Direct Tax Services
Audit
Consulting
ESG Advisory
Indirect Tax Services
RBI Services
SEBI Services
IRDA Registration
FEMA Advisory
Compliances
IBC Services
VCFO Services
Developed
Developing
BOTs
American
EU-1
EU-2
South East
South Asia
Gulf
ME
Select Your Location
The Insurance Regulatory and Development Authority of India (IRDAI)[1] is the sole regulatory authority that grants Insurance Broker Licence in India. The Insurance Act 1938 and the Insurance Regulatory and Development Act 1999 empowers IRDAI to make rules and regulations for activities related to Insurance Business. Furthermore, the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018, also apply to Insurance Broker Licence. The Direct Broker is also known as General Insurance Broker. The insurance broker licence is mandatory to carry out the insurance business in India.
Table of Contents
To apply for a new Direct or General Insurance Broker registration, an applicant must register in the portal. The user name and password would be generated by the system and sent to the user’s registered e-mail id. Subsequently, an application can be filled out and submitted online by accessing the website: http://www.irdabap.org.in. The application for a new broker’s registration shall be accepted only through online mode. The application fee for the Direct or General Insurance Broker is Rs.25, 000. The fee can be paid online.
In case the AoA of an entity provides for any of the above, it is advised to amend it accordingly.
The Renewal application of Certificate of Registration shall be submitted as follows:
The following documents for renewal application are as follows:
The fulfilment of the above-listed requirements are necessary for acquiring the General Insurance Broker Licence in India. IRDA (Insurance Brokers) Regulations, 2018 lays the guidelines and rules for availing the registration and renewal of the Insurance Broker Licence; and for ensuring compliance with relevant laws and regulations related to insurance products.
Read our Article: How to get an Insurance Broker License in India?
The World Trade Organisation defines e-commerce as ‘distribution, production, sale, marketing...
Hotel Industry is one of the fastest-growing industries in India. This is one special type of i...
Before proceeding to understand how the internal audit of laboratories is done, I am sure that...
NBFC (Non-banking Financial Company) is a company which is registered under the Companies Act,...
Internal Audit is an investigation into the company's internal controls, which includes the cor...
Are you human?: 3 + 2 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Driving innovation through new technologies has brought commendable changes in the financial sector. It has not onl...
19 Jan, 2021
Application for Insurance Broker Registration may be made for life and general insurance broker. The Insurance Regu...
02 Nov, 2019
Chat on Whatsapp
Hey I'm Suman. Let's Talk!