Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
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.
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?
Sweden is a country in Europe and has been a member of the European Union (EU) since 1995. The...
Gold loans are among the most popular loan types, particularly in rural India. Millions of peop...
The Reserve Bank of India (RBI) has recently issued new guidelines aimed at reducing unfair cha...
Corporate tax plays an important role in selecting the ideal location for setting up a business...
The United Arab Emirates (UAE) is recognized as the top global destination for innovation and i...
Are you human?: 6 + 3 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Insurance Broker Regulation, 2018 For the insurance sector financial year 2017-2018 brought in a sea of changes and...
13 Jun, 2019
The Insurance Regulatory and Development Authority (IRDA) is the regulator looking after the promotion and orderly...
31 Mar, 2023