Section 4 in Insurance Regulatory and Development Authority of India (Registration of Insurance Marketing Firm) Regulations, 2015
4. Application for grant of Registration to Insurance Marketing Firm.
- 4.1 An Applicant desiring to obtain a Registration to act as an Insurance Marketing Firm shall follow the following procedure: -(a)Submit an application to the Authority in the Form A as specified in these Regulations.(b)Remit the non-refundable application fees of five thousand rupees plus applicable tax along with the application for grant of a registration.(c)Submit all the necessary documents as mentioned in detail in the application Form- A along with declaration of principal officer/directors/managing partners satisfying the fit proper criteria in the prescribed form or as may be additionally prescribed by the Authority.(d)Submit copy of the Insurance Marketing Firm Exam pass Certificate of the Principal Officer and the ISPs proposed to be engaged by the Insurance Marketing Firm.(e)Submit copy of the surveyors and loss assessor license of the person proposed to be employed by Insurance Marketing Firm, if the Insurance Marketing Firm proposes to undertake any insurance survey and loss assessing assignments.(f)Submit copy of the approved person certificate of the Insurance Repository of the Insurance Marketing Firm.(g)Submit copy of the licenses or authorization or registration obtained by the FSE proposed to be employed by the Insurance Marketing Firm issued by SEBI, RBI, PFRDA, Post Office for the line of activity proposed to be undertaken.4.2An application, submitted by the Applicant that is not complete in all respects and/or not conforming to the instructions specified in application form and/or not complying with the requirements and/or directions of the Authority, may be rejected.Provided that, before rejecting any such application, the Applicant shall be given a reasonable opportunity to complete the application in all respects and rectify the errors, if any.
