Section 19(1) in Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
(1)Every corporate agent, where the revenues from their insurance intermediation activities is more than fifty per cent of their total revenue from all the activities, shall take out and maintain at all times a professional indemnity insurance cover throughout the validity of the period of the registration granted to it by the Authority.Provided that the Authority shall in suitable cases allow a newly registered corporate agent to produce such a . policy within twelve months from the date of issue of original registration.
