Section 24 in Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
24. Servicing of policyholders.
(1)A corporate agent registered under these regulations shall have the duty to service its policyholders during the entire period of contract. Servicing includes assisting in payment of premium required under section 64VB of the Act, providing necessary assistance and guidance in the event of a claim, providing all other services and guidance on issues which arise during the course of an insurance contract.(2)In case of a corporate agent licensed under IRDA (Licensing of Corporate Agents) Regulations, 2002 they shall comply with regulation 1(3) of these regulations. However, they shall continue to service their existing policyholders as required under sub-clause (!) of this regulation til! the expiry of the term of such policies or for a period of six months, whichever is earlier, within which time they shall make suitable arrangements with the concerned insurer for servicing the contracts. The details of such contracts along with the arrangements shall be disclosed to the Authority within thirty days of such arrangements.
