Section 7(3) in Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
(3)The specified persons of the applicant shall fulfil the following requirements -a. Having passed minimum of 12th Class or equivalent examination from a recognized Board/Institution;b. (i) The specified person shall have undergone at least fifty hours of training, for the specified category of life, general, health for which registration is sought for, from an approved institution and shall have passed the examination conducted by the examination body;(ii)The specified person of corporate agent (composite) shall have undergone at least seventy five hours of training from an approved institution, and shall have pass the examination conducted by the examination body;c. the specified persons engaged by the corporate agent to solicit and procure insurance business shall have valid certificate issued by the Authority, as specified in these Regulations. The certificate shall be valid for a period of three years from the date of issue subject to the valid registration of the corporate agent;The specified person shall apply through the principal officer of the corporate agent to the Authority in the format specified in Annexure 3 of these regulations for issuance of certificate.d. A specified person of a corporate agent wishes to switch over to any other corporate agent, shall do so by applying to the Authority through the new corporate agent along with a no objection certificate issued by the present corporate agent. In case, the present corporate agent does not issue a no objection certificate within 30 days, it shall be deemed that the said corporate agent has no objection to his switching over. The Authority after receipt of request from the corporate agent, issue a revised certificate changing the name of the corporate agent indicating the switching over.e. Specified Persons and/or Chief Insurance Executives who are qualified and already working with a corporate agent licensed under Insurance Regulatory and Development Authority (Licensing of Corporate Agents) Regulations, 2002, may continue to work with corporate agents registered under these regulations. However, the details of such Specified Persons and/or Chief Insurance Executives shall be provided to the Authority in the manner specified at the time of making an application for granting registration or within six months from the date of their registration. The Authority after receipt of the details issue to such Specified Persons and/or Chief Insurance Executives a certificate as specified in sub-regulation (c) above.
