Section 27(4) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(4)The insurance broker shall obtain a written mandate from the client to offer risk management services and shall keep a record of the risk management services offered to the client which will include details such as name of the client, place of risk, nature and type of risk management services undertaken, amount of fee charged from the client, basis of fee charged, etc.
