Section 3 in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
3. Categories of the Insurance brokers.
(1)Application for grant of certificate of registration to act as an insurance broker shall be made for any one of the following categories, namely:(a)direct broker (life)(b)direct broker (general)(c)direct broker (life & general)(d)reinsurance broker(e)composite broker(2)An applicant or its group entities ordinarily may be granted one certificate of registration. However, an application for an insurance broker registration where any applicant or its group entities is already engaged in insurance intermediation including insurance broking shall be considered on merits and subject to there being no conflict of interest.Note: For the purposes of these regulations, the definition of "group" shall have the same meaning as defined under Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016 as amended from time to time, or any other direction issued in this regard by the Authority.
