Section 34(9) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(9)Every insurer who is engaging the services of an insurance broker shall file with the Authority a certificate separately for all such insurance brokers in case the remuneration and other payments made to insurance broker exceeds the limits stipulated, in the format given in the Schedule II - Form W to be signed by the CEO and CFO of the insurer. A similar certificate from the Principal Officer and CFO (or its equivalent) of the insurance broker certifying that the remuneration and other payments received by the insurance broker from the insurer shall be filed with the Authority as given in Schedule II - Form W.
