Q. What is the validity period of an Insurance Broker license once issued?

View solution

Q. How long does a license granted by the Authority to a corporate agent remain in force?

View solution

Q. What is the duration of an agent license, including renewals?

View solution

Q. Does an individual agent need to take an exam for license renewal?

View solution

Q. How is the renewal application for a license dealt with, according to Regulation 13?

View solution

Q. What powers does the Authority have regarding the suspension or cancellation of licenses?

View solution

Q. Under what circumstances can the designated person cancel a license or certificate of a corporate agent?

View solution

Q. What disqualifications can lead to the cancellation of an insurance agent's license under Regulation 11?

View solution

Q. Is the payment of an annual fee applicable to corporate agents or insurance agents?

View solution

Q. How is the remuneration of an insurance broker regulated under Regulation 19?

View solution

Q. How is the remuneration of a Corporate Agent regulated?

View solution

Q. How is the remuneration of an Agent regulated?

View solution

Q. What is the limit on the percentage of premium that can emanate from a single client for an insurance broker in the third year of business onwards?

View solution

Q. What is the maximum percentage of total premium that a corporate agent is allowed to have from one person, organization, or group of organizations in any year?

View solution

Q. Are there any provisions or limits on the percentage of premium from a single client for individual agents?

View solution

Q. What is the requirement for insurance brokers regarding deposit before the commencement of business?

View solution

Q. Is there any deposit requirement for corporate agents or individual agents according to Regulation 22?

View solution

Q. What is the requirement for Reinsurance Brokers and Composite Brokers regarding an 'Insurance Bank Account' according to Regulation 23?

View solution

Q. Is professional indemnity insurance mandatory for corporate agents and individual agents as per Regulation 24?

View solution

Q. What is the frequency of financial statement submission required for insurance brokers under Regulation 25?

View solution