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

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

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

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Q. Is membership in the Insurance Brokers Association of India mandatory for corporate agents and individual agents?

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Q. What is the responsibility of an insurance agent regarding the needs of the prospective buyer according to IRDA regulations for Agents / Corporate Agents?

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Q. What is the process recommended for insurance agents to analyze the client's requirement according to IRDA regulations?

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Q. What does the Code of Conduct prescribed by IRDA regulations for brokers emphasize regarding the suitability of a policy for the prospective client?

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Q. When were Third Party Administrators (TPAs) introduced by the IRDA?

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Q. What is the core service of a TPA in the health insurance sector?

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Q. What is the minimum paid-up capital requirement for a company to function as a TPA?

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Q. What is the minimum working capital requirement for a TPA at any point in its functioning?

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Q. Who is required to be a qualified medical doctor registered with the Medical Council of India among the directors of a TPA?

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Q. What is the non-refundable processing fee required for an application for a TPA license according to the regulations?

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Q. How much is the license fee that every TPA shall pay to the Authority before the license is granted?

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Q. What is the waiting period for a TPA whose application has been rejected by the Authority to reapply for a license?

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Q. Within how many days of execution should a copy of the agreement between the TPA and the insurance company be filed with the Authority?

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Q. How long does a TPA license granted by the Authority remain in force, unless revoked or canceled earlier?

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Q. What is the renewal fee for a TPA license for a further period of three years?

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Q. How many days prior to the date of expiry of the license should the renewal application be submitted?

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Q. What late fee is applicable for a delayed renewal application, and what should it be accompanied by?

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