Question

What documents are required for local brokers to remit reinsurance premium on behalf of insurers?

a.

Certificate from the Reserve Bank of India

b.

Certificate from the insurance company's Board

c.

Debit notes from the overseas insurance company, detailed premium settlement statement from the individual insurance company, and a certificate from the local broker's Chartered Accountant

d.

Certificate from the insurance company's Board and a certificate from the Reserve Bank of India

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Debit notes from the overseas insurance company, detailed premium settlement statement from the individual insurance company, and a certificate from the local broker's Chartered Accountant Explanation:The required documents for local brokers to remit reinsurance premium on behalf of insurers include debit notes from the overseas insurance company, a detailed premium settlement statement from the individual insurance company, and a certificate from the local broker's Chartered Accountant. These documents ensure transparency and compliance with regulatory guidelines in the remittance process.

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Q. What documents are required for local brokers to remit reinsurance premium on behalf of insurers?
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