The Insurance Regulatory and Development Authority of India (Insurance Intermediaries) (Amendment) Regulations, 2019

Nov 06, 2019 | by Avantis RegTech Legal Research Team


The Insurance Regulatory and Development Authority (IRDAI) on October 30, 2019, notifies the Insurance Regulatory and Development Authority of India (Insurance Intermediaries) (Amendment) Regulations, 2019. The objective of these regulations is to amend corresponding provisions of various regulations applicable to intermediaries or insurance intermediaries.

A new Regulation related to “Foreign Investment” has been inserted specifying that every applicant, who is a company incorporated under the Companies Act, 2013 and has a majority of shareholding of foreign investors, shall furnish an undertaking as given in Schedule – AA (Page 5) in the following Regulations:-

A. IRDAI (Insurance Brokers) Regulations, 2018

B. IRDAI (Insurance Web Aggregators) Regulations, 2017

C. IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015

D. IRDAI (Registration of Corporate Agents) Regulations, 2015

E. IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015

F. IRDAI (Third Party Administrators-Health Services) Regulations, 2016

These Regulations shall come into force on the date of its publication in the Official Gazette.

[Notification No. F.No. IRDAI/ Reg/13/164/2019]


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