Insurance intermediary registration requires prescribed applications, institutional capacity, fit and proper management, financial soundness, and policyholder interest. Registration as an insurance intermediary in an IFSC requires an application in the prescribed form with supporting documents and fees. Assessment covers ... Summary
Insurance intermediary registration requires prescribed applications, institutional capacity, fit and proper management, financial soundness, and policyholder interest.
Registration as an insurance intermediary in an IFSC requires an application in the prescribed form with supporting documents and fees. Assessment covers statutory disqualifications, adequate infrastructure, prior refusal or withdrawal of registration applications, capital and net-worth compliance, qualified operational personnel, and the fitness and propriety of management and controlling persons. Promoters and controlling stakeholders must be financially sound, and registration must serve policyholder interests. Applicants must provide requested information and promptly disclose matters affecting their application.
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