Board-approved insurance distribution policies must govern solicitation, servicing, product tie-ups, grievances and reporting, with periodic review required.

Insurance intermediaries must maintain a Board or equivalent-approved policy governing the solicitation and servicing of insurance policies. The policy must address multiple insurer tie-ups, product types, solicitation modes, grievance-redressal arrangements, reporting requirements, and other requirements relevant to different business segments. The Board or equivalent must review the policy at least once every three years.

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