Regulation 14 - Policy for solicitation of insurance products
International Financial Services Centres Authority (Insurance Web Aggregator) Regulations, 2022 Chapter IV CORPORATE GOVERNANCE, OPERATIONS AND MANAGEMENT
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Insurance product solicitation policy requires board-approved standards for tie-ups, distribution, grievances, reporting, and periodic review. Insurance web aggregators must maintain a Board-approved, or equivalent-body-approved, policy governing the manner of soliciting insurance products. The ... Summary
Insurance product solicitation policy requires board-approved standards for tie-ups, distribution, grievances, reporting, and periodic review.
Insurance web aggregators must maintain a Board-approved, or equivalent-body-approved, policy governing the manner of soliciting insurance products. The policy must cover multiple insurer tie-ups, product comparison and distribution, products offered, solicitation modes, grievance redressal, reporting requirements, and requirements applicable to different business segments. The Board or equivalent body must review the policy at least once every three years.
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