Insurance web aggregator operations require permitted solicitation, foreign-currency transactions, fair conduct, accountability, and prescribed disclosures. Insurance Web Aggregators may solicit direct insurance business for insurers from permitted prospects in International Financial Services Centres, other ... Summary
International Financial Services Centres Authority (Insurance Web Aggregator) Regulations, 2022
Insurance web aggregator operations require permitted solicitation, foreign-currency transactions, fair conduct, accountability, and prescribed disclosures.
Insurance Web Aggregators may solicit direct insurance business for insurers from permitted prospects in International Financial Services Centres, other Special Economic Zones, and the Indian diaspora outside India. Domestic Tariff Area solicitation is restricted except under applicable insurance law. Foreign-jurisdiction laws govern diaspora solicitation, and financial transactions must use freely convertible foreign currency. IWAs must conduct business fairly, comply with prescribed obligations, duties, code of conduct and disclosures, and remain responsible for employee acts and omissions.
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