Insurance web aggregator registration requires disclosures of ownership, business plans, financial capacity, disputes, and economic-offence history. Schedule 1 prescribes Form A for registration as an Insurance Web Aggregator, requiring supporting documents and disclosures on the applicant's ... Summary
Referred In :
International Financial Services Centres Authority (Insurance Web Aggregator) Regulations, 2022
Insurance web aggregator registration requires disclosures of ownership, business plans, financial capacity, disputes, and economic-offence history.
Schedule 1 prescribes Form A for registration as an Insurance Web Aggregator, requiring supporting documents and disclosures on the applicant's organisation, ownership, directors, associates, business plan, key managerial personnel, websites and hosting arrangements. Financial information must cover capital, reserves, net worth, assets and audited accounts. The applicant must also disclose disputes and economic offences involving specified persons. Permission for insurance telemarketing or outsourcing requires registration and authorised verifier particulars, with a declaration by two directors or designated partners confirming accuracy and a no-rebate undertaking.
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