Insurance intermediary compliance certification expands eligible professionals for capital, net-worth, audit and application regulatory confirmations.
Insurance intermediary compliance requirements broaden the categories of professionals who may issue prescribed certificates. An IIIO must submit a paid-up capital and net-worth certificate half-yearly. Insurance intermediaries must also furnish, with audited accounts, a compliance certificate confirming adherence to the regulations. Form B requires an applicant's certificate confirming compliance with applicable regulatory requirements. Certificates may be issued by statutory auditors, practising Chartered Accountants, Company Secretaries, Cost Accountants, or other appropriately qualified persons specified by the Authority.

Insurance business registration compliance certification now requires verification by specified qualified professionals for applicants under the regulatory framework.
Insurance business registration compliance certification is amended in Form B and Form C of the First Schedule. Applicants must submit a certificate from a practising Chartered Accountant, Company Secretary, Cost Accountant in India, or another appropriately qualified person specified by the Authority. The certificate must confirm compliance with the applicable Act, the Registration of Insurance Business Regulations, 2021, and notifications issued under section 2CA of the Act.