https://www.taxtmi.com/acts?id=54580 Fiduciary Accounts must be maintained by a Managing General Agent for premiums collected for remittance to a foreign insurer and for claims funds collected from the foreign insurer for onward payment to policyholders. The money in the Fiduciary Account must be segregated from the MGA's other accounts, used only for permitted purposes, and not applied to any other purpose. The MGA must not retain more than three months' worth of losses and loss adjustment expenses in the Fiduciary Account, and any surplus must be remitted to the foreign insurer monthly. en-us Tue, 16 Jun 2026 16:22:25 +0530 Tue, 16 Jun 2026 16:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54580 Fiduciary Accounts must be maintained by a Managing General Agent for premiums collected for remittance to a foreign insurer and for claims funds collected from the foreign insurer for onward payment to policyholders. The money in the Fiduciary Account must be segregated from the MGA's other accounts, used only for permitted purposes, and not applied to any other purpose. The MGA must not retain more than three months' worth of losses and loss adjustment expenses in the Fiduciary Account, and any surplus must be remitted to the foreign insurer monthly. Act-Rules Indian Laws Tue, 16 Jun 2026 16:22:25 +0530 https://www.taxtmi.com/acts?id=54580