Binding Authority Agreement (BAA)

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Full Text of the Document

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....the clauses as specified under Schedule-IV of these regulations is executed with the concerned foreign insurer and submitted to the Competent Authority. (2) The BAA shall, inter-alia, explicitly include the following: - (a) classes of direct insurance business, territorial limits and maximum limits of liability per risk; (b) underwriting guidelines and the basis of rates to be....