Insurance Web Aggregators may solicit direct insurance business for insurers in an IFSC, other special economic zones, and from the Indian diaspora outside India, but may not solicit from the Domestic Tariff Area except in accordance with Section 2CB of the Insurance Act. Foreign-jurisdiction laws must be observed for diaspora business, and financial transactions must use freely convertible foreign currency. IWAs must conduct business fairly, follow prescribed obligations and conduct standards, remain responsible for employee acts and omissions, and make prescribed disclosures.

Remuneration payable by an insurer to an Insurance Web Aggregator must follow the mode and manner specified by the Authority. No charges may be paid merely for transmitting leads. Remuneration may be earned where leads result in insurance-policy sales, and an IWA may receive mutually agreed product-display fees subject to any prescribed overall ceiling. Mutually agreed service charges may also be paid under service agreements for Insurance Outsourcing functions.

Regulation 22 permits an Insurance Web Aggregator to use telemarketing or other distance-marketing modes to solicit insurance where the solicitation is based on leads generated through its website. Such use must follow the instructions specified in Schedule 13. Remote insurance solicitation is thereby tied to website-generated leads and compliance with applicable Schedule 13 instructions when those marketing modes are used.

21. - The manner and process of online sale of Insurance shall be in compliance with guidelines as may be specified by the Authority. =============... ... ...

Transmission of leads by Insurance Web Aggregators to insurers must be undertaken in the manner specified in Schedule 12. The prescribed schedule governs the process for sharing insurance leads with insurers and establishes the applicable procedural requirements for lead transmission.

CHAPTER - V FUNCTIONS OF IWAS 19. - An IWA shall display the product comparison on its website in such manner as specified in SCHEDULE -11. =============... ... ...

Insurance Web Aggregators must prepare audited financial statements, disclose insurer-wise income and related-party payments, and ensure related-party transactions are conducted at arm's length. Audited accounts, auditor reports, and explanations of observations must be submitted within the prescribed period, and audit deficiencies must be rectified. Books and records must be retained at the IFSC office for at least ten years, with extended retention for sub judice claims. Insurer-wise records must include leads, policies, remuneration, KYC material, client particulars, complaints, and regulatory correspondence.

17. - While soliciting and procuring the insurance business, the IWA shall, at all times, avoid conflict of interest and ensure that - (a) in case it has tie-ups with more than one insurer in a particular line of business, it shall display to the prospects, the list of insurers with whom it has arrangements to distribute the products and provide them with the details such as scope of coverage, term of policy, premium payable, premium terms and any other information of all the produc... ... ...

Insurance Web Aggregators are prohibited from entering arrangements with insurers that operate against the interests of prospects and policyholders. Arrangements for distributing insurance products must conform to requirements specified by the International Financial Services Centres Authority, making protection of prospects and policyholders a governing condition for insurer-aggregator distribution arrangements.

15. - Every IWA shall purchase and maintain at all times, a professional indemnity insurance cover in the manner as specified in SCHEDULE - 7. =============... ... ...

Insurance web aggregators must maintain a Board-approved, or equivalent-body-approved, policy governing the manner of soliciting insurance products. The policy must cover multiple insurer tie-ups, product comparison and distribution, products offered, solicitation modes, grievance redressal, reporting requirements, and requirements applicable to different business segments. The Board or equivalent body must review the policy at least once every three years.

13. - The change in ownership and control of Promoters/ Partners/Designated Partners/Controlling Shareholders in the IWA shall be carried out only in such manner and form as may be specified by the Authority. =============... ... ...

Insurance Web Aggregators must obtain the Authority's prior approval before implementing any scheme of amalgamation, merger, acquisition, or transfer of business. The requirement applies to transactions involving the whole or any part of the business and makes prior approval a mandatory condition for such restructuring or business-transfer arrangements.

11. - (1) The Applicant, whose renewal has been refused by the Authority, shall, on and from the effective date mentioned in the communication from the Authority, cease to act as an IWA. (2) The IWA, whose renewal has been refused by the Authority, shall continue to be responsible to provide services in respect of contracts already entered through it. Provided that such services shall continue only up to the period of expiry of existing contracts or for a maximum period of six (6) mont... ... ...

Renewal of an Insurance Web Aggregator certificate of registration requires a deficiency-cure process before refusal. The Authority must communicate deficiencies to the applicant and allow 30 days for rectification. If deficiencies remain unrectified to the Authority's satisfaction, renewal may be refused only by communicating written reasons and after giving the applicant an opportunity to make written submissions on the proposed grounds of refusal.

CHAPTER - III RENEWAL OF REGISTRATION OF IWA 9. - (1) The application for renewal of certificate of registration, along with renewal fee as specified by the Authority, shall be submitted by the IWA in the format specified in SCHEDULE - 4 at least ninety (90) days before the expiry of the certificate of registration. The indicative list of documents to be submitted along with renewal application are specified in SCHDULE - 5; Provided that the IWA shall pay applicable additional fee b... ... ...

Registration of an Insurance Web Aggregator requires minimum paid-up capital or contribution of USD 30,000 and net worth equal to that amount. Branch applicants must maintain earmarked capital in their country of incorporation. Capital investments must derive from owned funds, excluding borrowings or debt-creating arrangements, and remain free from encumbrances. Net-worth shortfalls must be immediately restored and reported. Half-yearly certification of compliance with paid-up capital and net-worth requirements must be submitted by an eligible statutory auditor or practising professional.

7. - (1) The Authority on being satisfied that the Applicant fulfils the eligibility as specified under regulation 4, shall at first instance issue an in-principle approval to the Applicant for compliance with requirements viz, minimum capital infusion, training requirements of principal officer, professional indemnity policy and such other requirements as may be deemed necessary by Authority for issuance of Certificate within a period of forty five (45) days from the date of such in-princip... ... ...

Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.

6. - The registration or the renewal of registration granted to IWA shall, inter-alia, be subject to the following conditions that: (1) IWA shall exclusively carry on the business for which the registration has been granted and in the manner as specified in these regulations; (2) IWA shall comply with the provisions of the Insurance Act, 1938, IFSCA Act, 2019, applicable laws and any other instructions issued thereunder from time to time by the Authority; (3) IWA sh... ... ...