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An insurance firm licence authorises a person to seek for and offer insurance products. The state insurance commissioner is in charge of issuing licences for the purpose of soliciting and selling insurance. These licences are divided into numerous insurance kinds, such as life and disability, health, auto, and worker's compensation. Anyone who lives in one state but sells insurance in neighbouring states must obtain a licence in each state.
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(1) A candidate can record an application for extra security or General Insurance organization or Health Insurance Business solely or Reinsurance Business.
(2) In the wake of accepting an application, the Authority may ask additional data or explanation identified with the thought of an application.
(3) After fulfilment, the Authority may concede approval and candidate at that point document a further application in Form IRDAI/R2 for award of certificate of registration.
(4) The Authority may dismiss the application for issuance of an order for an registration form by recording the explanation recorded as a hard copy
(5) A candidate who is wronged by the choice will record an intrigue to Securities Appellate Tribunal inside 30 days of dismissal correspondence got.
(1) Applicant is a company formed under Companies Act 2013.
(2) Certified of MOA and AOA.
(3) Details of the directors such as- name, address and occupation.
(4) Certified copy of the annual report of Indian promoters and foreign investors for the preceding last five years.
(5) Certified copy of the shareholding agreement between Indian Promoters and foreign investors of the applicant.
(6) Five-year business plan accepted by the Board of Directors.
(1) What is Insurance Company License?
(2) How can i be sure that my documents are safe?
(3) What is the process for online payment?
(4) Is the online payment secured?
(5) Who regulates insurance companies in india?
(5) Is LIC under IRDA?
