IRDAI has issued a circular bearing Ref No. IRDA/INT/CIR/IB/206/11/203 dated November 24, 2023, clarifying that insurers and insurance brokers (as the case may be) are not required to file the following:
- Certificate as per Annexure I-D under Regulation 39(1)(d) under the IRDAI (Insurance Brokers) Regulations 2018 (the “Regulations”)
Insurance brokers, while filling returns under Regulation 39, are no longer required to furnish the certificate confirming receipt of commission/remuneration within the regulatorily prescribed limit.
- Certificate as per Schedule-II – Form W of the Regulations
Insurance brokers are no longer required to furnish the above-mentioned certificate confirming that the remuneration and other payments received from the insurer are within the regulatorily specified limits.
- Certificate as per Schedule-II – Form W of the Regulations
Insurers are no longer required to furnish the above-mentioned certificate, which was required to be filed when the remuneration and other payments made to any broker in excess of the specified regulatory limits.
Source category: IRDAI
Attachments
- /2023/307_Circular_on_Discontinuation_of_filing_of_certain_returns_by_Insurers_and_Insurance_Brokers1.pdf
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