Photo of Soumyadipta Chanda

Senior Associate in General Corporate practice in the Mumbai office of Cyril Amarchand Mangaldas. Soumyadipta specializes in general corporate advisory, inbound and outbound foreign investments, mergers, acquisitions, joint ventures and business transfers. Soumyadipta has worked on several transactions in the financial services space and more specifically in the insurance and mutual funds sectors. He can be reached at soumyadipta.chanda@cyrilshroff.com

IRDAI clarification Written Mandate under the IRDAI (Insurance Brokers) Regulations, 2018

 

The Insurance Regulatory and Development Authority of India (IRDAI) notified the IRDAI (Insurance Brokers) Regulations, 2018 (Brokers Regulations) on January 12, 2018, repealing the erstwhile brokers regulations of 2013. This continues what is now considered an eventful financial year for the insurance regulatory space in India.

The Brokers Regulations improved upon the existing framework for the governance and regulation of insurance brokers- who act as significant intermediaries in the insurance sector. IRDAI, under these new Regulations, prescribed that all insurance brokers are required to comply with the code of conduct (Code of Conduct) set out in Schedule I – Form H of the Regulations. Continue Reading IRDAI Issues Clarification on Form of Written Mandate under the IRDAI (Insurance Brokers) Regulations, 2018