Oct 22 2009
IRDA Announcement on Insurance Agents
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Recently IRDA has announced new restriction for the Insurance agents. The following are the restriction and rules should be followed by agent and the insurer.
- With the new announcement, agents cannot change the insurance company very frequently.
- Every agent has to stick with the same company for at least three years, then only he can move to another company to sell the policies.
- Moreover, he has to get the certificate from the current employer to join the another company.
- They must submit the all the details of the policy holders and contact details before leaving the present insurance company.
- Once the agent left the company, Insurer must arrange alternative agent to server the policy holders.
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