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The IRDA opened up the market in August 2000 with an invitation for registration applications; foreign companies were allowed ownership up to 26 percent. The authority, with the power to frame regulations under Section 114A of the Insurance Act, 1938, has framed regulations ranging from company registrations to the protection of policyholder ...
The Parliament of Bangladesh on 3 March 2010 has passed two insurance laws in a bid to further strengthen the regulatory framework for the insurance industry. The new laws came into effect on 18 March 2010, are the Insurance Act 2010 and IDRA Act 2010. A total of 81 insurance companies have been operating in the country.
Insurance Brokers Association of India (IBAI) is an Indian trade association and regulatory body for insurance brokers in India. All licensed insurance brokers in India must be members of the IBAI Insurance Broker Regulations. [1] [2] The association was established as a company under Section 25 of the Companies Act, 1956 on 25 July 2001.
The Insurance Regulatory and Development Authority (IRDA) was constituted in 1999 as an autonomous body to regulate and develop the insurance industry. The IRDA opened up the market in August 2000 with the invitation for application for registrations. HDFC Life was established in 2000 becoming the first private sector life insurance company in ...
AIG/Corebridge Financial: Corebridge Financial — formerly AIG — offers a no-exam simplified issue life insurance option, additionally, eligible term applicants may not need a medical exam.
The National Insurance Academy (NIA Pune also known as NIA) is a educational institution located in Pune, India.NIA was founded in 1980 by the Finance Department of the Indian government with patronage from LIC and the public insurance industry.
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract. [1]
There are a number of major trade organizations that support the interests and needs of the independent insurance agent, including Agents For Change, [3] The National Organization of Life and Health Agents (NOLHA), [4] the Independent Insurance Agents & Brokers of America (The Big "I"), [5] and the National Association of Professional Insurance ...