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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY - page 23 / 28

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1.

The attention of the applicant is drawn to Section 102 of the Insurance Act 1938, which provides that whoever in any document required for the purpose of any of the provisions of the Act,  will fully makes statement false in any material particulars knowing it to be false, shall be punishable with the imprisonment for the terms which may extend to three years or with fine which may extended to one thousand rupees or with both.

2.

That name and the Licence Number given in the application should be identical with those shown in the Licence held. If there is any subsequent change in the name, the reasons for the same should be stated furnishing documentary evidence for the same.

3.

Any correction or alteration made in answer to the questions in the application should be initialled by the applicant.

4.

The application should reach the Insurance Regulatory and Development Authority atleast thirty days before the expiry of the licence. If the application does not reach the Insurance Regulatory and Development Authority at least 30 days before the date on which the licence ceases to be in force, it will not be entertained.

5.

A fee of Rs. 200/- plus an additional documentation charges of Rs. 100/- should be paid by means of Account Payee Demand Draft in favour of Insurance Regulatory and Development Authority, New Delhi drawn on Indian Overseas Bank, Parliament Street, New Delhi

6.

If the fee is made for a category of surveyor and loss assessor licence which involves payment of higher sum of money and IRDA grants a licence whose category involves payment of lower fees the IRDA shall refund the balance to the applicant within a reasonable period of time through a crossed cheque in favour of the applicant.

7.

The application complete in all respect along with bank draft and the certificates attested by a Notary Public or a Justice of Peace should be forwarded by the applicant to the following address by Registered Post;

Insurance Regulatory and Development Authority

Gate No. 3, First Floor, Jeevan Tara Building

5, Parliament Street, New Delhi-110 001.

Tel. No. 3364711.

Enquiry Between 1500 hrs. to 1600 hrs.

8.

Payment in Cash or by Money Order, Cheque, Postal Order, Postage or Insurance Stamp or Bank Draft is not accepted and will be returned at applicant’s cost.

9.

No acknowledgement of this application will be sent. If one is required the application should be sent by registered post (acknowledgement due). No application is accepted by hand.

10.

An affidavit duly notorised on two rupees non-judicial stamp paper is required to be furnished for renewal of licences in the form of a declaration as contained against S.No. of 3 of the application form.

11.

No acknowledgement of this application will be sent. If one is required the application should be sent by registered post (acknowledgement due). No application is accepted by hand.

12.

Enquiry between 1500 hrs to 1600 hrs

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

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