Coming soon: New Broker Norms

T S Vijayan, Chaiman of IRDAI stated that New broker regulations will be out “any time” soon while speaking at the 14th Annual “Insurance Borkers’ Summit” held recently. Sanjay Kedia, President, Insurance Broker’s Association of India, said the role of a broker in the insurance market has been increasing. The demand for insurance broking is growing; currently there are 428 brokers in the industry. “We also seek ease of doing business in the form of licence renewal at least one month prior to expiry and reduction in the duplicity of information required,” said Kedia.