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INSURANCE REGULATORY AND
ku DEVELOPMENT AUTHORITY
Ref: IRDA/CAD/CIR/ AGN/137/08/2010 Dated : 25`h August 2010

CIRCULAR

ALL INSURERS-LIFE AND NON-LIFE

Re: Disclosure of agency details on policy document

The Authority is in receipt of complaints from policyholders relating to agency identification and

servicing, especially when they have approached insurers directly and are serviced through an agency

allotted by the insurer. In particular, there are complaints that there are instances of agency codes that

are dummy, with the agent being non-existent. The new agency portal introduced by IRDA has several
checks to weed out such alleged dummy agencies. However, as a further measure, there is a need for

insurers to make a prominent disclosure to all policyholders about the agent/broker servicing the policy.

Therefore, the Authority, keeping the interests of policyholders in view, now directs all insurers, in terms

of Section 14 of the IRDA Act, to display the Agency Code, Agency Name and Mobile number (landline if

mobile number not available) and other contact details prominently on the first page of the policy

document in bold letters with a font size equal to at least 14 of Times New Roman font. This shall be

implemented by insurers on or before 1't November, 2010.

Please confirm receipt of this circular and action taken.

f 97s
(A.Giridhar)

Executive Director

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