Sentences with phrase «corporate agents»

The large corporate agents including banks are known to insist on high payout which has made the corporate agency model less viable.

The Direct and Corporate Agents who sell life insurance policies on behalf of the Insurance Companies are paid a certain percentage of commission (quantum already settled before) on the premium amount.

Bancassurance refers to banks acting as corporate agents for insurers to distribute insurance products.

Its distribution network is in over 500 cities, 560 branches, around 85,000 empanelled advisors and over 140 partnerships with corporate agents, brokers and banks.It's been a decade that it has contributed significantly to the growth and development of the life insurance industry of our country.

The Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday notified new norms for corporate agents allowing them to tie up with up to three insurers each in life, non-life and health insurance segments.

But here are two goodsources of in - depth information: The Essential Corporation Handbook, by Carl R. J.Sniffen, and The Essential Limited Liability Company Handbook, by Corporate Agents Inc.Both are published by Oasis Press (800-228-2275) and cost $ 19.95 each.

Speaking on the sidelines of an insurance conference organised by Dun & Bradstreet (D&B), Sathe said corporate agents would be given an option to tie up with nine insurers.

Earlier to this ordinance, banks were allowed to act as corporate agents selling products of one life insurance company and one non-life insurance company as per Section (6)(1)(o) of the Banking Regulations Act, 1949.

Though there are about 250 corporate agents today, the new norms could trigger increased traction in marketing pacts between insurance companies and banks.

They can also apply as corporate agents only for life, non-life or health segments and sell products of up to three insurers in that category.

Banks can also act as corporate agents without seeking prior approval from the RBI.

The new law states corporate agents as intermediaries, representing the consumer, they have to act in the best interest of the customer,» IRDAI chairman T S Vijayan said.

Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.The company has pioneered the launch of Unit Linked Life Insurance plans and their vision is to be a leader and role model in integrated financial services.

The Insurance Regulatory and Development Authority of India (IRDAI) notified new norms for corporate agents allowing them to tie up with up to three insurers each — life, non-life, and health insurance segments.

Although there are already plenty of LLC guidebooks around, a good one is The Essential Limited Liability Company Handbook (Oasis Press, 800-228-2275, 1995, $ 19.95), by Corporate Agents, a company that specializes in handling incorporation issues.

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«A corporate agent can not shield himself from personal liability for a tort he personally commits or participates in by hiding behind the corporate entity; if he is shown to have been acting for the corporation, the corporation also may be held liable, but the individual is not thereby relieved of his own responsibility.»

His experience includes working with a broad network of corporate agents and third - parties in foreign countries, supervising the implementation of a corporate and anti-corruption compliance program for that corporation and its subsidiaries, and dealing with SEC and DOJ FCPA investigations for both the parent corporation and its subsidiaries.

Till about 5 years back, term insurance could be bought only through an intermediary (agent / bank / corporate agent / broker, etc.).

Insurers can not invest in AT1 bonds of their promoter group bank or where the bank is their corporate agent

Berkshire Hathaway, the conglomerate led by billionaire Warren Buffett, today said it plans to enter the Indian non-life insurance sector as a corporate agent of leading player Bajaj Allianz General.

Industry experts believe that gradually the ind ividual agent model would come down and bancassurance along with corporate agents would gain prominence.

The Insurance Regulatory and Development Authority of India (Irdai) has decided that corporate agents (including banks) can tie up with up to three life, non-life and health insurers each for distribution of insurance products.

State Bank of India is a corporate agent of SBI Life.

It surely has a robust distribution network which includes brokers, retail, corporate agents, bancassurance and of course its own direct sales team.

Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.It's been a decade that the company has contributed significantly to the growth and development of the life insurance industry of our country.

Also, corporate agents will not be allowed to solicit unit - linked insurance plans (ULIPs) of non-single premium type for annualised premiums exceeding Rs 50,000 over telephonic mode (voice as well as SMS).

All corporate agents will have to be registered with the regulator before entering into distribution agreements with the individual insurers.

That will no longer be the case, as the Insurance Regulatory and Development Authority of India (Irdai), in its regulations on corporate agent registration, has said no customer can be asked to buy insurance mandatorily by corporate agents.

The regulator has allowed corporate agents, including banks, to tie up with up to three life, three non-life and three standalone health insurers.

The recent authorities» states that brokers and corporate agents have now become intermediaries for insurance companies however, previously, only «brokers» were defined with «agents» referring to corporate agents.

At present, corporate agents are allowed to sell policies of only one life insurance and one non-life insurance company.

In draft norms on corporate agents, IRDAI says corporate agent (including banks) should reduce business from one insurer to 50 %

Every corporate agent (like banks) also has to be disclose its plan of adopting open architecture and its approach for the same.

«Where the insurance is sold as an ancillary product along with a principal business product, the corporate agent or its shareholder or its associates shall not compel the buyer of the principal business product to necessarily buy the insurance product through it,» Irdai said.

«Industry requirement is that it should be made mandatory for corporate agents to have tie - ups with more than one insurer.

Berkshire Hathaway, the conglomerate chaired by Buffett, recently forayed into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General.

Insurance Regulatory and Development Authority (IRDA) will soon come out with a host of new regulations on corporate governance, management control, accounting and tracking the sales record of corporate agents.

BAGIC has about 40 corporate agents.

Under existing bancassurance guidelines, a bank can act as a corporate agent and sell policy of only one life insurer and one non-life insurance company.

On new norms for agents, he said, «a corporate agent is going to be intermediary, representing the interest of the customers.

Berkshire Hathaway will enter Indian insurance business as a corporate agent for Bajaj Allianz General Insurance Company Ltd (BAGIC) a 74 % subsidiary of Bajaj Finserv Ltd..

The Insurance Regulatory and Development Authority (Irda) is set to make it mandatory for banks to adopt the broking model rather than following the corporate agent structure.

The private life insurer was fined Rs 1 lakh each for payment of commissions to two of its corporate agents

The only life insurance company in India with a strong business coverage across India packaged with 35000 + Insurance advisors, Regional Cooperative Banks, Corporate Agents, Brokers and Referral Partners

The company has an extensive distribution reach in over 500 cities through its network of over 550 branches, more than 1,05,000 empanelled advisors and over 100 partnerships with corporate agents, brokers and banks.

BSLI has an extensive distribution reach of over 500 cities through its network of about 600 branches, 10500 empanelled advisors and over 150 partnerships with corporate agents, brokers and banks.