IRDAI has approved amendments introducing perpetual registration supported by an annual fee regime instead of periodic renewals for insurance intermediaries, at its 137th Authority Meeting held on July 28, according to InsuraBeat on July 30.
Brokers, corporate agents, insurance marketing firms, web aggregators and other intermediaries will no longer need to reapply for registration on a fixed cycle — a certificate of registration, once granted, remains valid indefinitely, subject to payment of a non-refundable annual fee. The registration continues unless suspended, cancelled by IRDAI, or voluntarily surrendered.
The trade-off: every proposal, policy and certificate must carry a tag identifying the authorised salesperson behind the transaction, captured at the point of sale and preserved for the life of the contract. Existing intermediaries with three-year registrations must apply for a fresh certificate by January 31, 2027; those missing the deadline can apply until March 31, 2027 with reasons and an additional fee of Rs 750.
Source: InsuraBeat (July 30, 2026)