Page 59 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE
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which disentitle a person to a license are set forth in Section
42.
In exercise of the powers conferred to IRDA, some of the
regulations issued by it pertaining to agents include:
✓ Insurance Regulatory and Development Authority
(Licensing of Insurance Agents) Regulations, 2000
✓ Insurance Regulatory and Development Authority
(Licensing of Corporate Agents) Regulations, 2002
✓ Insurance Regulatory and Development Authority
(Insurance Brokers) Regulations. 2002
Some of the duties of the agent include Collecting premium,
protecting the principal from loss, helping illiterate proposers
in form filling etc.
The agent has to work with skills and act with reasonable
