Latest Update

  • FICCI’s 21st Annual Insurance Conference is scheduled on 27-28 August, 2020 : Online

    To, All Broker Members,
    Dear Sirs,
    We are pleased to forward invitation revived from FICCI to participate in their above Annual Insurance Conference – online, on August 27 & 28, 2020.
    IBAI has been invited to be Institutional Partners for their Annual Insurance Conference, which gives your Association a lot of mileage in terms coverage and publicity to the entire Broking fraternity,
    We recommend to you members to participate in this Conference which is known for its quality content and to be hugely benefited by it.
     Do register and participate form comfort of your home
    You will have the benefit of listening to Chairman IRDAI, Shri Subhash Chandra Khuntiya, who will deliver the Inaugural address at this Conference.
    Best ,
    Alphonso Vaz
  • FICCI Virtual Health Insurance Conference- 2020

    All IBAI members.
    Dear sir/s,
    Below circular cum invite received from FICCI is forwarded for your information and participation in this Conference.
    Alphonso Vaz

    FICCI Virtual Health Insurance Conference- 2020
    Innovation for Bridging the Gap’
     August 19, 2020 | Digital Platform

    As you are aware, due of the COVID 19 pandemic, we had to postpone the FICCI Annual Health Insurance Conference, which was scheduled on March 13, 2020 in Mumbai. Looking at the current situation, we have realized that organizing the physical conference is not feasible in the near future.

    Hence, going with the new normal, we are now rescheduling and organizing the conference virtually on the same theme – ‘Innovation for Bridging the Gap’ on Wednesday, 19th August 2020.

    The focus of this conference remains the same i.e. to find ways and means to bridge the current gaps in the market, in terms of Trust, Affordability and Accessibility through Innovation. Discussions would be held around these three-key agendas, to identify innovative and sustainable ways that would help industry leapfrog to the next level. Key enablers of the central theme will form the topics to be discussed during various plenary sessions, such as OPD, Claims and Fraud in the health insurance sector.

    Over the years, the FICCI Health Insurance Conference has evolved into an industry flagship event and a thought leadership forum that brings together key stakeholders viz. government, regulator, health insurance industry, healthcare providers, TPA, intermediaries, social Health insurance schemes, etc. to ensure that the discussion and outcomes are desired, pragmatic and sustainable.

    In this context, we are pleased to invite you to register for the Conference. Please find attached the Draft Thematic Program along with the Conference Brochure for your reference.

    We are also pleased to provide a 10% group discount on registration of 3 or more delegates from the same organization. For registrations and more details, please contact Ms Beena Mulani on or | +91 7428323420

    1. Registration form (Click here to download)
    2. Brochure (Click here to download)
    3. Programme (Click here to download)

    Look forward to your confirmation and active participation.

    Best Regards,

    Shobha Mishra Ghosh
    Asst Secretary General
    Federation of Indian Chambers of Commerce and Industry
    Industry’s Voice for Policy Change
    Federation House, 1, Tansen Marg, New Delhi 110001, INDIA
    ISO 9001:2008 certified
    Click here to accessFICCI’s Knowledge Paper Series & FICCI’s Voice from SG’s Desk
    FICCI Corporate Identity Number (CIN): U99999DL1956NPL002635

  • Virtual ASIA Insurance Brokers’ Summit- July 14 – 15, 2020, SINGAPORE

    All Broker Members,

    Dear Broker Members,

    Networking will never be the same at Virtual Asia Insurance Brokers’ Summit, being hosted by ‘Asia Insurance Review, Singapore’

    Below is the invite extended to all Broker Members in India to join the LIVE online Virtual Asia Insurance Brokers’ Summit on July 14 -15, 2020, from comfort of your Office/ Home. (NO TRAVEL involved).

    Broker members are offered special participation rate of US$150/- only.and special concessional rate of US$. 100/- only, for more than 3 persons from same Organization.

    Your Association IBAI is one of the sponsors of this virtual Summit.
    We recommend your participation in this virtual event and gain special experience of networking with other peers as one full day is dedicated to do Net working in the New Normal.

    So SIGN up now as only two weeks left for this unique event.

    Stay Healthy & live safe,

    Alphonso Vaz.

    Virtual Asia Insurance Brokers’ Summit

    14-15 Jul 2020, Live Online, 9am – 6pm, Singapore Time

    Only 2 weeks left to register for the Virtual Asia Insurance Brokers’ Summit!

    Do you miss networking with like-minded peers, customers and speakers in this pandemic? Happening in less than two weeks, the Virtual Asia Insurance Brokers’ Summit will allow you to do so! We have dedicated a full day for you to do networking in the new normal.

    Here are some speakers that you can network with:

    Farah Jaafar-Crossby
    CEO, Labuan IBFC Incorporated
    Wee Loon Yong
    CEO, APAC Property & Casualty, Charles Taylor Adjusting
    Ronak Shah
    CEO, QBE Insurance (Singapore) Pte Ltd
    Iris Teo
    CEO, Marsh (Singapore) Pte Ltd
    David Youssef
    Managing Director, Middle East, Africa and Asia, VIP Universal Medical Insurance Group
    Pooba Mahalingam
    Director, Training & Business Development, Talent Asia Training and Consulting
    Marilyn Tang
    Regional Manager, John Foord
    Henry Ee
    Founder & Managing Director, Business Continuity Planning Asia Pte Ltd (BCP Asia)
    M. Jusuf Adi Sofyadi
    Chairman, The Association of Indonesian Insurance and Reinsurance Brokers (APPARINDO)
    Director, PT Energi Mandiri Internasional
    Yasha Kuruvilla
    Insurance Analyst, GlobalDat

    The Virtual Experience Highlights

    Experience the Mainstage
    Hear from the best minds in the industry on mainstage from live keynotes, panel discussions, and more.

    Visit the Expo Floor
    Head on over the expo floor for product demos, 1:1 live conversations with company representatives and more!
    Connect with Leaders
    Mix and mingle in our exclusive networking area with some of the industry’s top thinkers. You will have a chance to randomly meet new people and extend your professional network here!

    Join the Conversation
    Delegates can have their voices heard with the virtual platforms’ collaborative offerings – with embedded chat rooms, 1:1 video meetings, and other self-curated features!


    Tuesday 14-15 July 2020
    9am-6pm (Singapore Time/ GMT+8)

    Group Registration: Register three delegates or more and pay a special discount rate of US$100 for each delegate
    (Valid only for delegates from the same company in the same country).

    Mr Mohd Fazlan
    Conference Producer
    +65 6372 3130
    +60 17 641 0492
      Ms Wee Ling
    Senior Conference Assistant
    +65 6372 3167

    Organised by

    Supported by


    Media Partners

  • Online Programme on D & O Insurance and Cyber Risk Insurance : July 18, 2020 from 10.00 am to 1.00 pm.

    All Broker Members
    Dear Broker Members,
    Greetings from IBAI!
    Pleased forward the trail mail from National Insurance Academy (NIA) Pune, regarding online programme on D&O Insurance and Cyber Risk Insurance, being organised by the Academy on July 18, 2020 from 10.00 am to 1.00 pm.
    We have received request from Director of the Academy to support this initiative by registering for this very useful and quality programme, in good numbers.
    Each participant in this programme will receive a participation certificate from the Academy.
    Best regards,
    Alphonso Vaz
  • IRDAI Meeting with IBAI Board on May 21st

    June 12, 2020

    To All Broker Members,

    Re: IRDAI Meeting with IBAI Board on May 21st

    Dear Fellow Broker Members,

    Hope you are safe and well.

    The IBAI Board had a meeting with the IRDAI Chairman and other senior IRDAI Officials on May 21st, 2020 to discuss key requests of the broking community The Authority has shared a letter highlighting the action items for IBAI, attached herewith for your reference. Please see below, a summary of the same –

    ·       Trade Credit Guidelines –The Authority has asked lBAl to furnish comments on the exposure draft placed on IRDAI website. The draft guidelines already include majority of our requests on Trade Credit insurance. A separate communication has been shared with all broker members seeking comments on the same.

    ·       BAP – Your association has been sharing broker concerns on BAP with the Authority on a regular basis. We request all broker members facing issues on BAP write to the Authority seeking resolution. Request you to also share the same with IBAI to ensure that we can also take the same up with the Authority. We would like to once again request all broker members to be prompt in filing the returns.

    ·       Market Conduct lssues – The Authority has been receiving complaints on market conduct issues.  The Authority expects that IBAI advise all its members to maintain highest professional standards, maintain credibility and take concrete steps for sensitization.

    We are all aware that broking community has attracted best of talent in the insurance market. The contribution of broking community in serving the policyholder continues to rise rapidly year after year which can be seen from the total premium placed by brokers for non-life insurance. I am sure the broking community is committed to maintain high standard of professional conduct. If there are some isolated incidents then, we all should work harder to ensure that they are further reduced so that the reputation and the professional standards of brokers continues to rise.

    As brokers, we are united in our resolve to bring value and protect the interests of our customers. IRDAI in the last several years, has recognized the same and thus, allowed IBAI to conduct online renewal training for brokers. IBAI has sought approval for conducting the 50 hours broker training for BQPs and will take up the same with the Authority again. Furthermore, lBAl will be coming up with various initiatives on sensitizing brokers and conducting regular trainings to ensure that we maintain the highest professional standards. Please also see attached, the Code of Conduct prepared by IBAI applicable to all members in addition to the Brokers Code of Conduct under the IRDAI (Insurance Brokers) Regulations, 2018.

    ·       Reinsurance Placements – Recent requirement of IRDAI for reinsurance / composite brokers to get reinsurance premium payment confirmation directly from the reinsurers has added some serious practical challenges.  However, IRDAI expects that the broking community does every possible effort to comply with the same.  We are certain all broker members are doing their best to meet with this new requirement which seems to be somewhat unique in the international market.

    IRDAI expects that all the broker members should comply with the same fully. However, inspite of our best attempts if we have challenges which are beyond our control, then we should highlight this to the Authority.  We are believe the goal of the Authority is to create one more reliable and strong method which gives assurance to all the stakeholders.  If there are any alternate solutions which meet the purpose of the regulator and are at the same time practical to implement, then we should deliberate on the same and present it to the Authority for its consideration.

    In the meantime all of us should commit to comply with this new requirement which will instill greater confidence in the stakeholders.

    ·       How to stimulate growth in MSME sector due to situation caused by COVID-19 – Authority has asked IBAI to share a write-up on the same. Request broker members to please share their suggestions on the subject with us at

    We will continue to engage with Authority on matters of interest for the broking community. We look forward to inputs from broker members on the above and on other IBAI initiatives.

    Best Regards,

    Sanjay Kedia

    President, IBAI



  • Guidelines on Standardization in Health Insurance 2016

  • Guidelines on Standardization in Health Insurance 2016

  • IRDA (Insurance Advertisements and Disclosure) Regulations, 2000-Updated-20.05.2020

  • Continuity of Insurance Policies

    Continuity of Insurance Policies


    We would like to bring to the attention of policyholders that the Standard Fire and Special Perils Policy(commonly known as property policy)has the following condition:


    “Under any of the following circumstances the insurance ceases to attach as regards the property affected unless the Insured, before the occurrence of any loss or damage, obtains the sanction of the Company signified by endorsement upon the  policy by or on behalf of the Company :- 

    b) If the building insured or containing the insured property becomes unoccupied and so remains for a period of more than 30 days (Not applicable for Dwellings).”

    1. We are all going through an unprecedented situation of lockdown to battle the deadly Corona Virus.
    2. We do understand that in the current crisis it might not have been possible for some policyholders to send communication to insurance companies for continuation of coverage and obtain endorsements.
    3. Therefore it has been decided that a one-time relaxation is given to all policyholders whose property is unoccupied on or after 25/03/2020 till 03/05/2020. Properties of such policyholders shall be deemed to be covered subject to the policy being in force. All other terms and conditions of the policy remain unaltered.
    4. Policyholders are requested to contact their respective Insurance Company in case of any doubt / difficulty.

    Click here for more details

  • GIC unoccupied Circular


    Re: Suspension of certain policy conditions during lockdown period

    This is in response to the subject letter dated 13th April 2020 requesting GIC Re’s views on the same.

    The Government has declared lockdown due to outbreak of Coronavirus and the phase 1 of lockdown which ended on 14th April 2020 has been extended to May 3,2020. There is however some likelihood of partial lifting of the lockdown in some places effective 20th April 2020.

    The Government has also declared insurance as an essential service and reasonable sized organisations across industries are working online to keep their businesses running.

    As a treaty reinsurer, we rely on the prudence and competence of insurers to take decisions in the matter and would normally not enforce our views. As a basic tenet of insurance, the insured is expected to behave as though he is uninsured and take all reasonable measures with due diligence and do everything practicable to protect the insured property in accordance with statutory requirements.

    However , since our views are sought, kindly note our observations below which may be used as guidance by insurers so that referral on each and every risk is avoided :

    1. Operational Policies

    • In respect of all Risks of Retail / MSME upto Sum Insured of Rs 5 crs may be shown leniency and allowed continuity of cover for unoccupied premises upto 3rd May 2020 or till such time the lockdown is extended by the Government , without taking written consent from insurer subject to all risk management systems and security systems being in place.


    • In respect of all other risks, since online facilities are available, insured may intimate insurer regarding non-occupancy of the premises and specific approval maybe given by the insurer for continuity of cover upto 3rd May 2020 or till such time the lockdown period is extended by the Government , subject to risk management systems (eg. Fire extinguishers, sprinklers, 24/7 security , CCTV cameras, electric power supply being shut down in storage blocks etc.) being in place and operational . Wherever the risk is deemed as a silent risk, insurer to be intimated accordingly and silent risk coverage conditions to apply.


    • In both the above cases, Business Interruption cover is not operative during the period of non-occupancy.

    2. Cessation of work

    • Cover may be extended subject to –

      (a) All Risk Management systems being in place (Eg. security systems , fire systems / power to be shut down in case of storage facilities /burglary protection systems/ flood protections measures / fences and video control systems / regular inspection service etc.)

      (b) Upto date progress work report to be provided.

    • Cover does not apply for ALOP / DSU
    • Any cover does not prolong original policy period.


    3. For facultative acceptances, since these would be mostly large risks and more complicated, all risks will have to be examined on a case to case basis by GIC Re.

    It may be mentioned here that no refund may be allowed on premium for any case arising out of these extra ordinary circumstances under which waiver of policy condition and extension of coverage is being granted.

    Hope the above clarifies our stand on the matter. Sincerely,

    (Devesh Srivastava)
    Chairman and Managing Director 18th April 2020

  • Extension Premium Payment

  • IRDA Circular BAP Returns 2

  • Providing mandatory medical insurance-IRDA

    Ref: IRDAI/HLT/CIR/MISC/093/04/2020                                                                                         Date: 16-04-2020
    Providing mandatory medical insurance coverage to workers as part of the National Directives of MHA, GOI
    Ref: IRDAI/HLT/CIR/MISC/093/04/2020.

    16th April, 2020

    All General and Stand along Health Insurers (Except AIC and ECGC),

    Sub: Providing mandatory medical insurance coverage to workers as part of the National Directives of MHA, GOI

    1. Reference is invited to Order No. 40-3/2020-DM-I (A) dated 15th April, 2020 issued as part of the Consolidated Revised Guidelines by Ministry of Home Affairs, GOI. As per the said order, inter alia; the following are stipulated:
      • All industrial and commercial establishments, work places, offices etc. shall put in place arrangements for implementation of Standard Operating Procedure (SOP) before starting their functioning.
      • As per clause no. 5 of Annexure – II of the said SOP for social distancing for offices, workplace, factories and establishments, medical insurance for the workers to be made mandatory.
    2. In light of the above, all General and Health Insurance companies may offer comprehensive health insurance policies either to individuals or groups in order to enable the listed organisations / employers / establishments comply with the above referred directions.
    3. The insurers are advised to devise comprehensive Health insurance products with simple wordings, conditions and at affordable cost to be offered to the stated organisations.
    4. The above referred organisations should be able to continue the Medical Insurance Policy offered by insurers not only for the present situation but for all time.

    T L Alamelu MEMBER
    (Non Life)

    All Copy Rights Reserved. 2012 IRDA
  • IT Vendor for support to members on filing BAP Returns.


    All IBAI Members,

    Dear Members,

    IBAI is commencing a new service which will benefit most of its Members , this service will enable them to file their BAP Returns on time.

    As all of you are aware that BAP Returns have to be filed at regular intervals viz (Quarterly, Half Yearly and Annually )

    The Quarterly filing dates are from 1st to 15th of the month following the end of each Quarter (March, June, September and December)

    We have engaged an IT company named SOLUTION INFINITE NETWORKS LLP whose services will be available to all our broker members every quarter from 6th to 20th of the month.

    This assistance will be available from 8th July to 23rd July for Quarter 1 Returns and then from 7th Oct to 22nd Oct for Quarter 2 Returns and so on.

    The resource will be available from 10 am to 6 pm from Monday to Saturday except Public holidays at the Help Desk Number 9004349299

    Members facing problems / issues with the system or any trouble shooting issues can call at above Help Desk Number (viz 9004349299) and take assistance from this resource.

    If required the resource will take your PC on remote and try to help you to resolve the issue.

    The resource will not be able to help or comment on the Data part as he is just there for Hardware and Software issue.

    We will try and get him engaged with IRDAIs BAP Vendor Company to have better understanding of the BAP system during the course of time

    Disclaimer : This service is purely in the interest of assisting our Members (on hardware and software issues) and to facilitate them to file their BAP returns and it nowhere guarantees filing of returns on time as prescribed by IRDAI.

    If your problem still persists / remains unresolved you need to approach the BAP Help Desk team at IRDAI and raise tickets accordingly in prescribed time frame.


    Vijay Rampal

    Director & Hon. Secretary

  • On-line 25 hours renewal training for Broker Members


    All Broker Members,

    Dear Sirs,

    We are pleased to inform that the IBAI On-line 25 hours Renewal Training for Broker Members has been receiving very good response from our Broker Members.

    It has been IBAI’s endeavour to spread the Insurance knowledge to a larger section of employees of broking fraternity. Therefore has reduced the Training fee from Rs.2,000/- to Rs. 100/- plus GST 18% , to make the same affordable to more members and are encouraged to avail the Training facility established by the Association.

    We are hereby encouraging all our members to patronise on-line training through IBAI established training facility to their employees, so that IBAI attains the unique status of largest online training centre.

    Best regards,

    S.K. Jain

    Sr. Vice President

  • Webinar Lecture Series on Insurance for Broker Members

    Dear Broker Members,

    Further to communication dated 27/2/2019 from President Shri Sanjay Kedia, the Association has taken an initiative of webinar Lecture series on Insurance, starting Friday, March 8, 2019.

    The schedule of webinars till Jun 2019 is given below for your readily reference.

    The first webinar to be held at 3.00 pm on 8/3/2019 will be on the important current topic “Impact of GIC circular on premium”.

    All are requested to join on the appointed date and time.

    Schedule of webinars and the guidelines are given below for information of Members.

    Best regards,
    Alphonso Vaz
    IBAI Secretariat


    Schedule of webinars for the period March to May 2019 Topic Date of webinar Name of Speaker
    1 Impact of GIC Circular on Insurance premium 8/3/2019 Sh Hari Radha Krishana (hari@amicusbrokers,com)
    2 Cyber Risk 15/3/2019 Dr N Raveenderan
    3 Fire Insurance Coverage’s , Exclusions, Add On cover 12/4/2019 Members  are invited to deliver talk on any of these topics.
    4 Precautions to be taken while buying the Fire Insurance with case studies 26/4/2019
    5 Claim settlement under fire Insurance  with case studies 10/5/2019
    6 Marine Cargo Insurance with all clauses 24/5/2019
    7  Precautions to be taken while buying Marine cargo Insurance 14/6/2019
    8 Claim and case studies of Marine Cargo insurance 28/6/2019


    1. The topics at serial no. 3 to 8 are tentative and can be changed as per member’s request.
    2. Duration of webinar will be of 60 -90 minutes. The speaker has to intimate in advance the duration of his talk.
    3. PPT is to be sent one week before the date of webinar.
    4. No remuneration will be paid to any speaker but memento i.e trophy with the speaker name will be awarded.
    5. The webinar on the topic “Claims” will be preferred from the Surveyor.
    6. All webinar will be recorded for future reference and will be available at the website of IBAI, the same can be listened by paying the nominal fees of Rs 100/- per webinar.
    7. Any specific query of the members  may be sent to the speaker in advance or after the webinar  at the email of the speaker with a copy to
    8. IBAI will be maintaining the panel of  speakers, interested Members  are requested to submit their names  along with the topic to Vice- President shri S. K. Jain at  and IBAI at
    9. The link of the webinar will be sent on the email id available at the website of IBAI, therefore, all member are requested to provide the correct email id.

  • IRDAI (Re-insurance) Regulations, 2018


    All Composite and Reinsurance Broker Members

    Dear Sirs,

    Notification dated December 5, 2018, – IRDAI (Re-insurance) Regulations, 2018 which will be effective 1-Jan-19, is attached for your information please.

    Best regards,

    Alphonso Vaz

  • Constitution of Working Group for revisiting the Surveyor Regulations


    All IBAI Members.

    Respected Members,
    This is to invite your attention to below email of August 17, 2018, from President Mr. Sanjay Kedia inviting your comments and suggestions for changes and improvement on the Surveyor Regulations, addressed to all members.

    While we have been in dialogue with Authority on the subject, look for your feedback also on the regulations which would be highly valuable for us, so that consolidated feedback all the members could be placed before IRDAI for their consideration.

    Once again therefore, requesting all those who are yet to respond to kindly share your feedback with Shri Kishan Agrawal, Director & Treasurer, IBAI, at who is spearheading this initiative, with a copy to, within a week’s time and not later than October 6, 2018.

    Best regards,

    Alphonso Vaz

  • Online registration by IBAI Members


    All Broker Members

    Dear All,

    As you are aware that with regard to election of Directors on IBAI Board, e-voting provision has been incorporated in the AOA of IBAI. In order to implement the same, the data of members along with name of their nominated authorized person is required to be submitted to the Authorised Agency (CDSL) to mail the procedure of e-voting to respective members.

    Therefore it is requested that all members may kindly fill in membership registration form available on home page of IBAI website by clicking existing user or new user as the case may be.

    We also wish to inform as per provision in the Articles of Association of IBAI, the annual membership fee of the Association for the financial year 2018-19 is required to be paid before 30th June 2018, as otherwise the member will not be allowed to caste vote or contest in the election process.

    There are also some members who have not paid fees for earlier years and have been sent reminders dated April 18, 2018 and those who have not responded so far are requested to deposit the same to avoid ineligibility for voting and contesting the election.

    Members who have already done their membership registration on line on IBAI website may kindly ignore this email message.

    Best regards,

    Alphonso Vaz

    IBAI Secretariat

  • Code of conduct for members


  • FAQ’s on Insurance Brokers Regulations 2018

  • FAQ’s on Insurance Brokers Regulations 2018
  • Presentation on Brokers Regulations 2018

    IRDAI (Insurance Brokers) Regulations2018
    New Delhi/Kolkatta /Mumbai/Chennai
    Insurance Brokers Association of India

    broker regulations 2018
  • Online Renewal Training for Broker Members


    All Broker Members.

    Dear Members,

    We are pleased to inform that the IBAI – Online Renewal Training for Broker Members was inaugurated by Shri T.S Vijayan, Chairman IRDAI, at the XIV Brokers Summit held at Taj Krishna, Hyderabad on January 24, 2018.

    With this, a new chapter has been added with IBAI starting ‘online training for Broker Members’ for renewal of broker licence of members.

    The fee payable for the online training programme is kept at Rs. 2,000/- only plus GST, per candidate.

    Broker Members are kindly requested to register their names for the online renewal training through the training link provided for online brokers training on the home page of IBAI website.

    We suggest all the members to opt for Renewal training facility established by IBAI for imparting quality training for the benefit of Member Brokers and for success of this initiative.

    we trust that all broker members would support this initiative taken by the Association

    Best regards,
    Board of Directors of

    Insurance Brokers Association of India

  • Insurance Brokers Regulations 2018

  • Location of New Office

    All Members,

    We are pleased to inform that for the first time IBAI will be moving to an independent office at a new location from November 6, 2017.

    Location of New Office is at:

    A –Z Industrial Premises,
    1st  Floor, Unit no. 165,
    G.K. Marg. Lower Parel,
    Mumbai – 400 013.

    During the shifting process, there will be temporary restricted service available to IBAI members for a couple of days.

    There will be telephone call transfer facility available from existing number for some time till we get a new Number (which will be intimated in due course) and you may continue to contact us on  existing telephone number 22846544. The email id’s and and cell no. 9820045606, will continue to remain  the same.

    We will strive for providing the excellent service and look forward to your continued support.. 

    Best Regards,
    Alphonso Vaz
    IBAI Secretariat