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The Insurance Regulatory and Development Authority of India recognizes online training conducted through the Insurance Institute of India for fresh and renewal training of insurance brokers. The authority withdraws approval for classroom training given to other institutions. Insurance brokers complete twenty five hours of mandatory online training and appear for an online self assessment test. The test does not require a passing score. The Insurance Institute of India charges three thousand five hundred rupees plus service tax per candidate.
What you must do
Key dates
Who is affected
Thresholds
If you do not comply
Ask about this circular
[Image omitted. See the official document.]
IRDA/BRK/MISC/CIR/018/01/2016
Circular
1st February, 2016
To
All Insurance Brokers
Subject: Online Training for Renewal of Licence
We are pleased to inform you that Insurance Institute of India (III) has developed the Brokers' Training Module and has communicated their readiness to start online training for renewal of licence for brokers from 1st February, 2016. The prospective candidates may make use of this opportunity for renewal training online which can be accessed through the following link.
https://www.insuranceinstituteofindia.com/web/guest/brokerrenewal
Under this pattern, there will be mandatory training for 25 hours online and after completion of the training the candidates will have to appear for a self-assessment test which will also be online. It may be noted that the test is only to assess the candidates understanding of concepts and there is no mandatory requirement of clearing/passing the same. The first test is scheduled for 10th February, 2016 and thereafter a person can take the test at anytime on completion of his renewal training. III will be charging Rs.3500/-+ service tax per candidate for conduct of this training and test.
Further, all insurance brokers are informed that effective from 1st February, 2016 onwards the Authority would recognize only online training conducted through III, for both fresh and renewal training as required under the IRDA(Insurance Brokers) Regulations, 2013 and no other training acquired from any other institution will be recognized for this purpose. The approval/authorization given by the Authority for conduct of class room training to other institutions is hereby withdrawn.
[Image omitted. See the official document.]
(Nilesh Sathe) Member(Life)
परिश्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत © : 91-040-2338 1100, फैक्स : 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: www.irda.gov.in
Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail: irda@irda.gov.in Web.: www.irda.gov.in
