Insurance Brokerage in India
Insurance broker became a regulated term under the Insurance Brokers (Registration) Act 1977 which addressed the practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies. The term now has no legal definition following the repeal of the 1977 Act. The sale of general insurance has been regulated by the Financial Services Authority since 14 January 2005. Any person or firm authorised by the Financial Services Authority can now call themselves an insurance broker.
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Famous quotes containing the words insurance and/or india:
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)
“But nothing in India is identifiable, the mere asking of a question causes it to disappear or to merge in something else.”
—E.M. (Edward Morgan)