To facilitate a smooth transition to the new regime, an interim arrangement has been introduced applicable to insurance intermediaries granted fresh registration or renewal of Certificate of Registration during the period from 5 February 2026 to 30 June 2026.
During this period, an interim annual fee will be payable at the time of issuance of the licenses.
The applicable fee structure has been specified in the circular. The interim measure will remain in force until a comprehensive regulatory framework governing annual fee payments is notified.
Hyderabad:IRDAI has issued a circular on March 16 outlining transitional arrangements for issuance of Certificates of Registration and payment of annual fees for insurance intermediaries following the implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which came into effect on 5 February 2026.
The Act has amended Section 42D of the Insurance Act, 1938, providing that registrations granted to insurance intermediaries will now remain valid on a continuous basis, subject to payment of an annual fee, until such registration is suspended or cancelled by the IRDAI.
As a result of the amendment, the earlier system prescribing a three-year validity period for Certificates of Registration and payment of renewal fees has been discontinued with effect from 5 February 2026.
Going forward, all insurance intermediaries will be required to comply with the annual fee requirement as may be specified through regulations.
To facilitate a smooth transition to the new regime, an interim arrangement has been introduced applicable to insurance intermediaries granted fresh registration or renewal of Certificate of Registration during the period from 5 February 2026 to 30 June 2026.
During this period, an interim annual fee will be payable at the time of issuance of the Certificate of Registration.
The applicable fee structure has been specified in the circular. The interim measure will remain in force until a comprehensive regulatory framework governing annual fee payments is notified.
Cases where renewal of registration has been granted on or after 5 February 2026 and the renewal fee had already been paid earlier, the amount collected will be adjusted against the interim annual fee payable.
Any excess amount arising from such adjustment will be refunded to the concerned intermediary.