The Insurance Regulatory and Development Authority of India (IRDAI) has issued transitional guidelines for the issuance of Certificates of Registration and payment of annual fees for insurance intermediaries on Tuesday, following the implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
The new framework introduces a fundamental shift in the registration regime by allowing certificates granted to insurance intermediaries to remain valid on a continuous basis, subject to payment of an annual fee. This replaces the earlier system where registrations were valid for three years and required periodic renewal.
Under the amended provisions of the Insurance Act, 1938, intermediaries will now be required to comply with annual fee requirements as specified by the regulator, with registrations continuing unless suspended or cancelled.
To ensure a smooth transition, the regulator has introduced interim arrangements applicable to intermediaries receiving fresh registrations or renewals between February 5 and June 30, 2026.
During this period, an interim annual fee will be collected at the time of issuance of the registration certificate, based on a structure outlined in the circular.
The interim framework will remain in force until a comprehensive regulatory mechanism governing annual fee payments is finalised and notified.
In cases where intermediaries have already paid renewal fees for registrations granted on or after February 5, the regulator said such amounts will be adjusted against the interim annual fee. Any excess collected will be refunded.
