Insurance Intermediaries: Transitioning to a Perpetual Registration Regime

On March 16, 2026, the Insurance Regulatory and Development Authority of India (IRDAI) issued a circular outlining transitional arrangements for the issuance of Certificates of Registration and payment of annual fees for insurance intermediaries.

Pursuant to the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, effective February 5, 2026, Section 42D of the Insurance Act, 1938, has been amended to introduce a perpetual registration regime. Registrations granted to insurance intermediaries will now remain valid on a continuous basis, subject to payment of annual fees, until suspended or cancelled by IRDAI. The earlier framework providing for a three-year validity period and renewal of Certificates of Registration stands discontinued with effect from February 5, 2026.

IRDAI’s circular facilitates the transition to this new regime and applies to these categories of insurance intermediaries: insurance brokers, corporate agents, insurance marketing firms (IMFs), web aggregators, common service centres (CSCs), insurance surveyors and loss assessors, insurance repositories, third party administrators (TPAs), and other entities registered as insurance intermediaries under applicable regulations.

The interim arrangement applies to insurance intermediaries granted fresh registration or renewal of Certificates of Registration during the period from February 5, 2026, to June 30, 2026. During this period, an interim annual fee will be payable at the time of issuance of the Certificate of Registration, in accordance with the fee structure specified in the circular. This arrangement will remain in force until a comprehensive regulatory framework governing annual fee payments is notified.

In cases where renewal of registration has been granted on or after February 5, 2026, and renewal fees had already been paid prior to such renewal, such amounts will be adjusted against the interim annual fee payable, with any excess refunded to the concerned intermediary.