Can a license of insurance agent be terminated?



Hi,
I am an agent with New India assurance having a yearly business of 8 lacs.
But since my claims comes to 10 lacs on an average my branch manager is asking for bringing in new business in other than medi claim or else he wont renew my license
Please suggest if there is any way out.

3 Replies to “Can a license of insurance agent be terminated?”

  1. are you sure that he claim comes to 10 lacs for the business of 8 lacs done by you . it is not clear – need more details


  2. I am not very much sure, but what you can do is visit IRDA site and check the norms over there and you can find the contact details of Director of IRDA from there for your further reference. You can mail them your problem. They will certainly help you. But this is for sure that no one can cancel your Licence just for the sake that your claims were high, your branch must be using you for his own branch target, actually they have to make his branch profitable and it is only possible when claims are low.


  3. Dear,

    It’s sad to see that even after doing a fair business, you are being treated like this by your superior.

    You can complain to IRDA. IRDA is the body which will renew your License. Your license must have been sponsored by New India Insurance, that’s why he is using such pressure tactics. But, you can complain to his superior.

    Regards,

    Vishal kashyap,
    founder,
    ApnaAdvisor.com





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