RNIS Training for ‘Insurance Brokers’
‘IRDA (Insurance Brokers) Regulations, 2002’
issued on 16th October’2002, permits to transact or solicit
insurance business through brokers. The said IRDA regulations provides
for licensing of brokers.
Types of brokers are as under: -
• ‘Direct Brokers’ who can transact the business
of Life or Non life or both;
• ‘Reinsurance Brokers’ can transact the business
of only Reinsurance;
• ‘Composite Brokers’ can transact the business
of Life or non life or both and also reinsurance.
One of the pre-requisites for seeking Broker’s license includes
that 100/50 hours training from an IRDA approved institution and
passing examination conducted by the National Insurance Academy
by the minimum three person of a broking house including Principle
Officer.
RNIS College of Insurance is one of the IRDA approved brokers’
training institutions and is proud to have trained the highest number
of candidates in the country with an average pass percentage of
95%.
Syllabus of broker training is as under
Compulsory Subjects:
1) Insurance Broking
2) Principles of Insurance
3) Insurance Business Environment
4) Law and Economics of Insurance
5) Risk Management
Optional Subjects:
As per IRDA Syllabus on Life and Non-Life streams subjects including
Reinsurance namely:
Life Branch:
1) Mathematical Basis of Life Insurance
2) Statistics
3) Life Assurance Underwriting
4) Application of Life Assurance
5) Legal Aspects of Life Assurance
6) Life Assurance Management
7) Life assurance Finance
Non Life Branch:
8) Hazards of Specific Industries
9) General Fire Hazards
10) Fire Insurance Underwriting
11) Consequential Loss (Fire) Insurance
12) Fire Insurance Claims
13) Cargo Loss Prevention
14) Commercial Geography
15) Marine Clauses
16) Marine Underwriting
17) Marine Insurance Claims
18) Agricultural Insurance
19) Motor Insurance
20) Personal Accident, Sickness & Miscellaneous Insurance
21) Liability Insurance
22) Engineering Insurance
23) Reinsurance
Examination: An examination are held on Sunday as per date announced
by National Insurance Academy Pune
Revised Fees effective from 1st October 2007 is as under:
For Direct Broker Rs. 12,000/-
For Composite & Reinsurance Broker. Rs. 15,000/-
It includes tuition fees, literature and Lunch and tea.
Examination fee is Rs. 5000/- extra.
