POLICY FOR BROKER QUALIFIED PERSON.
Who are Broker Qualified Persons?
Broker Qualified Person” means an individual who is an employee of the insurance broker recruited for the purpose of solicitation and procurement of insurance business and who has undergone training and passed the examination specified for them;

Requirement of qualification, training and passing of examination for Principal Officer and Broker Qualified Persons

Part I

Requirements for Principal Officer and Broker Qualified Persons

Section 1: Minimum Educational Qualifications

(1) – Bachelor’s degree in Arts, Science, or Social Sciences or Commerce or engineering or law or its equivalent from any institution/ university recognized by any State Government or the Central Government; or
(2) Masters in Business Administration or its equivalent from any institution/ university recognized by any State Government or the Central Government; or
(3) Associate/ Fellow of the Insurance Institute of India, Mumbai; or
(4) Associate/Fellow of the Institute of Risk Management, Mumbai; or
(5) Any post graduate qualification of the Institute of Insurance and Risk Management, Hyderabad; or
(6) Associate/ Fellow of the Institute of Chartered Accountants of India, New Delhi; or
(7) Associate/ Fellow of the Institute of Cost and Works Accountants of India, Kolkata; or
(8) Associate/ Fellow of the Institute of Company Secretaries of India, New Delhi; or
(9) Associate/ Fellow of the Institute of Actuaries of India; or
(10) Associate/Fellow of Chartered Insurance Institute, London; or
(11) Chartered Financial Analyst of Institute of Chartered Financial Analyst of India; or
(12) Certified Associateship of the Indian Institute of Bankers, Mumbai; or

(13) Any other qualification specified from time to time by the Authority.

Section 2: Certification through a Professional Training and Examination:

(a) The Principal Officer and Broker Qualified Persons of the applicant should have completed the prescribed fifty hours of theoretical and practical training from an institution recognised by the Authority from time to time, and should have passed an examination, at the end of the period of training, conducted by the National Insurance Academy, Pune or any other examining body recognised by the Authority.

(b) The theoretical and practical training from an institution recognised by the Authority from time to time as mentioned in (a) above shall be twenty five hours in cases where the principal officer and Broker Qualified Persons of the applicant:

(i) Is an Associate/ Fellow of the Insurance Institute of India, Mumbai; or Associate/
Fellow of the Institute of Risk Management, Mumbai; or Associate/ Fellow of the
Institute of Actuaries of India; or any post graduate qualification of the Institute of
Insurance and Risk Management, Hyderabad; or Associate/Fellow of Chartered
Insurance Institute, London; Associate/Fellow of- Institute of Chartered Accountants of India, Institute of Cost Accounts and Works of India, Institute of Company
Secretaries of India, Chartered Financial Analyst of ICFAI or any other qualifications as recognized by the Authority from time to time;

(c) The candidate who is covered by (b) above, shall be required to pass the examination within one year from the end of the period of training, conducted by the National Insurance Academy, Pune or any other examining body recognised by the Authority.

Section 2: Certification through a Professional Training and Examination:
The Principal Officer and other persons responsible for solicitation of insurance business should have completed the prescribed fifty hours of theoretical and practical training from an institution recognized by the Authority from time to time, and should have passed an examination, at the end of the period of training, conducted by the National Insurance Academy, Pune or any other examining body recognised by the Authority.