26 November 2009
Insurance Business 1. To carry on and transact in India or elsewhere in any manner whatsoever, the business to establish, organise, manage, distribute, promote, encourage, provide, conduct, sponsor, subsidise, operate, develop and commercialise, all or any kinds of general insurance business including but not limited to, indemnity or guarantee business of all kinds, classes, nature and description, fire, marine cargo, marine hull, aviation, transit, motor vehicles, engineering, accident, including rural, livestock and crop insurances and miscellaneous insurances and all branches of the above classes, and also the business of insurance against war, riots, strikes, terrorism, civil commotion, loss of profits, health, other contingencies and insurances covering any liability under any law, convention or agreement and to act as agent, representative, surveyor, sub ¬insurance agent, franchiser, consultant, advisor, collaborator, or otherwise to deal in all incidental and allied activities related to general insurance business. 2. To undertake reinsurance, co-insurance, retrocession of insurances and liabilities of any kind or accepted by other persons or bodies and for such consideration and upon such terms and conditions generally as may be thought fit and to undertake reinsurance or co-insure any insurances or liabilities undertaken by the company. 3. To carry on and transact every kind of indemnity business and/or guarantee business and every kind of counter guarantee and counter indemnity business in all-their branches. 4. To grant annuities of all kinds, whether dependent or human life or otherwise and whether perpetual or terminable, immediate or deferred, contingent or otherwise, relating to general insurance business. 5. To carry on generally every kind of activity relating to general insurance business.
26 November 2009
Thanks for ur valuable suggestion arpita. but i have doubt whether it is applicable for insurance broker because it includes clause for formation of insurance business but i need only for insurance broker & consultant because we market various life insurance products of insurance company. pls clarify my doubt.
CAclubindia
