Insurance Brokers Association of India (IBAI)
Insurance - Mumbai, Maharashtra, India
Insurance Brokers Association of India (IBAI) Employees
Insurance Brokers Association of India (IBAI) Details
Insurance Brokers Association of India (IBAI) was incorporated as a Company in July 2001, under Section 25 of the Companies Act, 1956. It is the only Insurance Regulatory and Development Authority of India (IRDAI) recognized apex body of licensed Insurance Brokers. IBAI has a Memorandum of Association as well as an Articles of Association, as required under the Companies Act, 1956. and is run by a Board of Directors - elected by the members. IBAI is also member of Bombay Chamber of Commerce and Industry, Mumbai as well as of Federation of Indian Chambers of Commerce and Industry.As per Insurance Brokers Regulations 2002, framed by IRDAI, all licensed Brokers are required to be the member of IBAI. As on March 2017, there are 391 licensed Insurance Brokers who are members of IBAI.Ours is a membership-based organization serving independent insurance brokers across India. We represent our members to government, regulatory bodies and the insurance industry, advocating on behalf of the consumer. Our objectives are - • To promote interaction among the Insurance / Re-insurance / Composite Broker members and to encourage, promote, facilitate and protect the interests of all the members of IBAI • To provide an avenue to the members for further education, training and research in all fields of insurance and re-insurance • Represent the interests of Brokers with other organizations.We are unique, We are the same and We are stronger together as brokers fraternity in INDIA.
