ANNEXURE - B

CODE OF CONDUCT General Terms and Conditions applicable to the Agents of Tata AIG
responsible for the collection and payment to Tata AIG of premiums on
1. DEFINITIONS
business introduced and canvassed by him/her for Tata AIG. The Agent
Every person who is appointed as Agent by Tata AIG shall adhere to the code of conduct as specified below:-
Definitions: In this appointment letter, unless the context otherwise shall ensure compliance with the section 64VB(4) of the Insurance Act,
1) The insurance agent shall,--- requires:- 1938 as amended from time to time.
(a) identify himself and Tata AIG, of whom he is an insurance agent; a) "Act" means the Insurance Act 1938 (4 of 1938) and the Insurance Laws b) The Agent shall immediately remit and send to Tata AIG the amount of
(Amendment) Act, 2015 as amended from time to time premiums collected by him/her on behalf of Tata AIG. The Agent shall
(b) show the agency identity card to the prospect, and also disclose his agency appointment letter to the prospect on demand;
b) "Appointment", shall be read and construed as "the appointment of the be solely responsible for short collections i.e. the amount of premium
(c) disseminate the requisite information in respect of insurance products offered for sale by Tata AIG and take into account the needs of the prospect
agent". falling short as compared to the correct amount of premium payable.
while recommending a specific insurance plan;
c) "Appointment Letter" means a letter of appointment issued by Tata AIG Tata AIG shall irrespective of any other remedies be entitled to set-off or
(d) where the Insurance agent represents more than one insurance company offering same line of products, he should dispassionately advice the
General Insurance Co. Ltd. to any person to act as an insurance agent deduct such monies owed to Tata AIG from the Agent. Notwithstanding
policyholder on the products of all Insurers whom he is representing and the product best suited to the specific needs of the prospect.
d) "Agent" means an individual appointed by Tata AIG under the letter of the foregoing should Tata AIG institute or initiate any proceedings for
(e) disclose the scales of commission in respect of the insurance product offered for sale, if asked by the prospect;
appointment for the purpose of soliciting or procuring insurance recovery of monies due from the Agent, then the commission earned
(f) indicate the premium to be charged by Tata AIG for the insurance product offered for sale; shall be forfeited and the full amount of premium including the legal cost
business including business relating to the continuance, renewal or
(g) explain to the prospect the nature of information required in the proposal form by Tata AIG, and also the importance of disclosure of material and such other incidental expenses shall be payable to Tata AIG by the
revival of policies of insurance;
information in the purchase of an insurance contract; Agent.
e) "IRDAI" shall mean the Insurance Regulatory and Development
(h) bring to the notice of Tata AIG any adverse habits or income inconsistency of the prospect, in the form of comment along with every proposal c) Tata AIG shall have the right at all times to set off any sums of money
Authority of India
submitted to Tata AIG, and any material fact that may adversely affect the underwriting decision of Tata AIG as regards acceptance of the proposal, by against any sum due to the Agent hereunder any debt obligation or
making all reasonable enquiries about the prospect; f) "Regulations" shall mean and include any Regulations / circulars as
prescribed by the IRDAI from time to time. liability due or owning by the Agent to Tata AIG and such setting off shall
(i) obtain the requisite documents at the time of filing the proposal form with Tata AIG; and other documents subsequently asked for by Tata AIG for not create a cause of action against Tata AIG on the ground that any such
completion of the proposal; g) "Terms" shall mean the General Terms and Conditions applicable to the
sum of money is withheld from the Agent when there is a debt or
agents of Tata AIG
(j) advise every prospect to effect nomination under the policy; obligation of the Agent due to Tata AIG.
h) "Tata AIG" refers to Tata AIG General Insurance Company Limited
(k) inform promptly the prospect about the acceptance or rejection of the proposal by Tata AIG;
6. CLAIMS
(l) render necessary assistance and advice to every policyholder on all policy servicing matters including assignment of policy, change of address or 2. APPOINTMENT a) The Agent hereby agrees that the Agent shall not have the authority to
exercise of options under the policy or any other policy service, wherever necessary;
a) This appointment authorizes the Agent to solicit or procure general adjust or pay any claims whatsoever or give any commitments with
(m) render necessary assistance to the policyholders or claimants or beneficiaries in complying with the requirements for settlement of claims by reference to the claims on insurance covers issued by Tata AIG. Upon
insurance including business relating to the continuance, renewal or
Tata AIG;
revival of policies of insurance for and on behalf of Tata AIG subject to intimation of any claim by an insured or the insured's representatives
2) No insurance agent shall,---- adherence of these Terms. the Agent must immediately inform Tata AIG particularly Tata AIG's
b) This appointment will remain in effect unless Terminated / Surrendered / claim department about the said claim and simultaneously arrange for
(a) solicit or procure insurance business without being appointed to act as such by Tata AIG Suspended or Cancelled by either party. the insured or insured's representatives to complete the necessary
(b) induce the prospect to omit any material information in the proposal form; c) This Appointment is subject to the Agent clearing the background formalities pertaining to their claim for Tata AIG's immediate attention.
(c) induce the prospect to submit wrong information in the proposal form or documents submitted to Tata AIG for acceptance of the proposal; verification conducted by Tata AIG or any other external agency Under no circumstances the Agent shall pay or settle any claim, nor
Agent’s Sign :

authorized to conduct the same. admit any liability or institute legal proceedings or represent Tata AIG in
(d) resort to multilevel marketing for soliciting and procuring insurance policies and/or induct any prospect/policyholder to join a multilevel le

Agent’s Sign :
Affix
marketing scheme.
3. EXCLUSIVITY OF THE AGENT
(e) behave in a discourteous manner with the prospect; Identity Card
Affix a) The Agent agrees not to represent directly or indirectly any other
(f) interfere with any proposal introduced by any other insurance agent; Card
Identity general insurance company or to canvass or to procure insurance
(g) offer different rates, advantages, terms and conditions other than those offered by Tata AIG; business for and on behalf of other insurance companies during the
currency of the appointment. The Agent commits himself/herself to
(h) demand or receive a share of proceeds from the beneficiary under an insurance contract;
offer any policy renewal or new business solely and exclusively to Tata
(i) offer any rebate which is prohibited under Section 41 of the Insurance Act1938
AIG. The Agent hereby binds himself/herself not to solicit or sell either
(j) force a policyholder to terminate the existing policy and to effect a new policy from him within three years from the date of such termination of the
earlier policy; directly or indirectly in any manner whatsoever any such insurance
policy of any other Company as stipulated under the applicable law.
(k) apply for fresh agency appointment to act as an insurance agent, if his agency appointment was earlier cancelled by the designated official, and a
period of five years has not elapsed from the date of such cancellation; b) Subject to what is stated above and the Schedules attached hereto, the
(l) become or remain a director of any insurance company; Agent shall submit applications for General insurance business solicited
by him/her to Tata AIG for its approval. The Agent upon receipt of any
3) Every insurance agent shall, with a view to conserve the insurance business already procured through him, make every attempt to ensure remittance of
new application of insurance, notices of alterations and/or cancellation
premiums by the policyholders within 24 hours, by giving notice to the policyholder orally and in writing;
of policies shall immediately forward the same to Tata AIG.
4) Every insurance agent, in contravention of the provisions of the Insurance Act1938 (4 of 1938) as amended from time to time, shall be liable to a penalty
which may extend to ten thousand rupees. 4. MINIMUM BUSINESS REQUIRMENTS
5) Every insurance agent shall maintain strict confidentiality of the information received from any prospect and / or Tata AIG in the course. of business. a) The Agent is required to maintain the following minimum standard of
performance annually to entitle to continue his/her insurance agency
with Tata AIG:
 i. 6 policies, or
ii. As specified by Tata AIG from time to time.
b) Annual business performance review will be done by Tata AIG for the
Agent after completion of every Twelve (12) months.
c) In an event of performance of the Agent not being satisfactory or failure
of an Agent to meet the minimum business requirement in a year, Tata
AIG reserves the right to take appropriate action including termination
of agency.
5. PREMIUM COLLECTION
a) The Agent further undertakes to take necessary steps to collect
applicable and appropriate amounts of premiums on business solicited
/ procured by him/her. In the event the remittance is tendered to Tata AIG
by the Agent by way of payment other than cash Tata AIG's official
8 receipt shall not be valid until such remittance is honoured on
presentation for payment. The Agent shall be solely and entirely
8
legal proceedings in connection with any matter relating to the claims or
the business of Tata AIG.
7. COMMISSION
a) Tata AIG shall pay to the Agent the commission (expressed as a
percentage of total Net premiums collected) on the business procured
by the Agent (subject to full quality standards, meeting underwriting
standards, budgets and the like) at the rates specified under the Act or
stipulated in the Regulations issued by IRDAI from time to time on new
or renewed insurance business secured and effected by the Agent and
accepted by Tata AIG provided that the premiums shall have been
actually received by Tata AIG.
b) Tata AIG shall, based on Policies bound in the system, calculate the
commissions earned (less all-applicable levies / taxes), by the Agent at
the end of each calendar month.
c) It is expressly agreed to between Tata AIG and the Agent that upon any
premium refunded or a rebate been made whether by way of
endorsement, cancellation of policy or otherwise the commission
payable to the Agent on such policy shall be reduced proportionately.
d) It is further agreed to by the Agent that in respect of any business where
Tata AIG deems it necessary Tata AIG may reduce or increase the
commission payable to the Agent and Tata AIG is at liberty to amend
vary or revoke the schedule of commission payable at any time subject
to the IRDAI Rules and Regulations.
e) It is understood that the Agent will not be entitled to any commission on
any business solicited by him after expiry of his/her appointment unless
the appointment is renewed without any gap.
f) In the event of unfortunate death of the Agent, all unpaid commissions
can be paid / released to the appointed nominee of the Agent and in the
absence of nomination, after receipt of proper documentation of the
legal heir.
8. PROHIBITION OF REBATES
The agent shall not allow or offer, either directly or indirectly as an
inducement to any person to take out or renew or continue an insurance
in respect of any kind of risks relating to lives or property in India any
 rebate of the whole or part of the commission paid or any rebate shown
on the policy, nor shall the agent taking out or renewing or continuing
the policy accept any rebate except such rebate as may be allowed in
accordance with the prospectus or tables of the insurer.
9. AGENT AS TRUSTEE
All monies, properties or securities received by the Agent for and behalf
of Tata AIG shall be held by him/her in a fiduciary capacity as a fiduciary
trustee on trust and on behalf of Tata AIG. The Agent shall not use,
appropriate and / or in any manner whatsoever dispose off such
monies, properties or securities received by him/her on behalf of and
belonging to Tata AIG but shall immediately and promptly report to Tata
AIG of the fact of the receipt and handover to Tata AIG all such monies,
properties or securities in his possession.
10. AGENT'S OBLIGATION
a) The Agent shall not and does not have the right to negotiate or enter into
any contracts and/or agreements of any nature whatsoever on behalf of
Tata AIG and Tata AIG shall not be bound by any contract and/or
agreement made by the Agent or any of the Agent's staff or
representatives. This clause shall not affect or prejudice the Agent's
right to solicit, procure or canvass applications and business of
insurance between any persons and Tata AIG. The Agent while doing so
agrees and undertakes to adhere to the code of conduct as
stipulated herein.
b) No staff or representatives of the Agent if any, shall be deemed to be
engaged or employed by Tata AIG or on behalf of Tata AIG. Any cost and
or expenses and or liabilities and or obligations incurred by such staff or
representative engaged by the Agent shall be the sole responsibility of
the Agent. Any representation or warranty by the Agent to his staff or
representatives that they are being engaged or employed by Tata AIG
shall be a breach of this appointment, shall not bind Tata AIG and shall
be void ab initio.
c) The Agent shall ensure compliance under The Prevention of Money
Laundering Act, 2002 as may be amended from time to time, IRDA
master circular on Anti-Money laundering as may be amended from
Agent’s Sign :
time to time and Tata AIG's Anti Money Laundering Policy as detailed in
Schedule - A annexed to these terms.
11. ADVERTISING OR PUBLICATION BY AGENT
The Agent shall not publish or cause to be published in any media, print
and or electronic, any advertisement concerning Tata AIG or its
products without the prior written approval and authority of Tata AIG
and further such matter to be published or caused to be published in any
media, print or electronic shall be approved in writing by Tata AIG. The
Agent shall not distribute any circular or writing concerning Tata AIG or
its products without the prior written approval of Tata AIG. Any such
matter to be published or caused to be published in any type of media
whatsoever or any such circular or writing concerning Tata AIG shall
comply with the IRDA (Insurance Advertisements & Disclosures)
Regulations, 2000. If any law suit shall be brought against Tata AIG as a
consequence of any unauthorized action or publication or statement of
the Agent or the Agent's staff or representative in any media, print,
electronic or in any other form or for any such action caused by the
Agent or Agent's staff or representative, all cost, loss or damages arising
therefrom shall be borne by the Agent.
12. REPORTING BY AGENT
a) The Agent shall periodically as instructed by Tata AIG from time to time
furnish to Tata AIG a detailed report on all policies, receipts or notes in
possession of the Agent for delivery or collection by policy holders on
policies etc. including every item of business transacted by him/her and
such other information pertaining to monies, properties, securities etc.
as required by Tata AIG. The Agent shall also furnish to Tata AIG an
activity report pertaining to the details regarding business calls made
and attended.
b) Books of accounts and other records pertaining to the insurance
business canvassed by the Agent and maintained by him/her in
accordance with Law or otherwise shall also from time to time be made
available to Tata AIG upon a request from Tata AIG for inspection and
further Tata AIG shall be entitled to take extracts, copies of all such books ACCEPTABLE DOCUMENTS LIST: SOURCE OF FUNDS
of accounts and other records as may be maintained by the Agent under Standard Income proofs: Non-standard Income Proofs:
these Terms. Income tax assessment orders / Income Tax returns Chartered Accountant's Certificate
Employer's certificate Agricultural Income Certificate
13. RETURN OF DOCUMENTS Audited Company accounts Agricultural-land details and Income assessments
The Agent shall unconditionally upon a demand made by Tata AIG shall Audited firm accounts and Partnership Deed Bank Cash-flow statements, Passbook
return to Tata AIG all documents in possession of the Agent directly or
indirectly pertaining to Tata AIG including but not restricted to unpaid or 1.2 Training and Awareness
uncollected policies and premium debit notes or receipts in his As per AML guidelines, the concept of AML/ CFT has to be a mandatory part of the in-house training curriculum for agents. Hence, it is a duty of agent to
possession belonging to or pertaining to Tata AIG. In the event the attend and successfully complete the induction as well as periodic refresher training and keep themselves duly familiarized of their obligation under the
Agent fails to comply with these provisions he shall be wholly and solely IRDA Guidelines on Anti Money Laundering.
responsible to Tata AIG for any such loss or damages or liabilities. 1.3 Internal and External reporting procedures
1.3.1.Cash Transaction Reporting
14. ALTERATIONS ON DOCUMENTS Any cash transaction over Rs.10 lacs and integrally connected cash transactions over Rs.10 lacs per month need to be reported to Tata AIG.
The Agent shall not under any circumstances make any alterations, 1.3.2 Suspicious Transaction Reporting
additions or deletions on any of the documents belonging to Tata AIG Suspicious transactions (included attempted transactions, whether or not made in cash and irrespective of monetary value involved) are required to
which may from time to time be in the possession of the Agent. reported immediately on identification. An illustrative list of such transactions as given by IRDA is given below:
a. Customer insisting on anonymity, reluctance to provide identifying information, or providing minimal, seemingly fictitious information.
15. DISCLOSURE AND INDEMNITY
b. Cash based suspicious transactions for payment of premium and top ups over and above Rs.5 lakhs per person per month. It should also consider
a) It shall be the duty of the Agent and its officers and servants at all times
multiple DDs each denominated for less than Rs.50,000/-
and under all circumstances to disclose to Tata AIG every fact and
c. Frequent free look surrenders by customers
circumstances within their knowledge which maybe directly and
d. Assignments to unrelated parties without valid consideration
indirectly relevant to the acceptance of the risk by Tata AIG in respect of
e. Policy from a place where he does not reside or is employed
the business procured and canvassed by the Agent on behalf of Tata AIG
f. Frequent request for change in addresses
and shall accurately relate to Tata AIG every such fact disclosed to the
g. Inflated or totally fraudulent claims e.g. by arson or other means causing a fraudulent claim to be made to recover part of the invested
Agent and its representatives and such other information or facts which
illegitimate funds
may have come to the knowledge of the Agent or its representatives
h. Overpayment of premiums with a request for a refund of the amount overpaid
directly or indirectly.
i. Frequent cancellation of policies for the return of premium by insurer's cheque
b) The Agent shall indemnify and keep indemnified Tata AIG against all
Any issues under Anti-Money Laundering should be reported to the Principal Compliance Officer (PCO) of Tata AIG.
losses incurred by Tata AIG arising out of and in connection with the
1.4 Record Keeping
Agents failure to disclose to Tata AIG such facts within the knowledge of
Agents/ have to maintain records of all transactions for a period of ten years from the date of transaction. Where insures are required to maintain
the Agent or its representatives.
records under other applicable Acts and Regulations, records shall be retained as provided in the said Acts and Regulations, but not less than ten
16. CONDUCT AND COMPLIANCE years from the date of transaction
a) The Agent shall always conduct his insurance business with integrity The record of documents evidencing identity of customers and beneficial owners as well as account files and business correspondence relating to
the customer and contracts settled by claim (maturity or death), surrender or cancellation, shall be maintained for a period of five years after the
Agent’s Sign :
and honesty placing the interest of his clients before his own interest,
business relationship with the customer has ended.
make full and adequate disclosure of all facts necessary for his clients to
make an intelligent decision, continue to provide after sales service to 1.5 Other obligations/ stipulations pertaining to Agents
his clients, their beneficiaries and observe and comply with all laws, a. When faced with a non-compliant agent, Tata AIG has the right to take necessary action to secure compliance, including when appropriate,
terminating its business relationship with such agent/ corporate agent.
regulations and statutory requirement.
b. When the agent notices intentional splitting of policies/ issue of number of policies to one or more entities to bypass the thresholds established
b) The Agent further undertakes and agrees to comply with all the
under the Guidelines, it should refuse to accede to such requests and report the case to Tata AIG.
applicable provisions of the Insurance Act, 1938, other applicable laws,
c. Under the Prevention of Money Laundering Act ('PMLA'), offence of money laundering is punishable with rigorous imprisonment for a min. period of
legislations as amended or enacted from time to time and the
3 years and a monetary penalty.
Regulations as stipulated by IRDA from time to time and further to act
Any issues under Anti-Money Laundering should be reported to the Principal Compliance Officer ('PCO') of Tata AIG.
and conduct themselves in strict compliance with the terms and
conditions contained herein.
17. RIGHT OF TATA AIG TO ADVERTISE
The Agent hereby agrees that upon its ceasing to be an Agent of Tata
AIG whether by the expiration of the appointment or otherwise Tata AIG
shall be entitled to publish notices in newspapers etc. notifying the
policy holders and the general public that the Agent has ceased to be an
Agent of Tata AIG and is not authorized to solicit any insurance business
on behalf of Tata AIG.
18. NON-DISCLOSURE
For the purpose of procuring Insurance business for Tata AIG, Tata AIG
may be required to furnish confidential information, materials,
documents and policies regarding their various products which inter-
alia may contain innovative products and further Tata AIG may also be
required to furnish various details regarding marketing, pricing etc. in
respect of such products. Considering the confidentiality to be
maintained the Agent has expressly agreed to maintain complete
confidentiality of all such confidential information, documents, policies,
etc. as may be submitted to them by Tata AIG.
The term "Confidential Information" does not include information which
i. is already in the Agent's possession or
ii. becomes generally available to the public other than as a result of a
disclosure by Agent or Agent's officers, employees, Agents,
advisors, or representatives of such advisors or
 ACCEPTABLE DOCUMENTS LIST: IDENTITY AND ADDRESS PROOF
Features
Insurance Contracts with individuals
Legal name and any other names used
Proof of Residence
Proofs of both Identity and Residence
Agent’s Sign :
Insurance Contract with Companies
Name of Tata AIG
Principal place of business
Mailing address of Tata AIG
Telephone/ Fax number
Insurance Contracts with Partnership Firms
Legal name
Address
Names of all partners and their addresses
Telephone numbers of the firm and partners
Insurance contracts with Trusts & Foundations
Name of trustees, settlers, beneficiaries
and signatories
Names and addresses of the founder, the
managers/directors and the beneficiaries
Telephone/fax number
Documents
I. Passport
ii. PAN card
iii. becomes available to Agent on a non-confidential basis from a c) However, the appointment shall terminate without notice on either side
iii. Driving License source other than Tata AIG provided such source is not known by Agent automatically upon the occurrence of any of the following events:
iv. Voter's ID card to be bound by a confidentiality agreement with or other obligation of i. Does not meet the minimum business requirements
v. Letter from a recognized Public authority (as defined under Section 2(h) of the Right to secrecy to Tata AIG or another party. ii. Voluntary surrender of Agency appointment by the Agent
Information Act, 2005) or Public Servant (as defined in Section 2(c) of the Prevention 19. RESIGNATION / SURRENDER OF APPOINTMENT BY THE AGENT iii. Serious professional misconduct or mistake by the Agent
of Corruption Act, 1988) verifying the identity and residence of the customer.
In case the Agent wishes to surrender his/her agency with Tata AIG, iv. Death of the Agent
vi. Personal identification and certification of the employees of the insurer for identity of
he/she needs to submit a resignation letter along with the appointment v. Upon issuance of the Final order for cancellation of agency of the
the prospective policyholder.
letter and Identity Card issued by Tata AIG. Such resignation shall be insurance agent post enquiry
vii. Job card issued by NREGA duly signed by an officer of the State Government,
subject to evaluation and approval by Designated Official of Tata AIG. On d) This appointment is based on information furnished and representation
viii. Letter issued by the Unique Identification Authority of India containing details of name,
acceptance of resignation, Tata AIG shall issue the cessation certificate made by the agent. If any information or representation is found to be
address and Aadhaar number
to the Agent. incorrect or if any material information is found by Tata AIG to have been
I. Telephone Bill pertaining to any kind of telephone connection like mobile, landline, suppressed by him/her or any action on his/her part is found to be in
20. SUSPENSION AND CANCELLATION
wireless etc provided it is not older than six months from the date of insurance contract. contravention to the terms and conditions of appointment or the Code
The appointment of the agent may be cancelled or suspended after due
ii. Current passbook with details of permanent/present residence address of conduct, then Tata AIG will have the right to terminate his/her services
notice and after giving him/her a reasonable opportunity of being heard
iii. Current statement of bank account with details of permanent/present residence address at any time without notice.
if he/she :-
(as downloaded)
i. Violates the provisions of the Insurance Act, 1938 (4 of 1938),Insurance
iv. Letter from any recognized public authority. 22. RE-APPOINTMENT / RE-INSTATEMENT OF AGENT
Regulatory and Development Authority Act, 1999 (41 of1999) or rules or
v. Electricity Bill a) A person can apply for re-appointment / re-instatement of his/her
regulations, made there under as amended from time to time;
vi. Ration Card appointment to act as an Agent of Tata AIG only for the following
ii. Attracts any of the disqualifications as stipulated under Section 42(3) of
vii. Valid lease agreement along with rent receipt, which is not more than three months' old as categories
the Act,
residence proof. Terminated Agent - Terminated by Tata AIG due to non fulfillment of
iii. Fails to comply with the Code of Conduct as mentioned in these terms
viii. Employer's certificate as a proof of residence (Certificates of employers who have in place and conditions and directions issued by the IRDAI from time to time. minimum business requirement,
systematic procedures for recruitment alongwith maintenance of mandatory records of its iv. Fails to furnish any information relating to his/her activities as an agent Resigned Agents - Resigned voluntarily
employees are generally reliable. as required by Tata AIG / IRDAI; Suspended Agent - If the suspension of the Agent is revoked on
ix. Job Card issued by NREGA duly signed by an officer of the State Government, v. Fails to comply with the directions issued by the Tata AIG/IRDAI; conclusion of disciplinary action and satisfactory report after
x. Letter issued by the Unique Identification Authority of India containing details of name, vi. Furnishes wrong or false information; or conceals or fails to disclose investigation,
address and Aadhaar number material facts in the application submitted for appointment of Agent or b) All such applications for re-appointment / re-instatement shall be
during the period of its validity. evaluated and approved by Tata AIG depending on merits of the case
i. Written confirmation from the banks where the prospect is a customer, regarding and re-appointment / re-instatement shall be at the discretion of
vii. Does not submit periodical returns as required by Tata AIG/IRDAI;
Agent’s Sign :
identification and proof of residence.
viii. Does not co-operate with any inspection or enquiry conducted by the Tata AIG.
ii. Current passbook with details of permanent/ present residence address Tata AIG / IRDAI;
23. CODE OF CONDUCT
iii. Affix
Current statement of bank account with details of permanent/ present residence address ix. Fails to resolve the complaints of the policyholders or fails to give a
(as Identity Card
downloaded) Agent shall adhere to and comply with the Code of Conduct as
satisfactory reply to the IRDAI in this behalf;
iv. (Provided supported by officially valid documents carrying photograph and issued by any prescribed by the Insurance Regulatory and Development Authority of
regulated entity/ Govt. like debit card, credit card, kisan card etc.) 21. TERMINATION India Guidelines on Appointment of Insurance Agents, 2015, as
i. Certificate of incorporation and Memorandum & Articles of Association. a) In the event of any breach of the provisions of the terms and condition amended from time to time and as specified in the Schedule 'B'
ii. Resolution of the Board of Directors to open an account and identification of those who mentioned herein, the Agent hereby authorizes and gives the right to attached hereto.
have authority to operate the account. Tata AIG to terminate the appointment of the Agent without prior notice
24. GOVERNING LAW AND JURISDICTION
iii. Power of Attorney granted to its Managers/Officers or employees to transact on its to the Agent and without any liability towards the Agent towards
behalf. This appointment shall be governed by the applicable laws of India and
compensation, damages etc.
iv. Copy of PAN Allotment letter / PAN Card. shall be subject to exclusive jurisdiction of the competent courts of
b) Further the appointment can be terminated by Tata AIG immediately on
Mumbai, India.
i. Registration certificate, if registered. giving a notice to the Agent and by the Agent by giving two months
ii. Partnership Deed notice.
iii. Power of Attorney granted to a partner or an employee to transact business on its
These terms of appointment shall be read in conjunction with the Insurance Laws and the applicable IRDAI Regulations / Circulars. In case of any
behalf.
inconsistency between the provisions of these Terms and the Insurance Laws, the latter shall prevail.
iv. Any officially valid document verifying the identity of the partners and the persons
holding POA and their addresses. Sincerely,
i. Registration certificate, if registered. For Tata AIG General Insurance Company Limited
ii. Power of Attorney granted to office bearers to transact business on its behalf.
iii. Any officially valid document to identify the trustees, settlers, beneficiaries and those
holding POA, founders, managers/ directors and their addresses.
iv. Resolution of managing body of the foundation/association
Designated Official
Acknowledgement
I, the Agent, hereby confirm that I have received copies of the two enclosures (Responsibilities of the agent vis-a-vis the prevention of money laundering and
the Code of Conduct) along with this Appointment letter and have understood and accept the contents and obligations mentioned therein.
Name Of Agent :
Signature of Agent :
Agency code :
8
 ANNEXURE 'A'
RESPONSIBILITIES OF THE AGENT
VIS A VIS THE PREVENTION OF MONEY LAUNDERING

The Agent is required to strictly follow the AML guidelines while sourcing business on behalf of Tata AIG.
1. The key elements of Anti-Money Laundering policy are:
Know Your Customer (KYC)
Training and awareness
Internal and External reporting procedures
Record keeping
Other obligations/ stipulations pertaining to agents/ corporate agents
1.1 Know Your Customer Guidelines
1.1.1 KYC has to be carried out for all customers. It is of two types - Basic KYC and Enhanced KYC.
Basic KYC involves verification of identity and residence of customers. It involves collection of identity proof, address proof and lat.est photograh
Enhanced KYC involves in addition to basic KYC, ascertainment of genuineness of source of funds by verification of income document.
Special care has to be exercised to ensure that contracts are not anonymous or under fictitious names. No contract can be entered into with persons of
known criminal background or known to be engaged in money laundering/ terrorist financing activities.
Remittances of premium by cash exceeding Rs.49,999/- will not be accepted. Acceptance of Premium beyond Rs.49,999/- will be only through cheques,
demand drafts, credit card or any other banking channels.
1.1.2 When will KYC be done?

k
Basic KYC as prescribed by IRDA to be carried out for all policies at the settlement stage where claims payout/premium refund cross a threshold of Rs.1

n lakh per claim/ premium refund irrespective of the payment mode.

Bla
At issuance stage, KYC is required in following cases:
PAN to be collected for all cases where the contracted annual premium on a per-policy basis exceeds Rs.1 lac.

ll y Enhanced KYC is to be conducted for cases where premium exceeds Rs. 10 lac.

n a In cases where payments are made to third party service providers, KYC norms will apply on the customers on whose behalf the service providers act.

o
AML/ CFT checks become more important where claims on policies are assigned by policyholders to third party not related to him (except where

n t i assignment is to banks/FIs/Capital Market Intermediaries regulated by IRDA/SEBI/RBI). Especially where there is a suspicion of money laundering or

e
terrorist financing or factors to indicate higher risk, AML/CFT checks need to be carried out on such assignments and any suspicion to be immediately

n t reported to Tata AIG.

si
Enhanced due diligence is also required while taking insurance risk exposure to individuals/ entities connected with countries identified by Financial Action

i Task Force (FATF) as having deficiencies in AML/CFT regime or countries considered as high risk from terrorist financing or money laundering pe rs.pective

Agent’s Sign :
ge 1.1.3 How will KYC be done?

a KYC has to be done basis acceptance and verification of identity, address and source of funds of the customer

sP
If the document of identity also gives the proof of residence, no further documentation would be necessary in cases where proof of residence needs to be

i
Th
obtained. In other cases, the companies may verify their current residential detail as given in the guidelines.
It is imperative to ensure that the insurance being purchased is reasonable. Accordingly, customer's source of funds, his estimated net worth etc.,
should be documented where necessary and the advisor and/or employee shall obtain income proofs as in mentioned below to establish his need for
insurance cover, wherever required