CHAPTER 44 / 55 · Paid
Manager, agents, broker, salesperson, claims professional and TPA.
Follow each insurance service shop. An agent is not a broker.
Approx. 24 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
How this family is grouped
Follow each insurance service shop. An agent is not a broker. Each code below is its own shop: a first file, a week, the asks that need a different paper, then the letter. A quieter label is not a thinner file.
INS-2.1 Insurance Manager
FSC · INS-2.1 · Licence
1. ManageCover Ltd’s shop
ManageCover Ltd is the desk this chapter is for. Act as insurance manager.
The first file on the desk is this. ManageCover Ltd will run underwriting operations for an external insurer, and also holds a Lloyd’s coverholder appointment. INS-2.1, including the coverholder extra fees if that appointment is on the file.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 70. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not the insurer, not a captive insurance agent, and not a broker.
Third, the assumptions stay in the file. Fictional manager. Cut-off 20 September 2026.
Insurance Act 2005, Section 70. See the register note · Open the published text ↗.
2. A week with A manager of external cells
Monday. The promoter walks in with “A manager of external cells.” Write the facts before anyone names a code: ManageCover Ltd will run underwriting operations for an external insurer, and also holds a Lloyd’s coverholder appointment.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Act as insurance manager.
Wednesday. They record what this permission is used for. INS-2.1, including the coverholder extra fees if that appointment is on the file.
Thursday. They write what the letter does not cover. The manager is not INS-1.3.
Friday. They lock the assumptions. Fictional manager. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.1 is used for. The Act matters when ManageCover Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A manager of external cells
ManageCover Ltd will run underwriting operations for an external insurer, and also holds a Lloyd’s coverholder appointment.
Why it fits. INS-2.1, including the coverholder extra fees if that appointment is on the file.
Different paper
The same promoter asks for the insurer
The slide says the INS-2.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. The manager is not INS-1.3.
Different paper
The same promoter asks for captive insurance agent
The slide says the INS-2.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. The manager is not INS-1.3.
| The promoter asks ManageCover Ltd to… | This licence? | Why |
|---|---|---|
| A manager of external cells | Yes | INS-2.1, including the coverholder extra fees if that appointment is on the file. |
| The same promoter asks for the insurer | No | Keep the neighbouring paper off this desk. The manager is not INS-1.3. |
| The same promoter asks for captive insurance agent | No | Keep the neighbouring paper off this desk. The manager is not INS-1.3. |
4. Papers that sit beside this one
Not the insurer, not a captive insurance agent, and not a broker. Name the other desk when the work changes: the insurer; a captive insurance agent; a broker.
- the insurer
- a captive insurance agent
- a broker
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The insurance manager. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing USD 1,400 plus additional USD 700 for Lloyd’s Coverholder. Status at cut-off: Published insurance-service-provider category as at 1 July 2026.
Who may hold it. The insurance manager. Lloyd’s coverholder is an extra fee limb, not a separate directory code.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Criteria column is a dash on the captured row; form is present.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.1 Insurance Manager |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 70 |
| Fees as at 1 July 2026 | Processing USD 1,400 plus additional USD 700 for Lloyd’s Coverholder. Annual USD 2,600 plus additional USD 1,600 for Lloyd’s Coverholder. |
| Status at cut-off | Published insurance-service-provider category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.2A Insurance Agent (Company)
FSC · INS-2.2A · Licence
1. AgencyMotors Ltd’s shop
AgencyMotors Ltd is the desk this chapter is for. Act as an insurance agent that is a company.
The first file on the desk is this. AgencyMotors Ltd will sell CoverIsle motor policies from a network of branches. INS-2.2A.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 70. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not an individual agent (2.2B), not a broker (2.3), and not a salesperson registration.
Third, the assumptions stay in the file. Fictional agency. Tied to one insurer. Cut-off 20 September 2026.
Insurance Act 2005, Section 70. See the register note · Open the published text ↗.
2. A week with A motor-agency company
Monday. The promoter walks in with “A motor-agency company.” Write the facts before anyone names a code: AgencyMotors Ltd will sell CoverIsle motor policies from a network of branches.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Act as an insurance agent that is a company.
Wednesday. They record what this permission is used for. INS-2.2A.
Thursday. They write what the letter does not cover. Not a broker shopping the market, and not INS-2.2B.
Friday. They lock the assumptions. Fictional agency. Tied to one insurer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.2A is used for. The Act matters when AgencyMotors Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A motor-agency company
AgencyMotors Ltd will sell CoverIsle motor policies from a network of branches.
Why it fits. INS-2.2A.
Different paper
The same promoter asks for an individual agent (2.2B)
The slide says the INS-2.2A letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not a broker shopping the market, and not INS-2.2B.
Different paper
The same promoter asks for broker (2.3)
The slide says the INS-2.2A letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not a broker shopping the market, and not INS-2.2B.
| The promoter asks AgencyMotors Ltd to… | This licence? | Why |
|---|---|---|
| A motor-agency company | Yes | INS-2.2A. |
| The same promoter asks for an individual agent (2.2B) | No | Keep the neighbouring paper off this desk. Not a broker shopping the market, and not INS-2.2B. |
| The same promoter asks for broker (2.3) | No | Keep the neighbouring paper off this desk. Not a broker shopping the market, and not INS-2.2B. |
4. Papers that sit beside this one
Not an individual agent (2.2B), not a broker (2.3), and not a salesperson registration. Name the other desk when the work changes: an individual agent (2.2B); a broker (2.3); a salesperson registration.
- an individual agent (2.2B)
- a broker (2.3)
- a salesperson registration
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
A company agent appointed by an insurer. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 6,200 (USD 500). Status at cut-off: Published insurance-service-provider category as at 1 July 2026.
Who may hold it. A company agent appointed by an insurer.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.2A
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.2A Insurance Agent (Company) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 70 |
| Fees as at 1 July 2026 | Processing fee Rs 6,200 (USD 500). Fixed annual fee Rs 24,000 (USD 1,200). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurance-service-provider category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.2A in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.2B Insurance Agent (Individual)
FSC · INS-2.2B · Licence
1. A sole-trader life agent’s shop
A sole-trader life agent is the desk this chapter is for. Act as an individual insurance agent.
The first file on the desk is this. Farah sells LifeIsle policies in her own name. INS-2.2B.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 70. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not the company-agent licence and not a salesperson registration (2.4).
Third, the assumptions stay in the file. Fictional individual. Cut-off 20 September 2026.
Insurance Act 2005, Section 70. See the register note · Open the published text ↗.
2. A week with A sole-trader life agent
Monday. The promoter walks in with “A sole-trader life agent.” Write the facts before anyone names a code: Farah sells LifeIsle policies in her own name.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Act as an individual insurance agent.
Wednesday. They record what this permission is used for. INS-2.2B.
Thursday. They write what the letter does not cover. Not INS-2.4 salesperson registration and not a broker.
Friday. They lock the assumptions. Fictional individual. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.2B is used for. The Act matters when A sole-trader life agent applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A sole-trader life agent
Farah sells LifeIsle policies in her own name.
Why it fits. INS-2.2B.
Different paper
The same promoter asks for the company-agent licence
The slide says the INS-2.2B letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.4 salesperson registration and not a broker.
Different paper
The same promoter asks for salesperson registration (2.4)
The slide says the INS-2.2B letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.4 salesperson registration and not a broker.
| The promoter asks A sole-trader life agent to… | This licence? | Why |
|---|---|---|
| A sole-trader life agent | Yes | INS-2.2B. |
| The same promoter asks for the company-agent licence | No | Keep the neighbouring paper off this desk. Not INS-2.4 salesperson registration and not a broker. |
| The same promoter asks for salesperson registration (2.4) | No | Keep the neighbouring paper off this desk. Not INS-2.4 salesperson registration and not a broker. |
4. Papers that sit beside this one
Not the company-agent licence and not a salesperson registration (2.4). Name the other desk when the work changes: the company-agent licence; a salesperson registration (2.4).
- the company-agent licence
- a salesperson registration (2.4)
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
A natural person agent. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 3,100. Status at cut-off: Published insurance-service-provider category as at 1 July 2026.
Who may hold it. A natural person agent.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.2B
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.2B Insurance Agent (Individual) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 70 |
| Fees as at 1 July 2026 | Processing fee Rs 3,100. Fixed annual fee Rs 9,300. No USD pair is printed on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurance-service-provider category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.2B in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.3 Insurance Broker
FSC · INS-2.3 · Licence
1. PlaceIsle Ltd’s shop
PlaceIsle Ltd is the desk this chapter is for. Act as an insurance broker — independent placement, not a tied agent.
The first file on the desk is this. PlaceIsle Ltd will shop property programmes among several insurers for hotel groups. INS-2.3.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 70. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not an agent, not a professional reinsurer, and not a TPA.
Third, the assumptions stay in the file. Fictional broker. Cut-off 20 September 2026.
Insurance Act 2005, Section 70. See the register note · Open the published text ↗.
2. A week with A commercial lines broker
Monday. The promoter walks in with “A commercial lines broker.” Write the facts before anyone names a code: PlaceIsle Ltd will shop property programmes among several insurers for hotel groups.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Act as an insurance broker — independent placement, not a tied agent.
Wednesday. They record what this permission is used for. INS-2.3.
Thursday. They write what the letter does not cover. Not INS-2.2A. Not INS-1.4.
Friday. They lock the assumptions. Fictional broker. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.3 is used for. The Act matters when PlaceIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A commercial lines broker
PlaceIsle Ltd will shop property programmes among several insurers for hotel groups.
Why it fits. INS-2.3.
Different paper
The same promoter asks for an agent
The slide says the INS-2.3 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.2A. Not INS-1.4.
Different paper
The same promoter asks for professional reinsurer
The slide says the INS-2.3 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.2A. Not INS-1.4.
| The promoter asks PlaceIsle Ltd to… | This licence? | Why |
|---|---|---|
| A commercial lines broker | Yes | INS-2.3. |
| The same promoter asks for an agent | No | Keep the neighbouring paper off this desk. Not INS-2.2A. Not INS-1.4. |
| The same promoter asks for professional reinsurer | No | Keep the neighbouring paper off this desk. Not INS-2.2A. Not INS-1.4. |
4. Papers that sit beside this one
Not an agent, not a professional reinsurer, and not a TPA. Name the other desk when the work changes: an agent; a professional reinsurer; a TPA.
- an agent
- a professional reinsurer
- a TPA
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The brokerage firm (or as the Act requires). Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 14,000 (USD 1,000). Status at cut-off: Published insurance-service-provider category as at 1 July 2026.
Who may hold it. The brokerage firm (or as the Act requires).
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.3
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.3 Insurance Broker |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 70 |
| Fees as at 1 July 2026 | Processing fee Rs 14,000 (USD 1,000). Fixed annual fee Rs 77,000 (USD 2,600). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurance-service-provider category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.3 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.4 Insurance Salesperson (Registration)
FSC · INS-2.4 · Registration
1. A counter salesperson’s shop
A counter salesperson is the desk this chapter is for. Registration as an insurance salesperson.
The first file on the desk is this. Kevin works in AgencyMotors’ showroom selling add-on motor cover. INS-2.4 registration.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a registration under Insurance Act 2005, Section 75. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not an individual agent licence and not a claims professional.
Third, the assumptions stay in the file. Fictional salesperson. Cut-off 20 September 2026.
Insurance Act 2005, Section 75. See the register note · Open the published text ↗.
2. A week with A counter salesperson
Monday. The promoter walks in with “A counter salesperson.” Write the facts before anyone names a code: Kevin works in AgencyMotors’ showroom selling add-on motor cover.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Registration as an insurance salesperson.
Wednesday. They record what this permission is used for. INS-2.4 registration.
Thursday. They write what the letter does not cover. Not INS-2.2B.
Friday. They lock the assumptions. Fictional salesperson. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.4 is used for. The Act matters when A counter salesperson applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A counter salesperson
Kevin works in AgencyMotors’ showroom selling add-on motor cover.
Why it fits. INS-2.4 registration.
Different paper
The same promoter asks for an individual agent licence
The slide says the INS-2.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.2B.
Different paper
The same promoter asks for claims professional
The slide says the INS-2.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.2B.
| The promoter asks A counter salesperson to… | This licence? | Why |
|---|---|---|
| A counter salesperson | Yes | INS-2.4 registration. |
| The same promoter asks for an individual agent licence | No | Keep the neighbouring paper off this desk. Not INS-2.2B. |
| The same promoter asks for claims professional | No | Keep the neighbouring paper off this desk. Not INS-2.2B. |
4. Papers that sit beside this one
Not an individual agent licence and not a claims professional. Name the other desk when the work changes: an individual agent licence; a claims professional.
- an individual agent licence
- a claims professional
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The salesperson, typically employed or attached as the Act requires. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 1,300. Status at cut-off: Published registration category as at 1 July 2026.
Who may hold it. The salesperson, typically employed or attached as the Act requires.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.4
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.4 Insurance Salesperson (Registration) |
| Legal nature | Registration |
| Enabling law | Insurance Act 2005 · Section 75 |
| Fees as at 1 July 2026 | Processing fee Rs 1,300. Fixed annual fee Rs 3,000. No USD pair is printed. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published registration category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.4 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.5 Claims Professional (Registration)
FSC · INS-2.5 · Registration
1. An independent motor assessor’s shop
An independent motor assessor is the desk this chapter is for. Registration as a claims professional.
The first file on the desk is this. AssessMU will inspect motor claims for several insurers. INS-2.5 registration under section 78.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a registration under Insurance Act 2005, Section 78. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not a TPA, not an adjuster slogan, and not an insurer.
Third, the assumptions stay in the file. Fictional assessor. Cut-off 20 September 2026.
Insurance Act 2005, Section 78. See the register note · Open the published text ↗.
2. A week with An independent motor assessor
Monday. The promoter walks in with “An independent motor assessor.” Write the facts before anyone names a code: AssessMU will inspect motor claims for several insurers.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Registration as a claims professional.
Wednesday. They record what this permission is used for. INS-2.5 registration under section 78.
Thursday. They write what the letter does not cover. Not INS-2.6 TPA and not the insurer.
Friday. They lock the assumptions. Fictional assessor. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.5 is used for. The Act matters when An independent motor assessor applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
An independent motor assessor
AssessMU will inspect motor claims for several insurers.
Why it fits. INS-2.5 registration under section 78.
Different paper
The same promoter asks for TPA
The slide says the INS-2.5 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.6 TPA and not the insurer.
Different paper
The same promoter asks for an adjuster slogan
The slide says the INS-2.5 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.6 TPA and not the insurer.
| The promoter asks An independent motor assessor to… | This licence? | Why |
|---|---|---|
| An independent motor assessor | Yes | INS-2.5 registration under section 78. |
| The same promoter asks for TPA | No | Keep the neighbouring paper off this desk. Not INS-2.6 TPA and not the insurer. |
| The same promoter asks for an adjuster slogan | No | Keep the neighbouring paper off this desk. Not INS-2.6 TPA and not the insurer. |
4. Papers that sit beside this one
Not a TPA, not an adjuster slogan, and not an insurer. Name the other desk when the work changes: a TPA; an adjuster slogan; an insurer.
- a TPA
- an adjuster slogan
- an insurer
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The claims professional as section 78 contemplates. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing Rs 22,500. Status at cut-off: Published registration category as at 1 July 2026.
Who may hold it. The claims professional as section 78 contemplates.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured row. Do not invent a PDF.
Rules, codes and circulars. CL20260107 for the fee review generally.
6. How to cite INS-2.5
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.5 Claims Professional (Registration) |
| Legal nature | Registration |
| Enabling law | Insurance Act 2005 · Section 78 |
| Fees as at 1 July 2026 | Processing Rs 22,500. No fixed annual fee is printed on the 1 July 2026 row. |
| Status at cut-off | Published registration category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-2.5 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-2.6 Third-Party Administrator
FSC · INS-2.6 · Licence
1. MedAdmin Ltd’s shop
MedAdmin Ltd is the desk this chapter is for. Act as a third-party administrator under section 78A.
The first file on the desk is this. MedAdmin Ltd will run pre-authorisation and claims payment for a medical insurer’s book. INS-2.6 / section 78A.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 78A. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not a claims-professional registration, not an insurer, and not a CIS administrator.
Third, the assumptions stay in the file. Fictional TPA. Cut-off 20 September 2026.
Insurance Act 2005, Section 78A. See the register note · Open the published text ↗.
2. A week with A medical TPA
Monday. The promoter walks in with “A medical TPA.” Write the facts before anyone names a code: MedAdmin Ltd will run pre-authorisation and claims payment for a medical insurer’s book.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Act as a third-party administrator under section 78A.
Wednesday. They record what this permission is used for. INS-2.6 / section 78A.
Thursday. They write what the letter does not cover. Not INS-1.2 and not INS-2.5.
Friday. They lock the assumptions. Fictional TPA. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-2.6 is used for. The Act matters when MedAdmin Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A medical TPA
MedAdmin Ltd will run pre-authorisation and claims payment for a medical insurer’s book.
Why it fits. INS-2.6 / section 78A.
Different paper
The same promoter asks for claims-professional registration
The slide says the INS-2.6 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 and not INS-2.5.
Different paper
The same promoter asks for an insurer
The slide says the INS-2.6 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 and not INS-2.5.
| The promoter asks MedAdmin Ltd to… | This licence? | Why |
|---|---|---|
| A medical TPA | Yes | INS-2.6 / section 78A. |
| The same promoter asks for claims-professional registration | No | Keep the neighbouring paper off this desk. Not INS-1.2 and not INS-2.5. |
| The same promoter asks for an insurer | No | Keep the neighbouring paper off this desk. Not INS-1.2 and not INS-2.5. |
4. Papers that sit beside this one
Not a claims-professional registration, not an insurer, and not a CIS administrator. Name the other desk when the work changes: a claims-professional registration; an insurer; a CIS administrator.
- a claims-professional registration
- an insurer
- a CIS administrator
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The TPA company administering claims or benefits on behalf of an insurer or scheme as the Act allows. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 25,000 (USD 900). Status at cut-off: Published insurance-service-provider category as at 1 July 2026.
Who may hold it. The TPA company administering claims or benefits on behalf of an insurer or scheme as the Act allows.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-2.6
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-2.6 Third-Party Administrator |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 78A |
| Fees as at 1 July 2026 | Processing fee Rs 25,000 (USD 900). Fixed annual fee Rs 47,500 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurance-service-provider category as at 1 July 2026. Section 78A, not section 78. |
The structured library card keeps the same coordinates for search. Open INS-2.6 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Insurance Act 2005 ↗ Sections 7, 11, 70, 75, 78, 78A · Register note
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