Phone

frqgkqrqr*r;q?ffifufr*s :022-22708100
22708400
THE NEW INDIA ASSURANCE COMPANY LTD. Website : www.newindia.co.in
t*ga Ei uun atqt-fl : 3 Efsqr qr*r+ frRir, sz, qdrflr ffi qrt, stJ, g{$ - 400 00i.
Regd. & Head Offlce : New lndia Assurance Bldg., 87, M.G.Road, Fort, Mumbai - 400 001.
clN No' L66000MH't919Go1000526
For lnternot circulotion onlv
Not to be posted on Sociol Medio

REF:HO:AGENCY:COMMISSION:Cl R:2023-24: 1 I
28th Morch,2O24

TO AtL REGIONAL OFFICES

Re: Revised slruclure of Commission ond Remunerotion

to lnsurqnce Aqenls ond lntermediories w.e.f. 0,l.04.2024

This hos reference to Circulor Ref. no. REF:HO:APEP:DEPT.:ClR:2017:001 doted 0l't

April,2Ol7 for poyment of commission/remuneroiion to Agents/lntermediories w.e.f.
l,t April 2017 os per IRDAI reguloiion ond subsequent omendment os per IRDAI
Notificotion doted lOth October,2017 w.e.f Olsr Novembel,2OlT.

Bosed on the performonce review ond feedbock from Technicol deportment ond
vorious stokeholders it hos been decided to modify the Commission Slruclure of
Privote Cors & Two Wheeler w.e.f 0'l't April.2024.

Heolth lnsuronce:

Sr.No. Line of business Commissions/

Remunerotion
I Heolth-lndividuol 1s%

a Eo7
2 Heolth-Group ( Employer-Employee only)-Annuol t.J/o

a Heolth-Group (Non Employer-Employee groups - ts%

not formed solely for ovoiling insuronce os
defined in IRDA Group Guidelines of l4th July
2005) - Annuol
4 Heolth - Group (credit linked upto 5 yeors ts%

5 Heolth-Govt. Scheme As specified in the

Government Scheme /
Notificotion else os per
Heolth - Group
(Employer - Employee
only - Annuol segment)

*
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THE NEW INDIAASSURANCE CO., LTD., MUMBAI (H.O )

Motor lnsuronce:(Privole Cor &Two Wheeler)

OD Commission IP Commission
Product ( includins Rewords) ( includinq Rewords)
Privote Cor 20% rs.00%
Privote Cor Stondolone OD 20%
Privote Cor Stondolone TP rs.00%
Two wheeler 25% r0.00%
Two wheeler Stondolone OD 20%
Two wheeler Stondolone TP r0.00%
CPA for Pvt Cor / TW 3.25%

Motor lnsuronce :(Other thon Privote Cor &Two Wheeler)

Motor
YEAR Motor (Stond Alone TP)
(Comprehensive)

Cerlificole.of registrotion - l5% (OD portion) +

2.s0%
1 sl lo 3rd Yeor Nil- TP portion)

Certificote of regislrotion l5% (OD portion) +

2.s0%
4th yeor onwords 25%- TP portion)

Sr.No. Line of business Moximum Moximum

Commission Remunerotion
poyoble to poyoble lo
lnsuronce insuronce
Aqents lntermediories
I Fire-Retoil 1s% 16.5%
2 Fire-Corporote(Risks with S.l.<Rs.2.500 crs) 10% 11.5%
? EO
Fire-Corporote I Risks with S.l.>Rs.2,500 crs ] J/o 6.25%
4 Morine - Corgo 15% 16.5%
5 Morine Hull t0% 11.5%
6 Miscelloneous - Retoil 15% 16.5%
7 Miscelloneous - Corporote/Group* 10% 12.5%
B Miscelloneous - Corporote (Engineering J/o Ed
6.2s%
risks with S.l. >Rs.2,500 crs.)
. Commission / remunerolion sholl be poyoble os per Government Notificotion.

*
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THE NEW TNDTAASSURANCE CO. LTD., MUMBAT (H.O.)

The Commission Structure sholl beopplicoble for the period of 3 months i .e. from
I'rApril 2024 to 30rn June.2024 ond sholl be subject to revision w'e.f. 01.O7.2024 or
eorlier, if deemed necessory.

The finol outhority for interpretolion of Circulor provisions sholl lie with the Competent
outhority.

pleose ensure lhot the Circulor is brought to the notice of eoch ond every
Agent/ POS P/lM F/N O N tvt tS /-!-m m edio lelv.
-
/.BtoKe.
lT Deportment hos been odvised to effect necessory chonges in CWISS w.e.f.
01.o4.2024.

#'frSG-A;,pi-l
GenerolMbnoger

Agency Commission doc

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