1. Definitions & Regulatory Status

“SARGAM Insurance Brokers Pvt. Ltd..” (“Sargam Insurance”) is a licensed Direct Insurance Broker registered with the Insurance Regulatory and Development Authority of India (IRDAI), having IRDAI Broker Code: 577. We are a member of the Insurance Brokers Association of India (IBAI), in compliance with the IRDAI Brokers Regulations, 2018.

2. Scope of Services & Responsibility

We act on behalf of clients—not insurers—to recommend and assist in procuring insurance. All ultimate decisions, including policy selection and acceptance, rest with you, and we do not underwrite. Policy issuance, benefits, and claims are governed by the insurer’s terms and subject to underwriting. This aligns with IRDAI norms that brokers act as intermediaries and not underwriters.

3. Code of Conduct

• Providing fair and transparent comparisons of policies, including terms of coverage, price, and service levels.
• Disclosing validity of quotations, methods and timing of premium payments, and procedures for claims.
• Explaining all material features and restrictions of insurance contracts in plain language, including warranties or unusual clauses.
• Promptly forwarding any client claim information to insurers—within three working days—and providing all reasonable claim assistance.

4. Disclosure & Conflict Avoidance

• Any remuneration we receive from insurers or brokers, on request and as per IRDAI requirements.
• Any potential conflicts of interest and ensure no favoritism towards any insurer.

5. Complaint & Grievance Redressal

• Complaints can be lodged via phone, email, or online; acknowledgment within 14 days.
• Resolution will involve senior staff and clear communication on escalation, including IRDAI assistance.

6. Documentation & Record-keeping

• Prompt dispatch and plain-language explanations of policies and documents.
• Clients may transfer documentation to a new broker upon request.
• Retention of records and accounts for a minimum of 7 years as mandated by IRDAI.

7. Compliance & Internal Controls

• Adherence to all applicable laws, regulations, circulars, and IRDAI instructions.
• Maintenance of internal controls, audit systems, and Board-approved policies.
• Preparation and submission of audited financials and required returns to IRDAI within timelines.

8. Advertising & Marketing Practices

• Compliance with IRDAI’s Advertising & Disclosure Regulations.
• Accurate, substantiated, and non-misleading statements.
• Clear distinction between contractual and non-contractual benefits.

9. Jurisdiction & Amendments

• These terms are governed by the laws of the Republic of India.
• Any modifications will be updated on our website, and your continued use indicates acceptance of changes.