IRDA Insurance License
IRDA License is mandatory for insurance business/brokers in India. State insurance commissioner is responsible to issue the license for the purpose of seeking and selling the insurance.
Overview of IRDA
Why IRDA License is Required?
IRDA Regulatory Authority
Eligibility Criteria for IRDA License
Different Types of IRDA License
Process of IRDA License Registration
Documents Required for IRDA License
IRDA License Renewal
Suspension of Certificate of Insurance Company License
Overview of Private Limited Company Registration
A Private Limited Company is a privately maintained small business existence, which is one of the highly recommended means to start a business in India. The Companies Act 2013 governs private limited company registration in India.
While, minimum 2 shareholders are required to start a private company, while the higher limit of members are 200 as per the Companies Act, 2013. If a private limited company faces financial risk, its shareholders are not subject to sell their personal assets, i.e. they ought to have limited liability.
- A registered private limited company increases the credibility of your business. A registered private limited company increases the credibility of your business. A registered private limited company increases the credibility of your business.
- Help owners from personal liability and protects from other risks and losses.
- Draws more customers
- Ease in obtaining bank credits
- Offers limited liability to preserve your company’s assets
- Greater funds supplement and more attractive stability
- Enhance the potential to grow big and expand
Starting a private limited company offers many advantages. Some of them are as follows:
- Limited Liability
- The responsibility of the members of a private limited company is restricted to their share only as the private limited company is a separate legal entity.
- Separate Legal entity
- A private limited company is a separate legal entity which posses all the rights to sue or to be sued. It acts an artificial person which can buy a property on its own name.
• Insurance brokers are allowed to sell products of more than one insurance company
• Company websites
• Buying online or through the phone • Banks, retail houses, or any other commercial ventures which are the channel partner of these insurance companies.