Irda Chairman J Hari Narayan said the licences of corporate agents would not be renewed with retrospective effect. Out of 7,000 agents, Irda withdrew licences of 4,261 agents, as they failed to renew them by March 31 this year. “The insurance customers should not do business with the 4,261 corporate agents. They have not applied for renewal of licences, so there licences currently stands cancelled,” Irda chief told PTI.
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