Solicitation

Solicitation covers the approach, explanation and procurement of insurance business. It is the regulated activity that an agent’s or broker’s licence permits.

The phrase “insurance is the subject matter of solicitation” appears on every regulated communication, and means that what is being offered is the insurance contract itself.

Related terms

• Insurance agent An individual appointed by an insurer to solicit and service its insurance business.
• IRDAI The Insurance Regulatory and Development Authority of India, the sector's regulator.
• Advertisement Any communication that promotes an insurer or its products, and which requires the insurer's prior approval.

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