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Compensation Disclosure

  • BimaGenie™ Insurance Broker is primarily compensated from the usual and customary brokerages or fees received from the brokerage and servicing of insurance policies, annuity contracts etc from insurers, such brokerages and fees are regulated & fixed by IRDA Insurance Broker Regulation 2002. As a result, BimaGenie™ Insurance Broker have no incentive to place risk with a particular insurance carrier. Such compensation received by BimaGenie™ Insurance Broker in relation to clients insurance placements, can be disclosed upon request.

  • BimaGenie™ Insurance Broker wouldn’t offer, either directly or indirectly, as an inducement to any client or its employee/ representatives, to take or renew or continue insurance coverage, any rebate/discounts/passouts of the whole or part of the commission or fees received from insurers as rebates are prohibited under Section 41. (1) of Insurance Act 1938.