| According to the limits given by the authority, in fire and engineering insurances, an agent will earn a maximum of 10 per cent commission of the total premium of individual policy while a broker can earn a maximum of 12.5 per cent. |
| If an agent sells a corporate policy to corporates whose paid-up capital is up to Rs 15 crore, the agent earns 10 per cent commission while the broker can earn maximum 12.5 per cent. |
| If the corporate client's paid-up capital is between Rs 15 crore and Rs 25 crore, the agency commission is 6.25 per cent while the broker gets 7.25 per cent. If the corporate client has a paid-up capital over Rs 25 crore, the agent gets 5 per cent while the broker gets 6.25 per cent. |
| For large risk policies, the agent's commission is capped at 5 per cent while a brokerage is at 6.25 per cent. |
| The authority has defined large risk policies as corporate policies having a total sum insured of Rs 2,500 crore or more at one location for property insurance, material damage and business interruption combined, and Rs 100 crore or more per event for liability insurance. |
| On selling a motor policy other than third party insurance the agent's commission and the brokerage is 10 per cent. |
| In marine hull insurance it is 10 per cent for the agent and 12.5 per cent for the brokerage and in marine cargo business and all other businesses it is 15 and 17.5 per cent as the agency commission and brokerage, respectively. |
| The limits are a percentage of the final premium excluding service tax. |
| For the purpose of evidence of paid-up capital a copy of the latest balance sheet which is in public domain according to the requirements of the Companies Act, 1956, should be acceptable. |
| In case of a balance sheet that is two years prior to the relevant year of placing insurance, an auditor's certificate must be produced. |
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