Insurance & Takaful Brokers
Insurance and takaful brokers are approved persons, respectively under s.11 of the Financial Services Act 2013 (FSA) and s.11 of the Islamic Financial Services Act 2013 (IFSA), to carry on an insurance or takaful broking business. Such business involves soliciting, negotiating or procuring a policy with an insurer, or the renewal or continuance of the policy by a person, for a policy owner other than for himself and includes reinsurance broking for an insurer.
Insurance and takaful brokers are part of the financial intermediaries regulated by BNM under the FSA, IFSA, and related regulations. Insurance and takaful brokers need to be approved by BNM. The approval granted is generally valid between one to three years, after which the approved person must submit an application to renew its approval, two months prior to the expiry of the existing approval.
Use the following application forms to apply for a new approval or renewal of the insurance and takaful broking business:
- Application Form for New Insurance Broker and/or Takaful Broker Business
- Application Form for Renewal of Insurance Broker and/or Takaful Broker Business
If you have any questions on the application procedure, please refer to the following document:
See also:
- List of approved insurance brokers
- List of approved insurance and takaful brokers
- List of approved takaful brokers
- List of approved international maritime, aviation, and transit (MAT) insurance brokers
