Can I use a ChuktiQ template to actually insure my car or life?

No. Under the Insurance Act, 2010 only an insurer licensed by IDRA can issue an insurance policy in Bangladesh — a template on ChuktiQ (or anywhere else) cannot create a valid policy. To insure a car, a life, property or health, buy a policy from a licensed insurer directly. What ChuktiQ can help with in this category is the supporting business paperwork around insurance: agent / broker appointment, claim-settlement receipts, service agreements, and similar.

What is the difference between an insurance policy and an insurance service agreement?

An insurance policy is the regulated contract between an insurer and the insured party that actually transfers risk in exchange for a premium — only an IDRA-licensed insurer can issue one. An insurance service agreement, on the other hand, is a supporting business contract — for example, between a corporate client and an insurer to administer a group health policy, or between an insurer and an independent surveyor. These service agreements are ordinary commercial contracts governed by the Contract Act, 1872 and can be drafted through ChuktiQ.

Insurance

Insurance in Bangladesh is a strictly regulated activity: only entities licensed by the Insurance Development and Regulatory Authority (IDRA) may issue insurance policies. The agreements in this category on ChuktiQ are therefore NOT policy-issuance documents — they are the supporting business contracts that surround insurance activity: an agent / broker appointment agreement between a licensed insurer and a distributor, a claim-settlement receipt, a corporate group-policy service agreement between an insurer and a corporate client, an insurance surveyor engagement, and similar. If you are looking to actually insure a life, property or vehicle, that requires a policy from an IDRA-licensed insurer — this category does not substitute for that.

Stamp & registrationThe Insurance Act, 2010 (and the rules made under it) governs both who may issue insurance policies and how policies must be formatted, priced and disclosed. Nothing in this category creates or replaces an insurance policy. Support contracts — agent appointments, claim-settlement receipts, service contracts — follow the general Contract Act, 1872 and typically run on Tk. 300 non-judicial stamp, but where they interact with a regulated insurance product, they must be consistent with the IDRA-approved terms of that product.

Contract types in this category

Frequently asked questions

Can I use a ChuktiQ template to actually insure my car or life?: No. Under the Insurance Act, 2010 only an insurer licensed by IDRA can issue an insurance policy in Bangladesh — a template on ChuktiQ (or anywhere else) cannot create a valid policy. To insure a car, a life, property or health, buy a policy from a licensed insurer directly. What ChuktiQ can help with in this category is the supporting business paperwork around insurance: agent / broker appointment, claim-settlement receipts, service agreements, and similar.
What is the difference between an insurance policy and an insurance service agreement?: An insurance policy is the regulated contract between an insurer and the insured party that actually transfers risk in exchange for a premium — only an IDRA-licensed insurer can issue one. An insurance service agreement, on the other hand, is a supporting business contract — for example, between a corporate client and an insurer to administer a group health policy, or between an insurer and an independent surveyor. These service agreements are ordinary commercial contracts governed by the Contract Act, 1872 and can be drafted through ChuktiQ.

Insurance

Frequently asked questions

Can I use a ChuktiQ template to actually insure my car or life?: No. Under the Insurance Act, 2010 only an insurer licensed by IDRA can issue an insurance policy in Bangladesh — a template on ChuktiQ (or anywhere else) cannot create a valid policy. To insure a car, a life, property or health, buy a policy from a licensed insurer directly. What ChuktiQ can help with in this category is the supporting business paperwork around insurance: agent / broker appointment, claim-settlement receipts, service agreements, and similar.
What is the difference between an insurance policy and an insurance service agreement?: An insurance policy is the regulated contract between an insurer and the insured party that actually transfers risk in exchange for a premium — only an IDRA-licensed insurer can issue one. An insurance service agreement, on the other hand, is a supporting business contract — for example, between a corporate client and an insurer to administer a group health policy, or between an insurer and an independent surveyor. These service agreements are ordinary commercial contracts governed by the Contract Act, 1872 and can be drafted through ChuktiQ.