Renewal of Broker Indemnity Insurance Policy

BSE Limited, vide Notice No. 20260507-11 dated 07 May 2026, has announced an important update regarding renewal of Broker Indemnity Insurance Policy by active Trading Members.

Key Details of the Update –
• All active Trading Members are required to renew their Indemnity Insurance Policy with a minimum sum insured of Rs. 5 lakhs.

• Applicability: The notice applies to all active Trading Members of BSE.

• Trading Members must submit the renewed policy document and policy details on the BEFS portal within the prescribed timeline.

• Members registered with both BSE and NSE are required to submit the policy document to NSE only.

• Exclusive BSE Members must continue submitting the policy document to BSE as per the existing process.

• System generated alert emails are being sent to Trading Members for submission of policy document and details through BEFS.

• Updated or renewed indemnity insurance policy details can be uploaded on BEFS only after expiry of the existing or current policy.

• The attached user manual provides the BEFS upload process, including login to BEFS, selection of “Member Insurance Policy”, creation of application through “Policy Form”, uploading documents, saving and final submission.

• The Certificate of Insurance is mandatory for upload, while the insurance premium receipt and other supporting documents are non mandatory.

• Where policy is taken through BSE Broker’s Forum, members must verify the policy details uploaded in BEFS and report discrepancies to BSE Broker’s Forum under intimation to the Exchange.

• Where policy is taken by the Member or through any other forum, the Member must enter the policy details and upload documents directly on BEFS.

• Penalty/Consequence: Failure to furnish renewed policy document and details within the stipulated timeframe will be treated as non compliance, and disciplinary action will be initiated by the Exchange.

• Effective Date: Not specifically mentioned.

Actions if Any –
• Active Trading Members must renew the Indemnity Insurance Policy with minimum sum insured of Rs. 5 lakhs.

• Trading Members must submit the renewed policy document and details on BEFS within the prescribed timeline.

• Members registered with NSE must submit the policy document to NSE only.

• Exclusive BSE Members must submit the policy document to BSE through the existing BEFS process.

• Trading Members must upload the renewed or new policy details on BEFS only after expiry of the current policy.

• Trading Members must ignore alert emails where the required details have already been submitted through BEFS.

• Trading Members must correct and resubmit the application if rejected by the Exchange due to reasons such as illegible scanned policy copy or incorrect policy details.

Compliance Deadline –
Within 30 calendar days from the date of expiry of the valid indemnity insurance policy.