1. Eligibility criteria: Authorized representatives of Institutional applicants should be of contractable age ( Above 18 years) and of sound mind. Applicants should not have any criminal record or hold positions of any political organizations or residents or citizens of any country listed as “High-Risk†countries by the Financial Action Task Force (FATF) or subject to UN sanctions or Indian government restrictions or involved in activities contrary to India’s national interests or security.
2. Association categories: The Foundation offers the following categories of Association
| Categories of Associates |
|---|
| Founder Associates |
| Fellow Associates |
| Honorary Associates |
3. Association fees: The following are the details of fee amount, payment mode, and frequency Please note at present the Foundation is not accepting any foreign contributions and all remittances should by in Indian Rupees only. Foreign applicants can however, seek Honorary Associates without payment of fees, if invited so by the Foundation. Foreign Associates can also contribute in terms of knowledge partnership, time and effort for any of the Programs of the Foundation.
| Initial Fee | Annual Fee | |
|---|---|---|
| Founder Associates | INR 1,00,000 | INR 25,000 |
| Fellow Associates | INR 10,000 | INR 10,000 |
| Honorary Associates | FREE | FREE |
*Taxes to be borne by the associates
4. Rights and responsibilities: Founder Associates participate in the Governing Council; the Governing Council can also invite Fellow and Honorary Associates as Board of Directors. They elect the Board of Directors who in turn elect or nominate the Chairperson, Secretary and Treasurer who constitute the Managing Committee to look after the affairs of the Foundation along with any other paid staff. The Chairperson can appoint or nominate some of the eligible associate to assist the Managing Committee. Fellow Associates or honorary associates shall not participate in the Governance Council but take part in other committees, projects or programs as per their interests and nomination by the Board of Directors. All other rights and responsibilities of the associates are as per the Memorandum and Articles of Association of the Foundation Form INC-13_1-13878984231.pdf 1, Form INC-31_1-13878984221.pdf 1.
5. Confidentiality and data protection: The Foundation takes all reasonable precautions to ensure that the personal information will be kept confidential and secure. All applicants upon becoming Associates of the Foundation shall also abide themselves to keep any personal information of other Associates, which they may find access to as part of any role assigned to them in the Board or its Committees, confidential and secure.
6. Termination: Association can be terminated FOR CAUSE in case of non-payment of Association fee or violation of any of the terms and conditions, applicable provisions of the law, misconduct, continuous absenteeism from assigned roles if any, in any of the Committees, Programs or losing the eligibility criteria. Association can also be terminated WITHOUT CAUSE if the member voluntarily requests for termination by giving 30 days’ notice and after clearing any pending dues. The Managing Committee should seek Board approval for any termination with or without cause.
7. Dispute resolution: Any disputes or grievances of the Associates should be first notified to Grievance Committee and if not sorted out should be settled by a single Arbitrator to be appointed by the Grievance committee. All disputes are subject to the Governing laws as applicable in India under the jurisdiction of High Court of the State of Telangana, India.
8. Amendments: The Foundation reserves right to modify these terms and conditions anytime without assigning any reason by seeking the approval of the Governance Council and all Associates are required to abide by the amended terms and conditions post such amendment.
9. Cancellation and refund policy: Association fee or donations once paid shall not be refunded.
12. Communication: All communications to the Associates shall be by way of Notifications in our website and or by email or text messages in phone as per contact details submitted in the application form and updated from time to time at Associates’ request.
13. Code of conduct: All associates are required to strictly adhere to the Code of Conduct as mentioned below, violation of which could result in termination of association for cause:
A. Respect and inclusivity: Treat others with respect, dignity, and inclusivity, regardless
of
background, culture, or beliefs.
B. Integrity and honesty: Act with integrity, transparency, and honesty in all
dealings.
C. Confidentiality: Maintain confidentiality of sensitive information and protect
privacy.
D. Accountability: Take responsibility for actions and decisions.
E. Non-discrimination: Avoid discrimination based on race, gender, religion, or other
personal
characteristics.
F. Conflict of interest: Declare conflicts of interest and avoid exploiting Foundation
resources for
personal gain.
G. Respect for laws and policies: Comply with applicable laws, regulations, and Foundation
policies.
H. Professionalism: Maintain professional standards and behaviour.
I. Teamwork and collaboration: Work collaboratively and supportively with other
associates.
J. Reporting misconduct: Report any misconduct or unethical behaviour to the appropriate
authorities.
K. Social media responsibility: Use social media responsibly and avoid misrepresenting the
Foundation.
L. Fundraising and resource management: Handle funds and resources responsibly and
transparently.
M. Volunteerism: Respect the value of volunteerism and contribute time and skills
accordingly.
N. Cultural sensitivity: Be sensitive to diverse cultures and traditions.
O. Continuous learning: Commit to learning and self-improvement.
14. Liability: The liability of the Foundation in case of any disputes or damages shall not accede at any time, the association fee paid by the association for one year as per contact details submitted in the application form and updated from time to time at associates’ request.
15. Acknowledgement and Declaration: By clicking on ACCEPT button, all applicants acknowledge that they have read, understood and accepted the terms and conditions.
DISCLAIMER: The Microinsurance Innovation Hub is a Section 8 company and has Associates who intend to foster financial inclusion of underserved and unserved communities through providing Insurance. The innovation hub will act as an open platform to the stakeholders of microinsurance. This Hub will exclusively work in the Microinsurance / Inclusive Insurance space in India and other regions. The information provided here is gathered from various sources and Microinsurance Innovation Hub doesn’t validate any data. The information here are intended solely for internal discussion purposes