The Insurance Regulatory and Development Authority (IRDA) cancelled the license of 4,261 corporate agents out of the total 7,000 in the country. They are not authorised to sell policies from March 31, this year. <br/><br/>The IRDA, which displayed the names of corporate agents that were banned, cautioned the insurance companies and general public not to transact any insurance business through them. <br/><br/>The IRDA released a list of banned agents of several corporate agencies whose licenses are due for renewal on or before 31st March, 2010 but have not been renewed till date. These entire agency licenses have been withdrawn.<br/><br/>According to a senior IRDA official, the policies purchased after March 31 and till date could be valid and the full implications are being worked out. The business is likely to hit as almost all life and general insurers including Life Insurance Corporation of India engaged these agencies.<br/><br/>The IRDA is in the process of verifying the quantum of business done through these agencies after 31st March.