Question

Who is vested with the authority of regulating and controlling the conduct of insurance business in India?

a.

General Insurance Corporation of India ( GIC )

b.

Insurance Regulatory & Development Authority ( IRDA )

c.

National Insurance Co. Ltd .

d.

The New India Assurance Co. Ltd .

Answer: (b).Insurance Regulatory & Development Authority ( IRDA ) Explanation:The Insurance Regulatory & Development Authority (IRDA) is vested with the authority of regulating and controlling the conduct of insurance business in India.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Who is vested with the authority of regulating and controlling the conduct of insurance business in India?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is one of the key goals of regulations for reinsurance after liberalisation?

Q. Who can define their inward reinsurance underwriting philosophy after liberalisation?

Q. What was the main objective of the market Reinsurance Programme after nationalisation?

Q. What was the capacity of SWIFT on a Probable Maximum Loss (PML) basis?

Q. What is the role of IRDA in regulating reinsurance in India?

Q. What is the maximum percentage of all premium ceded overseas that can be received by one reinsurer rated as per regulations?

Q. What was the rating of SWIFT security by Standard and Poor?

Q. Who is responsible for regulating and controlling the conduct of insurance business in India?

Q. What is the role of GIC Re in the Indian market?

Q. What is the rating of GIC Re by A.M.Best?

Q. What is the responsibility of GIC Re in managing Pools for the Indian market?

Q. What is the target of GIC Re in terms of balancing domestic and overseas business?

Q. What is GIC Re?

Q. What regulations govern GIC Re?

Q. What is the outcome of liberalization and demerger on GIC Re?

Q. What is GIC Re's rating by A.M.Best?

Q. What is the Indian market pursuing to establish under the direction of the Government of India?

Q. Who is the designated manager for the Natural Catastrophe Pool and Nuclear Risks Liability Pool?

Q. What is GIC Re's responsibility for the natural catastrophe pool and nuclear risks liability pool?

Q. What is the obligatory cession that GIC Re receives from all general insurers?

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!