Question

What is the purpose of Insurance Regulatory Information System (IRIS) developed by the National Association of Insurance Commissioners (NAIC)?

a.

To monitor solvency margin of insurers and reinsurers

b.

To provide an integrated approach to analyzing credit ratings

c.

To assess the financial health of insurers and reinsurers

d.

To develop a rating system for insurance regulatory bodies

Answer: (c).To assess the financial health of insurers and reinsurers Explanation:The Insurance Regulatory Information System (IRIS) developed by the NAIC is used to monitor and analyze the financial health of insurers and reinsurers.

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Q. What is the purpose of Insurance Regulatory Information System (IRIS) developed by the National Association of Insurance Commissioners (NAIC)?

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