Question

What is one requirement stated by IRDA regulations regarding the underwriting policy for inward reinsurance business?

a.

Filing changes to the underwriting policy

b.

Well-defined geographical scope

c.

Underwriting by persons with necessary knowledge and experience

d.

Mandatory retrocession to GIC Re and the Pools

Answer: (c).Underwriting by persons with necessary knowledge and experience Explanation:According to IRDA regulations, insurers need to ensure that decisions on acceptance of reinsurance business are made by persons with necessary knowledge and experience. This requirement emphasizes the importance of expertise in underwriting inward reinsurance business.

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Q. What is one requirement stated by IRDA regulations regarding the underwriting policy for inward reinsurance business?

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