Question

What role does public disclosure play in the decision-making process for insured individuals and prospects?

a.

It has no impact on decision-making

b.

It helps in making conscious and informed decisions

c.

It creates confusion in decision-making

d.

It limits the choices available

Answer: (b).It helps in making conscious and informed decisions Explanation:Adequate public disclosure enables the insured and prospects to make conscious and informed decisions about selecting insurers and insurance products.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What role does public disclosure play in the decision-making process for insured individuals and prospects?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Why are funds from the insurance sector considered suitable for long-term investments in a country?

Q. What are the objectives of disclosure in the insurance sector?

Q. How does public disclosure benefit co-insurers, re-insurers, financiers, and investors?

Q. Why is ensuring proper and efficient management of huge insurance funds important?

Q. What role does disclosure play in achieving corporate governance in the insurance industry?

Q. How does disclosure contribute to maintaining a competitive edge for firms in the insurance industry?

Q. What does the International Association of Insurance Supervisors (IAIS) emphasize regarding disclosures by regulated entities?

Q. According to ICP 26 of IAIS, what is the purpose of requiring insurers to disclose relevant information?

Q. What is the role of disclosure requirements in achieving transparency in the insurance industry?

Q. Why is providing basic business, management, and corporate governance information important in disclosures?

Q. What is the purpose of disclosing financial performance for a specified period?

Q. How does disclosure contribute to comparability between insurers globally?

Q. What is the purpose of the guidelines on periodic disclosures issued by IRDA?

Q. According to the guidelines, how often are insurers required to display information based on audited statements for the last 5 years?

Q. When does the financial year ending on 31st March 2010 mark the end of the block of five years for the disclosure of past data?

Q. Which forms are for non-life insurance companies in the guidelines?

Q. What clarification does the circular provide regarding the revision of audited financial statements?

Q. What clarification is provided regarding the breakup of the motor segment in the guidelines?

Q. What is the requirement for reporting premium and claims in the guidelines?

Q. How does the guideline recommend clubbing certain items for newspaper publication?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? 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!