Question

What is one of the duties of IRDA concerning the rates, advantages, terms, and conditions offered by insurers in respect of general insurance business?

a.

Fixing maximum profits for insurers

b.

Regulating the tariffs through the Tariff Advisory Committee

c.

Determining the minimum premiums for insurance policies

d.

Advising insurers on marketing strategies

Answer: (b).Regulating the tariffs through the Tariff Advisory Committee Explanation:One of the duties of IRDA is the control and regulation of the rates, advantages, terms, and conditions in general insurance business through the Tariff Advisory Committee.

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Q. What is one of the duties of IRDA concerning the rates, advantages, terms, and conditions offered by insurers in respect of general insurance business?

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