Question

What directive did IRDA issue in December 2006 regarding motor third party insurance business?

a.

Individual participation for each General Insurer

b.

Collective participation in a pooling arrangement for all General Insurers

c.

Exclusion of General Insurers from motor third party insurance

d.

Mandatory participation for only select General Insurers

Answer: (b).Collective participation in a pooling arrangement for all General Insurers Explanation:In December 2006, IRDA issued directions for all General Insurers to collectively participate in a pooling arrangement for sharing motor third party insurance business.

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Q. What directive did IRDA issue in December 2006 regarding motor third party insurance business?

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