Question

In case a group of persons specified in (1) and (2) fails to elect any members of the Executive Committees of the Life Insurance Council or the General Insurance Council, who has the authority to nominate a person to fill the vacancy?

a.

Insurance Association of India

b.

General Insurance Corporation

c.

Insurance Regulatory and Development Authority

d.

Central Government

Answer: (c).Insurance Regulatory and Development Authority Explanation:According to Section 64F(v) of the Insurance Act, 1938, if any group of persons fails to elect members of the Executive Committees, IRDA (Insurance Regulatory and Development Authority) may nominate any person to fill the vacancy.

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Q. In case a group of persons specified in (1) and (2) fails to elect any members of the Executive Committees of the Life Insurance Council or the General Insurance Council, who has...

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