Question

What is the primary function of a Direct Insurance Broker according to IRDA regulations?

a.

Arranging reinsurance for direct insurers

b.

Acting on behalf of clients in life insurance only

c.

Carrying out specified functions in life or general insurance for remuneration

d.

Conducting insurance and reinsurance for clients simultaneously

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Carrying out specified functions in life or general insurance for remuneration Explanation:A Direct Insurance Broker, licensed by the Authority, carries out specified functions either in the field of life insurance or general insurance or both on behalf of the clients for remuneration.

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Q. What is the primary function of a Direct Insurance Broker according to IRDA regulations?
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