Question

What are the permissible types of entities recognized by the Authority to act as Insurance Brokers?

a.

Sole proprietorship only

b.

Partnership firms and companies only

c.

Cooperative Societies and any other entity approved by the Authority

d.

Individuals with specific qualifications

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Cooperative Societies and any other entity approved by the Authority Explanation:Insurance Brokers can be Cooperative Societies or any other entity recognized and approved by the Authority.

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Q. What are the permissible types of entities recognized by the Authority to act as Insurance Brokers?
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