Question

Who has the authority for issuing licenses to Insurance Brokers according to regulations?

a.

Designated person in the insurance company

b.

Principal Officer of the Broking Company

c.

Corporate Insurance Executive

d.

Regulatory body independent of the Authority

Posted under IC 14 Regulations of Insurance Business

Answer: (b).Principal Officer of the Broking Company Explanation:The Principal Officer, possessing the minimum qualification and Insurance Broker Examination, is the chief executive officer of the Broking Company and is authorized to exclusively carry out the functions of an insurance broker.

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Q. Who has the authority for issuing licenses to Insurance Brokers according to regulations?
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