Question

How is the remuneration of an insurance broker regulated under Regulation 19?

a.

No specific regulations regarding remuneration for insurance brokers

b.

Remuneration is determined by mutual agreement between the insurance broker and the client

c.

An insurance broker cannot be paid an amount exceeding the prescribed limit under Regulation 19

d.

Remuneration for insurance brokers is fixed by the Regulatory Authority

Posted under IC 14 Regulations of Insurance Business

Answer: (c).An insurance broker cannot be paid an amount exceeding the prescribed limit under Regulation 19 Explanation:No insurance broker shall be paid an amount exceeding the prescribed limit under Regulation 19.

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Q. How is the remuneration of an insurance broker regulated under Regulation 19?
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