Question

What does every insurer need to cede according to the IRDA (General Insurance – Reinsurance Regulations) 2000?

a.

A fixed percentage of the premium income.

b.

A fixed percentage of the total assets.

c.

A percentage of the sum assured on each policy for different classes of insurance.

d.

A percentage of the total business volume.

Answer: (c).A percentage of the sum assured on each policy for different classes of insurance. Explanation:Every insurer should cede a percentage of the sum assured on each policy for different classes of insurance, as specified by the Authority.

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Q. What does every insurer need to cede according to the IRDA (General Insurance – Reinsurance Regulations) 2000?

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