Question

What is the primary objective of the Insurance Regulatory and Development Authority (IRDA)?

a.

To maximize profits for insurance companies.

b.

To promote, regulate, and ensure orderly growth of the insurance business.

c.

To minimize transparency in insurance sales.

d.

To limit the information provided to policyholders.

Posted under IC 14 Regulations of Insurance Business

Answer: (b).To promote, regulate, and ensure orderly growth of the insurance business. Explanation:The primary objective of IRDA is to promote, regulate, and ensure orderly growth of the insurance business while protecting the interests of policyholders.

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Q. What is the primary objective of the Insurance Regulatory and Development Authority (IRDA)?
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