Q. Which act was enacted by the Government of India to regulate the insurance business?

View solution

Q. What was the purpose of enacting the Insurance Regulatory and Development (IRDA) Act, 1999?

View solution

Q. What is the common purpose served by insurance regulations in all countries?

View solution

Q. Which of the following scenarios demonstrates the role of insurance in providing financial security?

View solution

Q. What is the scope of insurance regulation?

View solution

Q. What distinguishes insurance regulation from regulation in other branches of finance or economics?

View solution

Q. What role does the regulator play in protecting policyholders?

View solution

Q. What is one reason insurance regulators prescribe a high capital base for issuing licenses?

View solution

Q. What is the minimum capital requirement for starting a life insurance business in India?

View solution

Q. Why do regulators create accounting norms, investment norms, audit systems, etc. for insurers?

View solution

Q. What does solvency measure for insurance companies?

View solution

Q. Why is it difficult for customers to evaluate an insurance policy at the time of purchasing insurance?

View solution

Q. What is the consequence of over-pricing insurance products?

View solution

Q. How do regulators ensure a level playing ground for all insurers?

View solution

Q. Which organizations have contributed to insurance reform worldwide?

View solution

Q. What is the role of the International Association of Insurance Supervisors (IAIS)?

View solution

Q. Which organization is the apex body of fifty State-level regulators of the USA?

View solution

Q. What is the primary focus of "The Geneva Association"?

View solution

Q. What is the role of the International Association of Insurance Supervisors (IAIS)?

View solution

Q. When was the IAIS established?

View solution