Question
According to the Insurance Act, who can receive
remuneration or reward for soliciting or procuring insurance business in India?Solution
As per the Insurance (Amendment) Act 2015, remuneration or reward for soliciting or procuring insurance business in India can be paid to insurance agents, intermediaries, or insurance intermediaries in the manner specified by regulations. This law regulates the payment of commissions or rewards in the insurance industry.
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Study the given graph and answer the question that follows.
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