Question
At 31 Mar, management projects a worst-case stress
showing net technical provisions plus URR exceed current solvency margin by 10%. Regulator requires prompt remedial plans. Which immediate action is most appropriate while preparing a remediation plan?Solution
Regulatory regimes require timely notification and remedial plans if solvency tests fail or coverage weakens. Immediate halting of business may be disproportionate; instead a formal action plan (capital, reinsurance, underwriting changes) and engagement with regulator is appropriate.
Which of the following form is designed to be used by many different insurers and has exactly the same provisions ?
The principle ensuring an insured is not compensated more than the actual loss is:
Legal responsibility of a fiduciary to safeguard assets of beneficiaries is termed as?
An Insurance company has been in business for how many years to launch IPO ?
The first unit-linked insurance plan (ULIP) was launched by which of these countries?
The 'Insured's Declaration' form is typically filled by:
General Insurance Corporation of India (GIC) was established in:
Which Insurance Company started its operation in the year in which India got Independence?
___________ is the liability arising from contractual agreements in which it is stated that some losses, if they occur, are to be borne by specific part...
What is the purpose of "excess" in an insurance policy?
