Under the Expense of Management Rules 2023 introduced by Insurance Regulatory and Development Authority of India, general insurance companies can work with EOM up to ____ of gross premium written.
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced new regulations on commission payments to intermediaries and expenses of management for general and health insurance companies. While the Payment of Commission Regulations, 2023, removes previous caps on payments, the Expenses of Management (EOM) Regulations, 2023, allows for additional expenses related to foreign and IFSC branches, Insurtech, and insurance awareness. The new regulations issued by the Insurance Regulatory and Development Authority of India (IRDAI) will be effective from April 1. Under the EOM Regulations, 2023, general insurance companies can work with EOM up to 30% of gross premium written, while insurers carrying on standalone health insurance business are allowed to go up to 35% of gross premium written. The objective of these regulations is to provide the insurers the flexibility to manage their expenses based on their growth aspirations and the ever-changing insurance needs with an objective to improve insurance penetration.
Which of the following statements is/are correct in regards to Mission Karmayogi?
1.It is related to civil services training
2.It is an In...
Consider the following statements:
1. The Parliament can increase the number of Judges of the Supreme Court and High courts.
2. The s...
Consider the following statements:
(1) Third Schedule of the Indian Constitution talks about forms of oaths or affirmations.
(2) Provision...
Consider the following statements regarding the Nuclear Power Programme of India :
1. Pressurized heavy water reactors have been set up at Kai...
Which one of the following statements is correct about Income and Expenditure Account?
Preliminary expenses are the examples of
Which of the following was/were the reason/reasons for the lack of economic development in India in the 19th century?
1. Officially the British...
Which state hosted the third edition of 'Khelo India' Games?
Which of the following is Incorrect regarding “PM Shram Yogi Man Dhan Yojana”?
Consider the following statements:
1. Prime Meridian passes through Greenwich and is at 0° Longitude.
2. International Date Line, on...