Question
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.Solution
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.
Select the most appropriate meaning of the given idiom.
In the same breath
Select the most appropriate meaning of the underlined idiom in the given sentence.
This problem is a hard nut to crack,it will take longer than t...
Fill in the blank given below using the correct idiom.
The team's lack of preparation for the important presentation proved to be __________...
Select the most appropriate meaning of the Bold idiom in the given sentence
Our PM is received with open arms wherever he goes.
In the given question, four alternatives are given for the Idiom/ Phrase given in bold in the sentence. Choose the alternative which best expresses the ...
An idiom is used in three sentences. You need to choose the right option that covers the correct usage amongst these three sentences.
At ...
Select the most appropriate meaning of the following idiom.
To be all at sea
Don’t give her the cold __________.
Fill in the blank with an appropriate idiom.
The teacher was so impressed with the student's presentation that she gave him a __________.
It is the result of feeling blue for so long that has now started affecting his physical health also.