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.
Walk or behave in a proud or boastful way
Fraudulent - The insurance agent who visited the office yesterday was a 'fraudulent' guy.
Perpetual
Select the INCORRECTLY spelt word.
Choose the correct synonym of the word - Verbose
Autocracy
Etymology
On Thursday, the Supreme Court uphold (A) the Madras High Court's conclusion (B) that the reservation afforded (C) to the community under the 202...
Select the word which means the same as the group of words given.
causing great damage or suffering
Too powerful to be defeated or overcome