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The Insurance Regulatory and Development Authority of India (IRDAI) has removed the retail sector of the general insurance industry from the arbitration clause, as policyholders have alternative avenues to resolve their complaints. The clause will now only apply to commercial lines of business. The clause would continue to be applicable to all existing retail policies until the term of the policy expires, unless the policyholder requests its replacement with the commercial lines clause.For all new retail policies, the clause will be considered deleted, while it will apply to all commercial policies from the date of renewal falling on or after the date of the circular, which takes effect immediately.
The Public Distribution System (PDS) is an Indian food security system which evolved as a system for distribution of food grains at affordable prices an...
RBI has permitted banks from how many countries to open Special Vostro Rupee Accounts (SVRAs)?
___________ is mutual funds writing off the principal amount and the interest in case of a default?
Who took on the role of Secretary General of BIMSTEC for the next three years, beginning in January 2024?
Who was sworn in as the Chief Minister of Sikkim for the second consecutive term?
What is India’s rank in Henley Passport Index 2021 which was released by Henley & Partners?
By what percentage is the global arid area expected to increase by 2040?
Consider the following statements:
(1) Freedom as to payment of taxes for the promotion of any particular religion is given in Article 30 of the ...
What languages are proposed to be declared official languages of Ladakh?
Which of the following is NOT a component indicator of the Global Hunger Index (GHI)?