Question
In July 2024, which organization amended its guidelines
on commissions for long-term motor insurance policies to align them with standard annual policies?Solution
The IRDAI revised its guidelines regarding the commission structure for long-term motor insurance policies, making it consistent with those for standard one-year policies. This adjustment allows insurers to manage commissions within the defined expense management framework, thereby harmonizing long-term and annual policy treatments.
What is the purpose of "mitigation of loss"?
The amount charged by the insurer to provide the life cover to policy holder on the life of the life Insured is known as?
___________ is a type of life insurance policy designed to pay a lump sum on maturity or on death.
The Motor Vehicles Act, 1988 requires what document as proof of insurance?
____________ is the ratio of the number of life insurance policy that lapsed within a given period to the number of policy in Force at the beginning of...
What percent shares of New India Assurance Co Ltd is owned by Government of India?
What is the minimum group size in Micro Insurance Schemes?
The Employment State Insurance (ESI) Act of 1948 is applicable to all establishments having __________or more workers.
Which amongst the following is not an insurance company functioning in India?
What is the purpose of "reinsurance treaties"?
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