New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following Entities are regulated by

    IRDAI?
    A Life Insurance Companies Correct Answer Incorrect Answer
    B General Insurance Companies Correct Answer Incorrect Answer
    C Re-Insurance Companies Correct Answer Incorrect Answer
    D Agency Channel Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India. Entities regulated by IRDAI: a. Life Insurance Companies - Both public and private sector Companies b. General Insurance Companies - Both public and private sector Companies. Among them, there are some standalone Health Insurance Companies which offer health Insurance policies. c. Re-Insurance Companies d. Agency Channel e. Intermediaries which include the following: •Corporate Agents •Brokers •Third Party Administrators •Surveyors and Loss Assessors.

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