Question
The Insurance Regulatory and Development Authority of
India (IRDAI) has increased the limit on losses for the appointment of Surveyors and Loss Assessors. Which of the following statements is/are true with respect to the above changes- I.The limits have been increased for Motor Insurance to Rs 1.5 lakh from the existing Rs 50,000. II.For other than motor insurance, it has been increased from the current Rs 1 lakh to Rs 5 lakh. III.A surveyor and loss assessor is an insurance intermediary licensed by IRDAI to investigate, manage, quantify, validate and deal with losses (whether insured or not) arising from any contingency, on behalf of the company or the policyholder.Solution
The Insurance Regulatory and Development Authority of India (IRDAI) has increased the limit on losses for the appointment of Surveyors and Loss Assessors. The limits have been increased for Motor Insurance to Rs 1 lakh from the existing Rs 50,000. For other than motor insurance, it has been increased from the current Rs 1 lakh to Rs 5 lakh. A surveyor and loss assessor is an insurance intermediary licensed by IRDAI to investigate, manage, quantify, validate and deal with losses (whether insured or not) arising from any contingency, on behalf of the company or the policyholder. The regulator’s circular added that the special dispensation granted is applicable to the claims arising out of Cyclone Michaung and the resulting heavy rains/floods. This will be applicable for a period of 2 months from the date of issuance of the circular.
The income of P is 3/4 th of the income of Q and income of R is 70% more than the income of Q. Income of Q is Rs.24000 and expenditure of P ...
Income of Priya is Rs. 25,000. She spends 14% on rent, 16% on clothing, 'a%' on food, 32% on others and saves the rest. If her savings is Rs. 5,000, fin...
Find X's monthly income if the combined income of X and Y amounts to Rs. 36,000, and both X and Y spend 75% and 80% of their incomes, respectively, with...
- Anil distributed some money among Rina, Meena and Tanu. The amounts received by Rina and Meena are in the ratio 5:3 respectively, and the amount received b...
The average income of three employees, namely Amit, Bisht, and Cherry, is Rs. 24000. Bisht's income is 10% higher than Amit's, and Cherry's income is 50...
Monthly incomes of Rohan and Mohan are Rs. 28,000 and Rs. _______, respectively. Rohan and Mohan save 20% and 35% of their respective incomes. The diffe...
- The salary of a person is increased by Rs. 500. If his old salary was 25% less than his new salary, then his old salary was:
The incomes of 'P' and 'Q' are in the ratio 7:12 respectively. Income of 'P' is increased by 30% and that of 'Q' is decreased by Rs. 2,000 such that the...
The income of ‘M’ is twice more than that of ‘N’. The expenditure of ‘M’ is Rs. 2000, which is twice that of ‘N’. If the savings of ‘M...
Sana uses x% of her earnings on house rent, then spends 20% of the remaining on groceries, pays Rs. 9400 as miscellaneous bills, and saves Rs. 7240 from...
Relevant for Exams:
