📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ BIG BEE DAYS Are Live - Spin the Wheel to Get BIGGEST DISCOUNT of the Year -âš¡

    Question

    What is the purpose of "File and Use" regulations?

    A To regulate the introduction of new insurance products. Correct Answer Incorrect Answer
    B To control the amount of reinsurance purchased by insurers Correct Answer Incorrect Answer
    C To limit the number of insurance companies operating in the market Correct Answer Incorrect Answer
    D To standardize insurance premiums Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    "File and Use" regulations allow insurers to introduce new insurance products after filing them with the regulatory authority (like IRDA in India). This enables insurers to innovate and offer new products to the market while ensuring that they comply with regulatory requirements.

    Practice Next
    More Insurance Awareness Questions
    ask-question