The Insurance Act was amended in.....to regulate investments and set minimum solvency margins and the Tariff Advisory Committee (TAC) was set up then to mandate policy wordings (insuring clause, terms, conditions, clauses, warranties, etc) and regulate general insurance premium rates.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Insurance Act was amended in____to regulate investments and set minimum solvency margins and the Tariff Advisory Committee (TAC) was set up then to mandate policy wordings (insuring clause, terms, conditions, clauses, warranties, etc) and regulate general insurance premium rates.

A	1956
B	1992
C	1982
D	1968

Explanation:

Detailed explanation-1: -The Insurance Act was amended in 1968 to regulate investments and set minimum solvency margins. The Tariff Advisory Committee (TAC) was set up then to mandate policy wordings (insuring clause, terms, conditions, clauses, warranties, etc) and regulate general insurance premium rates.

Detailed explanation-2: -1. 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.

There is 1 question to complete.