CURRENT AFFAIRS

2019

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

IRDAI set up a Committee of 13 members to review regulatory framework on micro-insurance. Who is the head of the committee?

A	Suresh Mathur
B	Girish Joshi
C	Amit Rathi
D	Rajinder Singh

Explanation:

Detailed explanation-1: -Composition: The 13-member panel comprising officials of the IRDAI, insurers and NGOs is chaired by IRDAI Executive Director Suresh Mathur. Mandate: To review the regulatory framework on microinsurance and recommend measures to increase the demand for such products.

Detailed explanation-2: -Following the recommendations of the Malhotra Committee, in 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April 2000.

Detailed explanation-3: -Section 25 of IRDAI Act, 1999 lays down for establishment of Insurance Advisory Committee consisting of not more than twenty five members excluding the ex-officio members. The Chairperson and the members of the Authority shall be the ex-officio members of the Insurance Advisory Committee.

There is 1 question to complete.