GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Banking
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Railways
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Insurance Sector
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Tele Communication
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Detailed explanation-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.
Detailed explanation-2: -The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous regulatory body that protects the interests of the policyholder. They oversee the growth of the insurance sector in India, the requirements that different types of insurance policies project, and help maintain a speedy development.
Detailed explanation-3: -IRDA is the supervisory body in India that regulates and commands all the insurance companies in the country, both Life Insurances and General Insurance companies.
Detailed explanation-4: -General insurance companies As of September 2022, IRDAI has recognized 31 non-life insurance companies.