Q543
What is the main objective of IRDA Regulations 2000?
A.
Protection of Insurance Company
B.
Protection of policyholder and development of orderly growth of insurance business
AnswerC.
Protection of insurance intermediaries
D.
To earn for the Government
Answer: Option B
Solution
Answer: Option B
Solution:
The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market.