Bissoy.com
Doctors Medicines MCQs Q&A

When was the Insurance Regulatory and Development Authority constituted?

When was the Insurance Regulatory and Development Authority constituted? Correct Answer 1999

In 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April 2000. The IRDAI's headquartered in Hyderabad, Telangana, where it moved from Delhi in 2001.

Related Questions

According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
With the objective of opening the insurance sector for private participation the Insurance Regulatory and Development Authority Act (IRDA) was passed in:
The Insurance Regulatory and Development Authority of India, under the standard health insurance plan Arogya Sanjeevani Policy, has made it mandatory for insurers to offer a sum insured between Rs 50,000 to how many rupees?
The Insurance Regulatory and Development Authority of India (IRDAI) has issued revised guidelines for trade credit insurance. The norms will come into effect from which month?
In August 2021, which of the following has been issued an insurance broking license from the Insurance Regulatory and Development Authority of India (IRDAI)?
In December 2021, the Insurance Regulatory Development Authority of India (IRDAI) declared three insurance companies to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22. which of the following company is not on the list?
In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested courses of action logically follow(s) for pursuing. Statement: India’s pharmaceutical sector is now popping out from a shell and making a remarkable recovery. Actually, it has been facing several regulatory challenges in the forms of a recast of foreign direct investment (FDI) policy, pricing policy in the US generics market, patent protection, regulatory approvals and compulsory licensing. Also limited new product launches in the generics space, GST introduction and higher costs associated with regulatory compliance have hurt the sector. Courses of action: I. The government has been engrossed more in policy making and taking resilient decisions for the concerns of the pharma industry. Recently, the government proposed to introduce a new price index for pharmaceutical products, which would serve as a benchmark for determining prices of all medicines sold in the country. II. Meanwhile, pharma companies’ constant investments in R&D have enabled them to develop a basket of robust products for markets across the world. In international markets, pricing pressure on generics sold in the US has eased and this is likely to support the sector. III. Domestic pharma sales grew to Rs. 10,583 crore in May 2018 from Rs. 9,549 crore in the same month last year. The recent clearance by the US Food and Drug Administration to Sun Pharma’s manufacturing plant at Halol in Gujarat brings to an end a two-year import ban it had imposed on the company over quality issues. This is likely to increase sales for the company.
Cell phone users have found that tariff plans are not as attractive as promoted by telecom companies and complained to regulatory authority about the same. Courses of action: I. The regulatory authority should direct telecom companies to be trasparent on the tariff structure of all plans II. The government should restrict the number of telecom companies operating in the country.
Following are the shortilisting criteria for a candidates to be called for Interview for the post of Deputy Manager in an Insurance company. The candidate must (i) be at least 30 years and not more than 35 years as on 1st January, 2020. (ii) be a graduate in any discipline. (iii) have done MBA with specialisation in insurance with at least 75% marks. (iv)have at least one year post qualification work experience in an insurance company. (v) have secured at least 60% of marks in the screening test conducted by the company. (vi) a native of Maharashtra. However, if the applicant fulfills the above mentioned criteria except a) at (iv) above, the case may be referred to the General Manager of the company. b) at (v) above, the case may be referred to the Chief Manager of the company. c) at (vi) above but has studied Marathi as one subject in class 10, his case will be referred to Divisional Manager of the company. Rekha Kesharwani is 32 years old as on 1st Jan 2020. She has done B.Sc. from a university in Uttar Pradesh. She has done her post graduation in Business administration with a specialisation of Insurance from a reputed institute at Pune in 2016. She has scored 75% marks in the screening test conducted by the company. She is working as a development officer in LIC of India. What decision about Rekha Kesharwani can be taken on the basis of the information given above?
In the given sentence, choose the part of the sentence that contains an error. If measures built into the legal and regulatory systems for insurance are followed diligently, the insurance for your insurance policy work optimally.