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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

C. Protection of insurance intermediaries

D. To earn for the Government

Answer: Option B

Solution(By Examveda Team)

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.

This Question Belongs to Commerce >> Insurance

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