Which regulation deals with claim procedure?

A. IRDA (Licencing of Agents) Regulations, 2000

B. IRDA (Protection of Policyholders' Interests) Regulations, 2002

C. Insurance Act, 1938

D. Government of India directives

Answer: Option B

Solution(By Examveda Team)

IRDA (Protection of Policyholders' Interests) Regulations, 2002 regulation deals with claim procedure. These regulations shall come into force from the date of their publication in the official Gazette of the Government of India and supersede Insurance Regulatory and Development Authority (Protection of Policyholders' Interests) Regulations, 2002 and any clarification circulars/guidelines issued in this regard.