Skip to content

CS Professional · IFSCA - Regulations, Listing and Compliances · Insurance and Reinsurance

Kavya Advisors plans to place insurance business in GIFT IFSC for clients by comparing quotes from several registered insurers, earning brokerage, and acting for the client rather than any insurer. Which category of registration with IFSCA fits this activity?

Kavya needs registration as an insurance broker. A broker acts on behalf of the client, compares options across several insurers and earns brokerage. An agent is tied to an insurer, a surveyor assesses losses, and an insurer bears risk, none of which matches the described activity.

  1. AInsurance brokerCorrect
  2. BInsurance agent tied to one insurer
  3. CSurveyor and loss assessor
  4. DInsurer registered as an IFSC Insurance Office

Explanation

A broker represents the client and places business with multiple insurers for brokerage. A tied agent works for a single insurer's principal, a surveyor assesses loss, and an IIO bears risk, which Kavya does not intend to do.

Did you get it right without looking?

One question tells you little. A timed set on Insurance and Reinsurance shows your real accuracy, how long you take and where you lose marks.

Practise Insurance and ReinsuranceFree diagnostic mock

More Insurance and Reinsurance questions