CMA Final · Risk Management in Banking and Insurance · Concept and Types of Health Insurance Policies
Under the Insurance Act, 1938 as given in the official text, which insurer-side body is deemed constituted to represent insurers carrying on general, health insurance business and re-insurance in India?
The General Insurance Council is the body deemed constituted under Section 64C for insurers carrying on general, health insurance and re-insurance business. The Life Insurance Council covers life insurers only, so health insurers are not represented there.
- AThe Life Insurance Council
- BThe General Insurance CouncilCorrect
- CThe Executive Committee of the Life Insurance Council
- DThe Authority's Claims Review Board
Explanation
Section 64C deems the existing General Insurance Council to be the representative body of insurers carrying on general, health insurance business and re-insurance. The Life Insurance Council represents only life insurers, so it is wrong.
Did you get it right without looking?
One question tells you little. A timed set on Concept and Types of Health Insurance Policies shows your real accuracy, how long you take and where you lose marks.
More Concept and Types of Health Insurance Policies questions
- Under the proviso to Section 32D of the Insurance Act, 1938 (as reproduced), the Authority may by regulations exempt an insurer from the min…
- A health insurer's record-keeping under Section 14 of the Insurance Act, 1938 (as reproduced) is being reviewed. Which statement is correct?
- As per Section 40C of the Insurance Act, 1938 (as reproduced), every insurer transacting insurance business in India must do which of the fo…
- A standalone health insurer asks whether it must underwrite the minimum percentage of third party motor vehicle insurance business that the …
- Under Section 40C of the Insurance Act, 1938 (as substituted in 2015), what must every insurer transacting general, health insurance and re-…
- Under the Insurance Act, 1938 as reproduced, which body is described as a representative body of insurers who carry on general, health insur…