Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points
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IRDA?s objectives include protecting the interests of the insured and promoting orderly growth of the insurance industry in India.
The life Insurance Council consists of all the members and associate members of the Association who carry on life insurance business in India. The objectives of Executive Committee include aiding, advising and assisting insurers carrying on life insurance business.
The General Insurance Council consists of all the members and associate members of the Association who carry on general insurance business in India. The objectives of Executive Committee include to aid, advise and assist insurers in carrying on general insurance business.
Hit and Run accidents - An accident arising out of the use of a motor vehicle or motor vehicles whose identiy cannot be ascertained in spite of reasonable efforts for the purpose.
Hit and Run accidents - Solatium Fund - Contribution from General Insurance Industry, Central and State Governments. Death - Rs 2 Lakhs, Grievious Injury - Rs 50,000
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