Question

Which committee was constituted IRDAI to review regulations governing the insurance marketing firms ( IMF)? [ June 2018]
a. K.G Ramadevi committee
b. Sourav Bhanot committee
c. Siddharth Pradhan committee
d. Suresh Mathur committee

Answer 1

Hint:
The regulation of the insurance marketing firms in the year 2015 under the IRDAI. The regulations are silent under the recommended guidelines. The financial sector regulators and jurisdiction of the marketing firms are strengthened by the distribution channel due to the recommendation. Before July 31, 2018 with the help of recommendation the committee will come up.

Complete step by step solution:
The IRDAI is the insurance regulatory and development authority of India that are used in the insurance marketing firms to review the regulations pertaining. Suresh Mathur is the head of the insurance marketing firms and executive director of the IRDAI. The silent guidelines area in the insurance marketing re-visit by the IRDAI committee in the year of 2015 under the IMFs regulations. The insurance industry in India developed and regulated by the Apex statutory body of the IRDA under the development authority act 1999 and in the Hyderabad district Telangana the headquarter is located for the insurance marketing firms. It provides certification to the life, insurance companies and policy holders, registration and help to protect the all rights in the IRDA.

Hence, the correct answer is option D.

Note:
Ten members are constituted by the IRDAI and insurance coverage fulfilled by all layers in the regulation review in the distribution channels.In the year 2015 IRDAI introduced the new distribution channel in the insurance marketing through the area wise registration approach to increasing the insurance penetrations. Every three year the insurance marketing channels have been operated.