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Question: Objective of IRDA includes

Options:

  1.  Policy holder protection
  2.  Healthy growth of the insurance market
  3.  Only 1
  4.  Both 1 and 2

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1 Answer

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Best answer

4. Both 1 and 2

Objective of IRDA includes 'Policy holder protection' and 'Healthy growth of the insurance market'.


More information:

Insurance Regulatory Development Authority is an autonomous body created with the aim of protecting the interests/rights of insurance holder and also to regulate and develop the business of insurance and reinsurance in India

Main function/mission of IRDA:

  • to protect the interests of the policyholders
  • to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto

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