What was the primary objective of the Insurance Amendment Act, 2015 in India? Strengthen the public sector insurance firms Increase the FDI limit in insurance Promote life insurance Encourage non-life insurance

How has the transition of the Indian insurance industry been characterized post liberalization in the late 1990s?Decline in the number of insurance companiesA monopolistic market with only public sector companiesIncreased foreign investments and joint venturesStagnation in insurance product innovation

hich of the following is NOT an example of public insurance policies?Indian Health ServiceMedicareMilitary Health SystemEmployer sponsored plan

Which of the following is the regulator for the insurance sector in India?SEBIIRDAIRBIMinistry of Finance

How does the Protection of Policyholders Interest act contribute to the insurance sector?By increasing competition among agentsBy ensuring transparency and fairness towards policyholdersBy reducing the premium amountsBy minimizing the responsibilities of insurance agents

The purpose of insurance is to:Develop a savings planProvide an investment opportunityTransfer financial riskAll of the above