Question: Where located head office of IRDAI ?
a) Hyderabad
b) New delhi
c) Kolkata
d) None of these
Ans :a
Related Facts :
- Life Insurance Corporation of India, General Insurance Corporation of India and New India Assurance remain Domestic Systemically Important Insurers (D-SIIs) and consequently subject to enhanced regulatory supervision.
- Insurance regulator IRDAI said this while announcing LIC, GIC Re and New India have been identified, like in 2020-21, as D-SIIs for 2021-22.
- Given their nature of operations and systemic importance, the three insurers have to carry on efforts to raise the level of corporate governance besides identifying all relevant risks and promoting a sound risk management framework and culture.
- The D-SIIs refer to insurers of such size, market importance and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system.
- D-SIIs are perceived as insurers ‘too big or too important to fail.