Multiple choice

Which of the following is the policy created by IRDA to promote insurance coverage among economically vulnerable sections?

  1. Burglary Insurance

  2. Machinery Breakdown Policy

  3. Micro-insurance Policy

  4. Erection All Risks (EAR) Policy

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Insurance Regulatory and Development Authority (IRDA) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among economically vulnerable sections of society. The IRDA Micro-insurance Regulations, 2005 defines and enables micro-insurance.