Which of the following is NOT a function of the IRDA per the brochure?
A{'text': 'Registering and regulating insurance companies', 'letter': 'A'}
B{'text': 'Directly selling insurance products to the public', 'letter': 'B'}
C{'text': 'Licensing insurance intermediaries', 'letter': 'C'}
D{'text': 'Specifying solvency margin', 'letter': 'D'}
Answer & Solution
Correct answer: B. {'text': 'Directly selling insurance products to the public', 'letter': 'B'}
1. IRDA registers and regulates insurance companies and licenses intermediaries.
2. It also specifies solvency margins and protects policyholders' interests.
3. Per the Public Notice section: IRDA does not involve directly or through any representative in sale of any kind of insurance or financial products.
_Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "IRDA does not involve directly or through any representative in sale of any kind of insurance or financial products."_