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Objectives of the IRDA include promoting competition to enhance customer satisfaction with increased consumer choice and lower premiums while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with an invitation for registration applications; foreign companies were allowed ownership up to 26 ...
China Banking Regulatory Commission (2003–2018), China Insurance Regulatory Commission (2003–2018), China Banking and Insurance Regulatory Commission (2018–2023), and Financial Stability and Development Committee (2017–2023)
Its mandate is to regulate and supervise the practice of professionals (except lawyers, who are handled by the Supreme Court of the Philippines) who constitute the highly skilled manpower of Philippines. As the agency-in-charge of the professional sector, the PRC plays a strategic role in developing the corps of professionals for industry ...
To further complicate things, there are different types of agents. A captive insurance agent works exclusively with one insurer, selling only that company’s products (e.g., a State Farm agent ...
The Parliament of Bangladesh on 3 March 2010 has passed two insurance laws in a bid to further strengthen the regulatory framework for the insurance industry. The new laws came into effect on 18 March 2010, are the Insurance Act 2010 and IDRA Act 2010. A total of 81 insurance companies have been operating in the country.
Often, independent insurance agents will work with insurance intermediaries, who obtain quotes from multiple insurance providers and pass them off to the independent agent. Working with an insurance intermediary service allows the independent agent to review many quotes and offer their clients the best policy options available.
Insurance Brokers Association of India (IBAI) is an Indian trade association and regulatory body for insurance brokers in India. All licensed insurance brokers in India must be members of the IBAI Insurance Broker Regulations. [1] [2] The association was established as a company under Section 25 of the Companies Act, 1956 on 25 July 2001.
The Universal Access to Quality Tertiary Education Act, officially designated as Republic Act 10931, is a Philippine law that institutionalizes free tuition and exemption from other fees in state universities and colleges (SUCs), and local universities and colleges (LUCs) in the Philippines. The law also foresees subsidies for private higher ...