Which of the following points are correct with respect to the recent in Jan 39 22 IRDAI steps toward...........

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Which of the following points are correct with respect to the recent (in Jan'22) IRDAI steps towards Motor, Property Insurances & surety Norms?

A) IRDAI set up motor insurance & Property Insurances in 'Institute of Insurance & Risk Management (IIRM) & National Insurance Academy (NIA) to promote loss prevention in the insurance Industry.

B) New Surety norms — IRDAI (Surety Insurance Contracts) Guidelines, 2022 was set up by IRDAI under the section 14 (2) (i) of IRDA Act, 1999.

C) IRDAI also decided to form an advisory committee under the chairmanship of the NIA director to develop standard survey/inspection.

All A, B & C

Only A

Only B

4) Only A & C

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Explanation:

Answer-1) All A, B & C Explanation: IRDAI set up motor insurance & Property Insurances in 'Institute of Insurance & Risk Management (IIRM) & National Insurance Academy (NIA) to promote loss prevention in the insurance Industry. i. IRDAI (Surety Insurance Contracts) Guidelines, 2022 was set up by IRDAI under the section 14 (2) (i) of IRDA Act, 1999. ii. IRDAI also decided to form an advisory committee under the chairmanship of the NIA director to develop standard survey/inspection.