Which insurance company was ordered to stop selling new policies by the IRDAI during November 2019?
A. Religare
B. Reliance Health Insurance Company
C. ICICI Prudencial
D. Fortis healthcare
Answer:B
Which insurance company was ordered to stop selling new policies by the IRDAI during November 2019?
A. Religare B. Reliance Health Insurance Company C. ICICI Prudencial D. Fortis healthcare
Explanation: The Insurance Regulatory and Development Authority of India (IRDAI), on 6 November 2019 ordered Anil Ambani-led Reliance Health Insurance Company (RHIC) to stop selling new policies and transfer the entire policyholders’ liabilities along with financial assets to Reliance General Insurance Co. Ltd (RGICL) with effect from 15 November 2019. The company, which commenced its operations in October 2018, has not been able to maintain the required solvency margin since June 2019 and was followed up by IRDAI repeatedly.