Professional Documents
Culture Documents
Presented by:
Mohd.Arish
Shakur Ansari
Chandann Prasad
Content
qIntroduction
qObjectives of IDR
qFunctions
qInsurance Authority Regulation Act
1999
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Introduction
q Industrial licensing became a part of industrial
economy of India with the passing of industries
(development & regulation Act), 1951.
q This Act came into effect on May 8,1952
q The conceptual and legal framework for small scale
and ancillary industrial undertakings is derived
from the IDR Act, 1951.
q The Industries (Development and Regulation) Act
provides the conceptual and legal framework for
industrial development and industries in India.
q It is briefly known as the IDR Act. The act was
enacted in 1951 and a number of amendments
have been made in the Act.
Objectives
q To implement the industrial policy.
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q The Authority is a ten member team consisting of
insurance)
q First year-7%
q Second year-9%
q Third year-12%
q Fourth year-14%
q Fifth year-16%
q Sixth year-18%
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For general insurer….
q First year- 2%
q Second year- 3%
q Third year-5%
q Fourth year- 5% so on…
q All insurers are obliged to issue 5,7,10,15,20,and
25 thousand lives in first six years respectively.
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LICENCING OF INSURANCE
AGENTS
An insurance agent is a licensed agent with