The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced relaxation of norms for surety bonds. _________ is the purpose of surety bond in the context of insurance ?
(a) To protect the parties from possible financial loss due to natural calamities (b) Providing coverage for personal property and belongings (c) Managing the risks associated with breach or non-performance of the contract (d) Providing health insurance coverage to individuals and families Ans.(c) Sol. Surety bonds serve as an insurance policy that protects parties involved […]
