Question Description
Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer?.

Solutions for Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.

Here you can find the meaning of Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the passage carefully and select the best answer to the question out of the given alternatives.With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the centre of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture, and enterprise and cyber resilience," he suggested.Q. Who had organized the virtual seminar?a)Insurance Regulatory and Development Authority of Indiab)The Confederation of Indian Industryc)Reserve Bank of Indiad)The insurersCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CAT tests.