21-11 Historically,commercial banks have been prohibited from acting as an underwriter of insurance products.

Question

Quizplus · Accepted Answer

Commercial banks have traditionally been restricted from providing insurance services due to regulatory and legal barriers, but this varies by country and jurisdiction. However, in recent years, there has been a trend towards convergence between the banking and insurance industries, leading some commercial banks to enter the insurance underwriting business through joint ventures, partnerships, or subsidiaries.

21-11 Historically,commercial Banks Have Been Prohibited from Acting as an Underwriter