Teacher:In this task, you are given a piece of an article. Your task is to generate a short summary of the text. Try to give the summary in just one sentence.
Teacher: Now, understand the problem? Solve this instance: Applications for jobless benefits dropped 24,000 last week to a seasonally adjusted 334,000, another positive sign of the job market's steady recovery.
Student:
IRDA prescribed a standard format for life and insurance policy.