Insurance - Study Mode

[#261] Which of the following form is designed to be used by many different insurers and has exactly the same provisions?
Correct Answer

(D) Standard Policy Form

Explanation

Solution: Standard Policy Form is an insurance policy form that is designed to be used by many different insurers and has exactly the same provisions, regardless of the insurer issuing the policy.

[#262] What is the CRISIL rating for New India Assurance Co Ltd located?
Correct Answer

(B) AAA/Stable

Explanation

Solution: AAA/Stable is the CRISIL rating for New India Assurance Co Ltd located. CRISIL has reaffirmed its 'AAA/Stable' rating on The New India Assurance Co Ltd (New India Assurance), indicating that the company has the highest degree of financial strength to honour its policyholders' obligations.

[#263] Which of the following type of insurance product are available in New India Assurance Co Ltd located?
Correct Answer

(D) All of the above

Explanation

Solution: Presently NIACL provides following 5 types of insurance: Personal Insurance, Commercial Insurance, Industrial Insurance, Industrial Insurance, Liability Insurance and Social Insurance

[#264] The New India Assurance Co. Ltd. was a subsidiary of which of the following company?
Correct Answer

(A) General Insurance Corporation of India (GIC)

Explanation

Solution: Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.

[#265] Where is the head office of Agriculture Insurance Company of India Limited (AIC)?
Correct Answer

(B) New Delhi

Explanation

Solution: The head office of Agriculture Insurance Company of India Limited (AIC) is in New Delhi.