History of Insurance Industry in India
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Questions and Answers

When was the first British insurance firm established in India?

  • 1823
  • 1874
  • 1818 (correct)
  • 1871
  • What was the extra premium charged to Indians compared to the British before the establishment of the Bombay Mutual Life Assurance Society?

  • Up to 20% (correct)
  • Up to 10%
  • Up to 40%
  • Up to 30%
  • In which year did the first statutory measure in India to regulate the life insurance business come into effect?

  • 1912 (correct)
  • 1871
  • 1829
  • 1818
  • Which act was the Indian Life Assurance Companies Act, 1912 based on?

    <p>English Act of 1909</p> Signup and view all the answers

    Why were other classes of insurance business left out of the scope of the Act of 1912?

    <p>They were still in rudimentary form and legislative controls were not considered necessary</p> Signup and view all the answers

    Which city saw the establishment of the Madras Equitable Life Insurance Society?

    <p>Madras</p> Signup and view all the answers

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