When the amount for which a subject matter is insured more than its actual value, it is called...............
A) over insurance
B) reinsurance
C) double insurance
D) extra insurance
Correct Answer:
Verified
Q15: LIC was set up in the year
A)1824
B)1823
C)1822
D)1821
Q16: LIC was nationalised in the year
A)1951
B)1952
C)1954
D)1956
Q17: The term "Assurance' refers........
A)life insurance
B)fire insurance
C)marine insurance
D)none
Q18: The Oriental Life Insurance Company came to
Q19: The policies where the premium is payable
Q20: With Profit policy is also known as.......
A)multiple
Q21: A reinsurance of reinsurance known as............
A)line
B)retention
C)retrocession
D)cession
Q22: Reinsurance is also termed as..............
A)insurance of insurance
B)retrocession
C)double
Q23: When the same risk and subject matter
Q25: IRDA refers to
A)insurance regulatory development authority
B)indian reinsurance
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents