NEW INDIA ASSURANCE - FOUNDATION DAY SPECIAL
New India Assurance Foundation Day Quiz
Test your knowledge of New India Assurance and its significance in the insurance industry with our engaging quiz. This quiz covers various aspects of the company's history, policies, and operations.
Challenge yourself with questions like:
- When was New India Assurance founded?
- What is ICC in marine insurance?
- What covers a personal accident policy?
Founded by Sir Dorab Tata from the house of TATAs, New India Assurance was incorporated on 23rd July,19..
1919
1920
1947
1973
Who is the chairman cum managing director of New India Assurance
G Srinivasan
Atul Sahai
Inderjeet Singh
Anjay Dey
ICC in marine insurance stands for
Insurance Cover for Cargo
Insurance for Cargo in Container
Institute Cargo Clauses
International Cargo Cover
Mr. Pravesh's vehicle met with an accident in which bumper, bonnet and windscreen are damaged. His policy has basic excess of $500 and windscreen excess of $100. What is excess applicable for the claim ( KFK, underage, provisional excess not applicable)
$100
$600
$500
NIL
Which of the following is an Act of God Peril
Fire
Cyclone
Malicious Damage
War
BA industries has hired security guards through Pioneer security services. The security guard was injured while handling the main gate at BA industry's factory. He has filed a claim against BA industries( Our insured) under public liability. The claim
Is payable. Public liability policy extends cover for bodily injury
Is payable, if Pioneer security services is also insured with us
Is not payable. Public liability excludes cover for employees of the insured and subcontractors of the insured
Is not payable as claimant is not employee of BA industries
Mrs. Alisha expired because of pregnancy related complications. Her husband filed a claim under personal accident policy. The claim
Is payable as Personal Accident policy covers death and bodily injury
Is not payable as Pregnancy related death or disablement is excluded
Is payable subject to recovery from the Doctor/hospital responsible
Is not payable as Mrs. Alisha has not disclosed of her Pregnancy
Automart Ltd( Our insured) has issued a cheque to National Labour Party for $200. Mr. Rimal, employee of National Labour party, has withdrawn $2000 by altering the figures on the cheque. Automart has filed a claim under their FG policy. Claim is
Payable as Automart has suffered loss
Payable subject to recovery from National Labour Party
Not Payable as no employee of Automart was involved
Not Payable as cheques are not covered under FG policy
Toll construction has obtained CAR policy for 1 year for constructing a commercial complex. They have completed the construction in 9 month and filed request for refund of premium for 3 months.
Refund is payable for 3 month
Refund is payable as per short period scale
Refund is payable if there were no claims
No refund is payable for early completion
Which of the following is false regarding an insurable risk?
There must be a large number of homogeneous units
The insured event must be accidental.
The loss must be speculative
The chance of loss must be calculable.
The fact that the insured is restored to the same financial condition as prior to a loss and should not profit or lose from an insurance transaction is considered:
Reimbursement
Indemnification
Law of Large Numbers
Contribution
When a reinsurer wishes to reduce its own liability on a particular risk, it may do so by arranging a
Cession
Concession
Retrocession
Treaty
A material fact is one that
Contributes to the description of the risk
Could influence the acceptance of the risk
Must be disclosed by law
Refers to all the key information.
An unearned premium is that portion of the policy premium that
Covers the policy period that has not yet expired
Has not been paid out as a loss or losses
Has not been paid out as losses or as commissions to agents/brokers
Is left over after the payment of all losses, commissions and expenses.
The headquarters of New India Assurance is located in
Mumbai
Chennai
Pune
Hyderabad
ISPS in regulatory context stands for
International supervision for policy standards
Insurance Supervision Policy Statement
Insurance standards for policy structure
International standards for policies
The solvency margin of an insurance company is
Surplus of liabilities over assets
Surplus of assets over liabilities
Equal to Net profit
Gross premium less claims
Insurers are required to publish KDS no later than 4 months after the end of each calendar year. KDS stands for
Known Debts Statement
Key Disclosure Statement
Key Directors and Staff
Key Data Statistics
________________ covers the probability of a predefined event happening (e.g., a major hurricane and earthquake), and pays out according to a predefined scheme.
Employers Liability Insurance
Micro Insurance
Parametric Insurance
Pandemic Risk Pool
______________________covers the actuary’s calculation of the general insurer’s reported claims, IBNRs and premium liabilities.
Financial Condition Report
Liability Valuation Report
Internal Audit Report
Actuarial Investigation Report
{"name":"NEW INDIA ASSURANCE - FOUNDATION DAY SPECIAL", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge of New India Assurance and its significance in the insurance industry with our engaging quiz. This quiz covers various aspects of the company's history, policies, and operations.Challenge yourself with questions like:When was New India Assurance founded?What is ICC in marine insurance?What covers a personal accident policy?","img":"https:/images/course1.png"}