Question
Insurance companies that band together as self-insurers
and form an organization that is chartered and licensed as an insurer in at least one state to handle liability insurance is called?Solution
Risk Retention Groups (RRGs) are liability insurance companies owned by its members. RRGs allow businesses with similar insurance needs to pool their risks and form an insurance company that they operate under state regulated guidelines.
The first motor vehicle insurance policy was issued in the UK in:
The primary categories of insurance business in India are:
Life Insurance Corporation of India provides its policy holders the facility to deposit premium at which of the following intervals?
What type of insurance covers goods in transit by road, rail, sea, or air against various risks?
Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as?
What is the value of the bond whose Face value is Rs.1000 having a coupon rate of 10% when the required rate of return is 14%?
What is the purpose of a "loss adjuster"?
What is NOT an element of an insurance contract?
Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires is termed as?
Contract under which the ultimate liability of the reinsurer is capped and on which anticipated investment income is expressly acknowledged as an underw...
