Question
2000 factories require a Sum Insured of Rs.10 crores each. Statistically, we know that 2 factories get destroyed by fire each year. However, we do not know which two . So, if the losses are to be paid for by all of the 2000 factory owners, what should be the contribution by each factory owner by way of pure premium?
More Insurance Awareness Questions
- _______ is basically a trade in which imported goods are re-exported with or without any additional processing or repackaging.
- New India Assurance Co Ltd is a type of ?
- What is the minimum tenure of public provident fund?
- A property or liability insurance contract in which all risks of loss are covered is called?
- The Institute of Insurance and Risk Management (IRM) was founded in which of the following year?
- The principle ensuring an insured is not compensated more than the actual loss is:
- What is the purpose of "File and Use" regulations?
- Purchase price (premium) for the immediate annuity is to be paid in how many installments?
- Risks for which it is difficult for someone to get insurance is called?
- “With Us, You’re Sure” is the tagline of which insurance company?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)