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
- A document given to an applicant for life insurance stating that the company’s acceptance is contingent upon determination of the applicant’s insurability ...
- Which committee is associated with insurance sector ?
- Insurance is primarily a method of:
- After which of the following year the Government of India started publishing returns of Insurance Companies in India?
- The “Malhotra Committee” was established to:
- Which of the following is a public sector general insurance company in India?
- What is a quota share treaty?
- General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from?
- What does IRDA mandate for surveyors handling losses above INR 20,000?
- Which of the following organization provides export credit insurance support to Indian exporters?
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
