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 policy that covers the cost of repairing or replacing damaged electronic equipment is:
- What is the period between the date of subscription to an insurance-cum-pension policy and the time at which the first instalment of pension is received?
- A demand made by the insured, or the insured’s beneficiary, for payment of the benefits as provided by the policy is known as?
- What is the primary function of a reinsurer?
- A policy that covers the risk of theft of goods from a shop is:
- The Insurance Act was first introduced in India in:
- What percent of shareholding is under National Bank for Agriculture and Rural Development (NABARD) in Agriculture Insurance Company of India Limited?
- Which of the following is insurable?
- In case of ambiguity in policy wording, which rule is applied?
- Consider the following statement: I. NCB is given to the insured and not to the insured vehicle. II. On transfer of the vehicle, the insurance policy can...
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)