Q. What is the role of the General Insurance Council's Executive Committee regarding actual expenses of management incurred by an insurer?

View solution

Q. Under which Act was the General Insurance Corporation of India (GIC) formed as a Government company?

View solution

Q. According to the General Insurance Business (Nationalisation) Act, 1972, what was the purpose of establishing GIC as a holding company?

View solution

Q. What are the functions of GIC as stated in the General Insurance Business (Nationalisation) Act?

View solution

Q. According to the Act, what role does GIC play in relation to competition among subsidiary companies?

View solution

Q. How were the Indian insurance companies organized under GIBNA, 1972, after the formation of GIC?

View solution

Q. Why were the four General Insurance companies positioned to promote competition among them?

View solution

Q. What significant change did the Insurance Regulatory and Development Authority Act, 1999, bring to the Insurance Act, 1938?

View solution

Q. What is the role of GIC as the Indian reinsurer according to GIBNA, 1972?

View solution

Q. How did the Central Government address the relationship between GIC and its subsidiaries in the context of general insurance business and reinsurance?

View solution

Q. Why was GIC made to operate exclusively in the reinsurance arena?

View solution

Q. What empowers the Central Legislature to regulate the insurance industry in India?

View solution

Q. Which company, established in Calcutta in 1818, was the first to start life insurance operations in India?

View solution

Q. In which year was the first statutory measure introduced in India to regulate the life insurance business?

View solution

Q. What was the name of the first general insurance company established by an Indian in Bombay in 1907?

View solution

Q. In which year was the life insurance business nationalized, leading to the formation of the Life Insurance Corporation (LIC) of India?

View solution

Q. What significant event occurred with the introduction of the General Insurance Business (Nationalisation) Act, 1972?

View solution

Q. When was the General Insurance Corporation (GIC) formed, and what role was it initially assigned?

View solution

Q. In which year were reforms initiated by the Government, leading to the formation of the Insurance Regulatory and Development Authority (IRDA) and the liberalization of the insurance sector?

View solution

Q. What is the maximum Foreign Direct Investment (FDI) allowed in the insurance sector according to current rules?

View solution