Identify the correct statement

A. Lloyds is the originator of insurance

B. Modern insurance is traceable to bottomry

C. Malhotra committee is the originator of modern insurance

D. Modern insurance traces itself to Rhodes

Answer: Option A

Solution(By Examveda Team)

Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, United Kingdom. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee house on Tower Street in c. 1686.