When was the Indian Mercantile Insurance established?

A. 1905

B. 1906

C. 1907

D. 1908

Answer: Option C

Solution(By Examveda Team)

The Indian Mercantile Insurance was established in 1907. It was the first company was set up to transact all classes of general insurance business in India.

Join The Discussion

Related Questions on Insurance

Pick out the incorrect sentence.

A. Underwriting is risk assessment in a proposal on the life of the proposer for offering him life cover

B. Prevention of selection against the insurer is the purpose of underwriting

C. Underwriting is a needless exercise in today’s environment of inadequate coverage of population for life insurance

D. Underwriting process defines and determines the premium chargeable on the proposal for covering risk