New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Which of the following entities qualifies as an

    "insurer" according to the Insurance Act?
    A An Indian Insurance Company, a statutory body established by an Act of Parliament, and a foreign company engaged in health insurance through a branch in India Correct Answer Incorrect Answer
    B An insurance co-operative society, a foreign company engaged in life insurance, and a statutory body established by an Act of Parliament to carry on insurance business Correct Answer Incorrect Answer
    C An Indian Insurance Company, a statutory body established by an Act of Parliament to carry on insurance business, an insurance co-operative society, and a foreign company engaged in re-insurance business through a branch established in India Correct Answer Incorrect Answer
    D An insurance co-operative society, a foreign company engaged in general insurance, and a statutory body established by an Act of Parliament to carry on insurance business Correct Answer Incorrect Answer
    E A foreign company engaged in general insurance, a statutory body established by an Act of Parliament, and an Indian Insurance Company engaged in life insurance Correct Answer Incorrect Answer

    Solution

    Section 2 Definitions (9) insurer means-- (a) an Indian Insurance Company, or (b) a statutory body established by an Act of Parliament to carry on insurance business, or (c) an insurance co-operative society, or (d) a foreign company engaged in re-insurance business through a branch established in India.

    Practice Next

    Relevant for Exams: