Skip to content

CMA Final · Corporate and Economic Laws · Laws and Regulations related to Insurance Sector

Under the Insurance Act, 1938, which of the following is specifically required to be included among the insurance policies that an insurer provides to persons in the rural sector, workers in the unorganised or informal sector and economically vulnerable or backward classes?

Insurance for crops is the item the Act says such policies must include. Section 32C obliges insurers to serve rural, unorganised sector and economically vulnerable or backward classes, and expressly states that these policies shall include crop insurance.

  1. AInsurance for cropsCorrect
  2. BInsurance for commercial aircraft
  3. CInsurance for marine cargo only
  4. DInsurance for listed securities

Explanation

Section 32C requires every insurer to discharge its obligations to provide life or general insurance policies to rural, unorganised sector and backward class persons, and states that such policies shall include insurance for crops. The other options are not mentioned in that section.

Did you get it right without looking?

One question tells you little. A timed set on Laws and Regulations related to Insurance Sector shows your real accuracy, how long you take and where you lose marks.

Practise Laws and Regulations related to Insurance SectorFree diagnostic mock

More Laws and Regulations related to Insurance Sector questions