Insurance Awareness Questions Set 11

Important Insurance Awareness Questions on Headquarters of Insurance Companies and terms for NICL, NIACL, LIC and other competitive exams. 

  1. Where is the headquarters of Liberty Videocon General Insurance Company Limited, located?
    A) Mumbai
    B) Chennai
    C) Gurgaon

    D) Bengaluru
    View Answer
    Option A
    Mumbai, Maharashtra
  2. Where is the headquarters of Cigna TTK Health Insurance Company Ltd. located?
    A) Mumbai
    B) Jaipur

    C) Pune
    D) Bengaluru
    View Answer
    Option A
    Mumbai, Maharashtra 
  3. Where is the headquarters of Kotak Mahindra General Insurance Company Limited located?
    A) Gurgaon
    B) Jaipur

    C) Chennai
    D) Mumbai
    View Answer
    Option D
    Mumbai, Maharashtra
  4. Where is the headquarters of Aditya Birla Health Insurance Co. Limited located?
    A) New Delhi
    B) Bengaluru

    C) Mumbai
    D) Gurgaon
    View Answer
    Option C
    Mumbai, Maharashtra
  5. Where is the headquarters of DHFL General Insurance Limited located?
    A) Chennai
    B) Mumbai

    C) Gurgaon
    D) Bengaluru
    View Answer
    Option B
    Mumbai, Maharashtra  
  6. What does A stand for eIA?
    A) Applicant
    B) Approve

    C) Agent
    D) Account
    View Answer
    Option D
    Some Extra:

    eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the insurance policy documents of policyholders in electronic format. This e-Insurance account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. IRDA has granted the Certificate of Registration to the following five entities to act as ‘Insurance repositories’ that are authorized to open e-Insurance Accounts.
  7. Insurance Repository is a company formed and registered under which act?
    A) Insurance Act, 1938
    B) Companies Act, 1956

    C) The IRDA Act 1999
    D) Banking and Insurance Companies Act, 1949
    View Answer
    Option B
    Some Extra:
    “Insurance Repository” means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.
  8. An AP is a Point of Sale (PoS) appointed by Insurance Repository and will be working on behalf of Insurance Repository to extend the IR services. What is A in AP?
    A) Authorized
    B) Approved

    C) Accountant 
    D) Addressed
    View Answer
    Option B
    Some Extra:
    AP – Approved Person 
  9. How many days does it take to open an e-Insurance account after all the necessary formalities are completed?
    A) 14
    B) 10

    C) 7
    D) 15
    View Answer
    Option C
    Some Extra:
    An e-Insurance account will be opened within 7 days from the date of submission of application complete in all respects.
  10. Where is the headquarters of General Insurance Corporation of India located?
    A) Mumbai
    B) New Delhi

    C) Kolkata
    D) Lucknow
    View Answer
    Option A
    Some Extra:
    There are 2 Re-insurer Companies in India –
    1) General Insurance Corporation of India – Headquarters:  Mumbai
    2) ITI Reinsurance Limited – Headquarters:  Mumbai

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