Insurance Awareness Questions Set 01 (NIACL)

The following questions have been framed about The New India Assurance Co. Ltd (NIACL) which are important for upcoming NIACL Assistant Main Exam. Also useful for other exams. Insurance Awareness Questions NIACL

1. In which year New India Assurance Co Ltd was found?
   A) 1918
   B) 1818
   C) 1919
   D) 1945
   
   View Answer

   Option C
   Explanation:
   Founded by Sir Dorabji Tata in 1919
2. What percent shares of New India Assurance Co Ltd is owned by Government of India?
   A) 50%
   B) 85%
   C) 99.4%
   D) 100%
   
   View Answer

   Option D
   Explanation:
   New India Assurance Co Ltd, today, is a 100 % Govt owned multinational general insurance company
3. New India Assurance Co Ltd has branches in how many countries?
   A) 25
   B) 26
   C) 27
   D) 28
   
   View Answer

   Option D
   
4. Where is the headquarters of New India Assurance Co Ltd located?
   A) New Delhi
   B) Mumbai
   C) Hyderabad
   D) Kolkata
   
   View Answer

   Option B
   
5. What is the CRISIL rating for New India Assurance Co Ltd located?
   A) AA/Stable
   B) AAA/Stable
   C) AA/Negative
   D) AAA/Negative
   
   View Answer

   Option B
   
6. In which year New India Assurance Co Ltd nationalized?
   A) 1945
   B) 1947
   C) 1973
   D) 1969
   
   View Answer

   Option C
   Explanation:
   Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member – Sir Dorab Tata. Nationalised in 1973 with merger of Indian companies.
7. Which of the following type of insurance product is/are available in New India Assurance Co Ltd located?
   A) Personal Insurance
   B) Commercial Insurance
   C) Industrial Insurance
   D) All of these
   
   View Answer

   Option D
   Explanation:
   Presently NIACL provides following 5 types of insurance: Personal Insurance, Commercial Insurance , Industrial Insurance, Industrial Insurance, Liability Insurance and Social Insurance
8. New India Assurance Co Ltd is a type of ?
   A) Life Insurance Company
   B) General Insurance Company
   C) Re-insurance Company
   D) All of these
   
   View Answer

   Option B
   Explanation:
   Life insurance company is one which provides insurance for death. General Insurance company is one which deals in all other types of insurance other than death like vehicle insurance, House Insurance etc. It is also called non-life insurance.,
9. The New India Assurance Co. Ltd. was a subsidiary of which of the following company?
   A) General Insurance Corporation of India (GIC)
   B) Life Insurance Corporation of India (LIC)
   C) The Oriental Insurance Company
   D) United India Insurance Company
   
   View Answer

   Option A
   Explanation:
   Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became an re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.
10. Who is the present CMD of New India Assurance Co Ltd?
    A) Mohammad Mustafa
    B) G. Srinivasan
    C) Arun Tiwari
    D) Hemant G. Rokade
    
    View Answer

    Option B
    

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