Which was the first Act to regulate life insurance industry in India?

A Insurance Act, 1938
B Life Insurance Companies Act, 1912
C IRDA Act, 1999
D LIC Act, 1956

Correct Answer: Life Insurance Companies Act, 1912

Life Insurance Companies Act, 1912 was the first Act to regulate life insurance industry in India. In order to regulate these insurance companies, Life Insurance Companies Act and Provident Fund Act were passed in 1912. Evolution of insurance industry has undergone three phases, Pre-Nationalisation, Nationalisation and Privatisation.
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নৌ-বিমার ক্ষতির পরিমাণ ও বিমা দাবি আদায় নিচের কোন ক্ষেত্রে সহজ? (In which of the following marine insurance cases: it is easy to determine the amount of loss and recovery of insurance claim?)
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B উদ্ধারযোগ্য সামগ্রিক ক্ষতি (Constructive Total Loss )
C সাধারণ আংশিক ক্ষতি (General Partial Loss
D বিশেষ আংশিক ক্ষতি (Particular Partial Loss)

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