Which of the following is the first legislation governing both Life Insurance and Non-life insurance?

A)
Life Insurance Corporation Act, 1956
B)
Life Insurance Companies Act, 1920
C)
Life Insurance Companies Act, 1912
D)
The Insurance Act, 1938

Correct Answer : Option (D) - The Insurance Act, 1938



The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over insurance business.

Published On : June 2, 2021
Category : Insurance and Finance