The Weekly Insurance Digest having Insurance General Knowledge questions from the weekly updates.
Basically, this is the compendium of Insurance GK questions from the week’s major happenings in the Insurance sector.
InsuranceGK weekly current affairs quiz is having the latest GK quiz questions about insurance.
It is a compendium of all Insurance latest updates, launched and industry developments across all branches of Insurance. It aims to test the learning of InsuranceGK visitors with Industry updates in one place.
This weekly Insurance quiz will definitely help all Insurance examination aspirants and Insurance professionals to update their current Insurance knowledge or affairs.
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Q-1- Life Insurance Corporation of India (LIC) recently implement the software of Anti Money Laundering reporting system from which of IT company?
- IDBI Intech
- Wipro Limited
- HCL Technologies
- Tata Consultancy service
Option-1 IDBI Intech Ltd., the technology led business transformation organisation offering specialised solutions in the Banking, Financial Services and Insurance (BFSI) verticals has successfully implemented their iAML (Anti Money Laundering) solution at India’s insurance giant, the Life Insurance Corporation of India (LIC).
Q-2- Which International credit rating agency rated The New India Assurance Company Limited (NIA), in financial strength rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good).
- AM Best
- Standard & Poor’s
- Moody’s Investor Services
Option-2 International rating agency AM Best has affirmed the financial strength rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of the New India Assurance Company Limited (NIA), state owned largest Indian general insurer.The outlook of these Credit Ratings (ratings) is stable.
Q-3- With which leading catastrophe risk solution company the Indian re/insurance broker J. B. Boda Group announce a new agreement?
Option-1 RMS®, a global leading catastrophe risk solutions company,and Indian re/insurance broker J. B. Boda Group announce a new agreement towards licensing the RMS® India Earthquake Model and RMS® India Inland Flood Model and the adoption of RMS Analytical Services, enabling J. B. Boda to offer a more comprehensive catastrophe risk view for their clients in India and around the globe.
Q-4- The Government is considering allowing Foreign Institutional Investment(FII) of up to ______in Life Insurance Corporation, according to a government source.
Option-2 According to a Government source,The Government is considering allowing Foreign Institutional Investment(FII) of up to 20% in Life Insurance Corporation(LIC).
Q-5- The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to ____________from its stake sale.
- ₹600 billion
- ₹700 billion
- ₹800 billion
- ₹900 billion
Option-4 The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to Rs. 900 billion ($12.24 billion) from its stake sale.
Q-6- Neeraj Chopra signs first brand endorsement with _____________
- SBI Life
- Max Life
- HDFC Life
- Tata AIA Life
Option-4 Tata AIA Life signing of a multi-year brand partnership with Indian athlete and Olympic gold medallist Neeraj Chopra, as its brand ambassador.
Q-7- IRDA revamps ____________ norms, SMEs and Project Finance will benefit from this.
- Marine Insurance
- Project Insurance
- Trade Credit Insurance
- Cyber Crime Insurance
Option-3 Some of new kind of covers that will now available in India are: “Project Cover”- insurance of receivables, against non-payment by the principal or buyer, provided to a contractor engaged in but not limited to long term infrastructure, civil and industrial projects and services. The project period should be more than six months. “Protracted Default”- failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt. “Reverse Factoring arrangement” where any arrangement in whatever name or form, between a borrower and a financer, wherein a borrower receives or is supposed to receive finance, either directly or indirectly, for borrower’s purchase of trade receivables, goods or services.