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Question: __________ is the first comprehensive legislation governed both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.

Options:

  1.  Insurance Act-1938
  2.  Insurance Act-1939
  3.  Insurance Act-1940
  4.  Insurance Act-1941

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1. Insurance Act-1938

The Insurance Act of 1938 is the first comprehensive legislation governed both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.


More info:

In 1928, an act was enacted to help the Government collect and compile statistical information about the life and non-life business in India by Indian and foreign insurance providers including provident insurance organizations.

The Insurance Act of 1938 was the first law governing both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.

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