Insurance Awareness - Reinsurance
Which of the following statements about the Reinsurance Pool in India is INCORRECT?
Which of the following statements about the Reinsurance Pool in India is INCORRECT?
medium Q14 of 15
Step-by-Step Solution
Step 1: Analyze each statement
Statement A is INCORRECT: Reinsurance Pools are primarily for general/non-life insurance risks, not exclusively life insurance. Statements B, C, and D are true: GIC Re acts as facilitator/manager, pools help share large risks, and government mandates pools for sectors like crop insurance.Final Answer:
Reinsurance Pools are exclusively used for life insurance policies in India → Option AQuick Check:
[Reinsurance Pools] = General Insurance risks, NOT Life ✅
Quick Trick: Remember: Pools = General Insurance risks, not Life Insurance.
Common Mistakes:
MISTAKES- Assuming reinsurance pools cover life insurance exclusively.
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