Insurance Regulation

Question 1

What insurance act revoked the 1961 insurance act?

Answer 1

Insurance act of 1976

Question 2

Which insurance act made provisions for investment of insurance funds

Answer 2

Insurance Miscellaneous Provisions Act of 1964

Question 3

What insurance act stopped the contrast of locally based and foreign based insurance companies operating in Nigeria?

Answer 3

Insurance Companies act of 1968

Question 4

The time for settlement of motor accident claims was specified in what act?

Answer 4

Insurance act of 1976

Question 5

What act prohibited the unilateral increase in premium rates, warranties etc without approval of director of ins?

Answer 5

Insurance Act of 1976

Question 6

Insurance Decree of 1991 made re-enacted what act?

Answer 6

Insurance Act of 1976

Question 7

In Insurance Decree of 1991, no insurance investor was to own shares of over how many percentage ?

Answer 7

25%

Question 8

Under Insurance Decree of 1991, solvency margin should not be less that what percentage of the gross premium income?

Answer 8

15%

Question 9

Insurance Special Supervision Decree of what year?

Answer 9

1989

Question 10

Insurance Special Supervision Decree(amendment)

Answer 10

1992

Question 11

Insurance Special Supervision Decree of 1992(amendment) talks about the establishment of a National supervisory bond known as?

Answer 11

Board In Act

Question 12

Insurance Decree 2 of ?

Answer 12

1997