………….is an amount in excess of the value of insurers assets over the amount of liabilities.This amount is prescribed by IRDA.

Related MCQs

• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
• The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers
• The IRDA was set up in
• The IRDA was set up in…………..
• The IRDA stands for
• Objective of IRDA includes
• From the following which is the dilly or powers of IRDA.
• ________ Policy covers both fixed and current assets of insured manufactures.
• When the amount for which a subject matter is insured is more than its actual value, it is called _________
• ………..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.