Which act was the first legislation governing all forms of insurance to provide strict state control over insurance business?

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Which act was the first legislation governing all forms of insurance to provide strict state control over insurance business?

 Options:

 

1. Insurance Act of 1938
2. General Insurance Business Act of 1972
3. Life Insurance Corporation Act
4. Insurance Act of 1988
5. None of these

 

The Correct Answer Is:

  • 1. Insurance Act of 1938

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