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Commercial Insurance History UK - take the quiz

A vintage British insurance office with historical documents, old insurance policy papers, and a clock indicating the 17th century.

Test Your Knowledge: Commercial Insurance History in the UK

How well do you know the history of commercial insurance in the UK? This quiz is designed to evaluate your understanding of key events, concepts, and terminology related to commercial insurance.

8 thought-provoking questions
Multiple choice format
Perfect for both enthusiasts and professionals

8 Questions2 MinutesCreated by InsuringEagle274

When did the first commercial insurance policy in the UK become available?

17th century

18th century

19th century

20th century

What is the name of the world's oldest existing insurance company?

Lloyd's of London

Prudential

AXA

Allianz

Which type of insurance covers businesses against losses due to employee dishonesty or theft?

Professional indemnity insurance

Public liability insurance

Employer’s liability insurance

Business interruption insurance

Who introduced the concept of fire insurance in 1666?

Edward Lloyd

Nicholas Barbon

Thomas Farriner

Robert Hooke

What does the term ‘subrogation’ refer to in relation to insurance?

The right of an insurer to pursue a third party for compensation

The process of transferring risk from one party to another

The transfer of ownership rights from one party to another

The act of cancelling an insurance policy

What type of insurance provides cover for damage caused by natural disasters such as floods and earthquakes?

Property insurance

Liability insurance

Health insurance

Motor insurance

What is the purpose of excess on an insurance policy?

To reduce the cost of premiums

To increase the level of cover provided

To provide additional protection against certain risks

To limit the insurer’s liability

What type of insurance protects businesses from financial losses resulting from legal action taken against them?

Professional indemnity insurance

Public liability insurance

Employer’s liability insurance

Product liability insurance

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