[amp_mcq option1=”1970″ option2=”1971″ option3=”1972″ option4=”1973″ correct=”option3″]
The correct answer is: C. 1972
The general insurance business was nationalised in 1972. This means that the government took over the ownership and control of all general insurance companies in the United Kingdom. The government’s aim was to improve the efficiency and stability of the insurance industry.
The nationalisation of the general insurance business was a controversial decision. Some people argued that it was necessary to protect consumers from the risk of financial failure of insurance companies. Others argued that it was an example of government interference in the free market.
The nationalisation of the general insurance business was eventually reversed in 1982. The government argued that the industry was now sufficiently stable and efficient to be returned to private ownership.
Here is a brief explanation of each option:
- A. 1970: This is incorrect. The general insurance business was not nationalised in 1970.
- B. 1971: This is incorrect. The general insurance business was not nationalised in 1971.
- D. 1973: This is incorrect. The general insurance business was not nationalised in 1973.
- C. 1972: This is the correct answer. The general insurance business was nationalised in 1972.