Monday, December 10, 2007

Legal Aspects of Insurance - 1.2

  • Percent of premium received in advance in declaration policy is:-
  • Household goods are sent to Jaipur from Surat, the insurance available to protect the goods from loss are:-
    Marine transit insurance , Carrier's liabilities insurance
  • If the amount of compensation is more than 20 lacs it falls under commission jurisdiction at:-
    National level
  • An offer remains open till:-
    It is revoked , It is rejected
  • The main object of the environment protection Act is to co-ordinate activities of central & state pollution board.
  • Bank financed Mr. Joshi, to purchase a house. Insured and Bank both have taken insurance policies from two different insurers for the same period. Unfortunately there is a claim due to short circuit. The claim now will be:-
    Payable by both Insurer
  • Under workmen’s compensation act it is compulsory that all workmen are covered under the policy, and policy is issued on ________ basis.
  • Mr. Ravi made a duplicate Will of his father with the intention to take over all his property. According to Indian Penal Code, the act is:-
  • To avoid conflict between two insurer for same risk, the principle of ________ arises.
  • Detention is one of tort relating to person.
  • After payment of claim amount in full, the care of abandoned damaged subject matter is to be taken by insured.
  • Injury caused by or contributed to by war is:-
    Excluded under policy
  • Business -Transactions in connection with trade / commerce
    Surveyor belonging to category "A" -12 Months Training
    Loss assessor - Code of conduct
    Hit & Run claims - Solatium fund
  • Facilities for delay premium - Legal Liability to passengers
    Objective of reinsurance - Maximum retention within the country
    Premium in installment - Contract performance Bonds
    Rule 58 of Insurance Act - Advance payment of premium yes

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