Tuesday, December 11, 2007

Property and Liability Insurance - 1.1

  • Transport operators can take special declaration policy.
  • What questions does the proposal form contain?
    Proposer's name , Proposers occupation , Sum insured
  • The Standard Fire Policy does not cover expenses incurred on the architect's fees, in excess of :-
    3% of claim amount
  • The person is said to have "Insurable Interest" in the property when he is likely to suffer financially if the property is lost / damaged.
  • Sum insured - It should be clearly specified in the policy
    Boiler - Fixed closed vessel in which steam is generated.
    Risk covered - Theft & burglary
    Risk not covered - Damages falling under manufacturer's guarantee.
  • If the insured selects four additional sections other than section I and II under office protection shield, he is allowed a discount on premium @ :-
  • Escalation Provision under MCE Policy is permitted
    once at a time of inception
  • The amount of compensation payable under 'No Fault Liability' in case of death is Rs. :-
    Rs. 50000
  • What are the main elements of a contract?
    Offer & acceptance , Capacity to contract , Consideration
  • In Fire Insurance, Mid Term Revision i.e. increase or decrease in Sum Insured is not permitted.
  • Theatres can be categorized under the following Public liability :-
    Non industrial risks
  • Standard Fire Policy does not cover expenses incurred on Architect/ Surveyors Fee, incurred by insured on occurrence of loss in excess of ________% claim amount.
  • Which of the following are exclusions to motor package policy?
    Depreciation , Consequential loss

No comments:

Post a Comment