IC56 FIRE INSURANCE CLAIMS - 08
Que. 1 : Q1) Which of the following complaints are falling within the scope of Ombudsman?
1. a) Any partial or total repudiation of claim
2. b) Delay in settlement of a claim
3. c) Premium payable or paid in respect of the policy
4. d) All of the above
Que. 2 : Q2) If Total sum insured under the policies is Less than the value at the time of loss. Then Calculate Total Loss.In case of Under-Insurance, Insured bears how much amount?
1. a) Rs.10,000
2. b) Rs.20,000
3. c) Rs.50,000
4. d) Rs.70,000
Que. 3 : Q3) What refers to the cost of repair is payable and depreciation is deducted only if the repairs result in any significant improvement in the repaired machinery?
1. a) Full damage
2. b) Partial damage
3. c) Permanent damage
4. d) None of these
Que. 4 : Q4) According to ___________, if there is under-insurance, that is, if the sum insured under the policy is less than value of the property on date of loss, the amount of loss payable will be proportionately reduced.
1. a) Non-current policies
2. b) Concurrent policies
3. c) Pro-rata average condition
4. d) Partial condition
Que. 5 : Q5) Who is an independent professional duly licensed by IRDA and he is given no authority to bind the company either as to liability or amount and his/her duties are to investigate, negotiate, report and recommend?
1. a) Agent
2. b) Principal
3. c) Surveyor
4. d) None of these