Assignment -A
Q1. Discuss the scope of Standard Mediclaim Policy.
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Q2. Discuss the scope of Standard Fire & Special Perils Policy.
Q3. Briefly discuss section-wise scope of Householder’s Insurance Policy.
Q4. Discuss the scope of Money Bank Life Assurance Policy.
Q5. Write Short Notes on:
(a) Term Insurance Policy In Life.
(b) Permanent Total Disablement benefit in P.A. Policy.
(c) Money Insurance.
(d) Plate Glass Insurance.
ASSIGNMENT – ‘B’
Q6. Discuss the scope of Contractor’s All Risk Policy.
Q7. Enumerate coverages provided under Motor Insurance
Package Policy.
Q8. Write Short Notes on the following :
(a) Critical Illness Policy.
(a) Burglary Insurance.
(b) Delayed checked Baggage Section of OMP
(c) Pedal Cycle Insurance.
CASE STUDY
Q9. Mr. Mathew had a Personal Accident Insurance Policy for SUM-INSURED OF Rs. 5 lacs w.e.f. 01/04/08 to 31/03/09 covering Death, Permanent Partial and Total Disablement. Mr. Mathew while lying in his bed was about to sleep, lit the cigarette. This caused fire and trapped him. He suffered severe burns. He could not recover fully and his right hand was completely crumbled. He preferred claim under above policy.
You are required to tell :
(a) Whether claim is admissible
(b) If yes, then give reasons thereof and also ascertain the liability of the Insurer in this case.
ASSIGNMENT – C
| S. N | QUESTION | A | B | C | D |
| 1 | Mediclaim Policy covers | Hospitalization Expenses | Death Compensation | Domicilliary Medical Expenses | Disability Compensation |
| 2 | P.A. Policy covers | Health Risk | Life Risk | T.P. Loss | Accidental Death & Disability Risk |
| 3 | Life Insurance Policy can be taken upon the Life of | Human Beings | Pets | Birds | Cattles |
| 4 | Motor Insurance covers | D.G. Sets | Road Vehicles | Toy Trains | Motor Boats |
| 5 | Money insurance is given to | Householders | Commercial Establishments | Advocates | Students |
| 6 | Marine Transit Policy is meant for | Ship crew members | Ships | Persons going by ships | Goods in transit |
| 7 | Professional Indemnity Policy compensates Loss due to | Damage to professional properties | Compensations Being paid to the client | Low Business | Penalty Imposed by the Authority |
| 8 | Product Liability Insurance is issued to | Private clubs hosting dinners | Food & Supply departments of the State | Manufacturers producing the goods | Consumers using the product |
| 9 | In OMP claims are settled in | UK Pounds | Indian Rupee | US Dollar | Euro Dollars |
| 10 | Maternity Benefits under Mediclaim Policy can be covered under | Group Policy | Family Policy | Individual Policy | All of above |
| 11 | Motor Package Policy is | Compulsory with Liability Cover | Optional | Compulsory with P.A. Cover | Optional with Liability cover |
| 12 | Mediclaim Insurance covers | PA and Life Risk | P.A. Risk | Health Risk | Life Risk |
| 13 | ‘Blood Stock’ policy covers loss due to | Death of Blood donor | Deterioration of blood due to sudden change in temperature in blood bank | Death of patient | Death of Race Horse |
| 14 | Plate Glass Policy is compulsory with | Money Policy | Optional | Burglary Policy | Fire policy |
| 15 | Professional Indemnity Policy is not issued to | Engineers | Doctors | Farmers | Advocates |
| 16 | OMP is meant for | Engineers | Overseas Travellers | Inland Travellers | Doctors |
| 17 | Life Insurance Premium may consist of | Life Risk Cover and Savings Portion | Health Risk Cover Only | Personnel Accident Cover Only | Savings Portion Only |
| 18 | House holders policy does not cover | Theft | Loss of Profit | P.A. | Fire |
| 19 | Public Liability Insurance can be issued to | Industrial Units | Office owners | Individuals | All of above |
| 20 | In P.A. Policy compensation for loss of one limb or one eye is equivalent to | 25% of CSI | 50% of CSI | 75% of CSI | 100% of CSI |
| 21 | Burglary policy does not cover | Money in safe | Valuables in safe | Damage to property by Burglars | Money in transit |
| 22 | House Holders Policy is granted to | Office | Group | Factory | Individual |
| 23 | In Private car Motor Package Policy Maximum NCB is | 50% | 65% | 40% | 20% |
| 24 | In Motor ‘Legal Liability Only’ Policy compensation is given for Third Party | Disability Only | Death Only | Property Damage Only | All of above |
| 25 | Fire Policy may be extended to cover | T.P. Liability | Employees compensation | Loss of Profit | Burglary |
| 26 | Fire Insurance covers | Building Only | Stock Only | Life Risk | Building & Stock |
| 27 | Burglary Policy is given to | Residential Houses | Drivers | Travellers | Commercial Establishments |
| 28 | Mediclaim Policy covers Pre-Hospitalisation Expenses for | 10 days | 15 days | 25 days | 30 days |
| 29 | In Motor OD Claims Depreciation on Metal Parts is deducted @ | As per Age of the vehicle | 20% | 50% | 10% |
| 30 | Life Insurance Business is conducted by | GIC | LIC | IRDA | LIC & Private Life insurers |
| 31 | In Motor OD claims Depreciation on Rubber Parts is deducted @ | 40% | 20% | 50% | 30% |
| 32 | Public Liability Insurance covers | Damage to Third Persons | Loss of Profit | Damage to Self Property | Injury to self |
| 33 | In P.A. Policy TTD benefit can be extended | 4% of CSI per week | 3% of CSI per week | 2% of CSI per week | 1% of CSI Per Week |
| 34 | Fire Insurance Policy can be extended to cover | Earthquake | War | Nuclear Risk | Lightning |
| 35 | Fidelity Guarantee Policy covers loss due to dishonesty by | Relatives | Clients | Friends | Employees |
| 36 | ‘Key Clause’ in Burglary Policy refers to claim is payable only when | Burglars open safe by key handed over by insured at his own | Burglars forceably obtain keys from Insured | Burglars use duplicate key lying near safe | None of above |
| 37 | Directors and Officers Policy is issued to | IAS Officers | Directors of Corporate | Chartered Accountants | Film Directors |
| 38 | Motor (Liability Insurance ) Policy covers | P.A. Risk | Third Party Loss | Own Damage & Third Party Loss | Own Damage |
| 39 | Fire Insurance Policy covers | T.P. Liability | Fire Only | P.A. Risk | Fire & Allied Perils |
| 40 | House Holders Policy has | 2 sections | 5 sections | 10 sections | 3 sections |
