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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

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