IC56 FIRE INSURANCE CLAIMS – 07

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Que. 1 : Q1) According to Condition 8 all benefits under the
policy shall be forfeited in which of the following circumstances?

   1.  a) The claim is fraudulent

   2.  b) The claim is supported by a false
declaration

   3.  c) Fraudulent means are used by the
insured or any one acting on his behalf

   4.  d) All of the above

Que. 2 : Q2) Which of the following are salient features of
the condition 9?

   1.  a) Reinstatement is at the option of the
insurer and the insured has no right to claim reinstatement

   2.  b) Reinstatement shall not be exact or
complete but shall be in reasonably sufficient manner

   3.  c) It is the duty of the insured to
furnish, at his expense,the insurer with all plans and such other particulars
as may be required

   4.  d) All of the above

Que. 3 : Q3) Which of the following are role of insurer?

   1.  a) Insurer should take timely action in
respect of claims

   2.  b) Insurer should take timely action in
respect of Surveyor’s appointment and submission of report

   3.  c) Repudiation letter from the insurer
should be clear, reasoned and transparent

   4.  d) All of the above

Que. 4 : Q4) If Total Sum insured is more than the value at
the time of loss. Then calculate Total Loss. [Mark: 1]

   1.  a) X Pays =RS.3,70,000 , Y Pays =
Rs.80,000

   2.  b) X Pays =RS.2,70,000 , Y Pays =
Rs.1,80,000

   3.  c) X Pays =RS.3,00,000 , Y Pays =
Rs.2,50,000

   4.  d) X Pays =RS.2,50,000 , Y Pays =
Rs.2,00,000

Que. 5 : Q5) Express condition 9 in a fire insurance policy
provides?

   1.  a) Forfeiture of policy benefits

   2.  b) Pro-rata Average

   3.  c) Re-instatement of replacement of
property

   4.  d) Contribution

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