Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points
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Underwriter decides - Whether insurance can be given or not, If given, what will be the terms of the policy, What will be the amount of premium to be charged
Insurance policy contains - Endorsements, Subject matter of insurance, Exclusions, Sum assured, Tenure of the policy
Conditions for insurance policy - Conditions precedent, Conditions subsequent, Conditions precedent to liability
Conditions precedent - require the insured to disclose any material facts
Conditions subsequent - require notification of changes while the policy is vaild
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