Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points
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Fidelity guarantee - Covers risks related to dishonesty, fraud and embezzlement by employees and protects employers from loss of cash and securities.
Overseas medical insurance - Covers medical expenses incurred while travelling abroad
Workmen's compensation insurance - Covers compensation that is to be paid by the employer to the employee for death or disablement or injuries, as per the Workmen's Compensation Act 1926, for accidents while at work
Engineering insurance - This includes risk covers like risk cover for contractors in civil engineering projects, erection of electrical plants, breakdown of machinery and its consequential loss of profits etc.
Boiler and pressure plant - Cover damage (other than by fire) caused by explosions (boilers or pressure plants) to the plant, and to surrounding property of the insured and to third parties.
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