Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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Group III: Distilleries, Manmade yarn / fibre manufacturing, paper and cardboard mills.
Group IV: Celluloid goods manufacturing, Fertilizer manufacturing, Match factories, etc.
The rates are the lowest for Group I risks and increase scale for the other groups
Product liability policies cover liability of the insured related to defect in the product causing death, bodily injury or illness or even damage to the property of third parties.
Professional indemnities are designed to provide insurance protection to professional people such as doctors, solicitors, chartered accountants, architects etc against their legal liability to pay damages arising out of negligence in the performance of their professional duties.
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