IC38 GENERAL INSURANCE AGENT EXAM - Study Notes

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  • Erection All Risks (EAR) Policy - suitable for the principal or contractors of a project being erected as the project is exposed to various external risks during the construction
  • Machinery Breakdown Policy (MB) - covers unforeseen and sudden physical damage by mechanical or electrical breakdown by any cause to the insured property: While it is at work or at rest, While being dismantled for cleaning or overhauling, During cl
  • Boiler and Pressure Plant Policy - covers boilers and pressure vessels, against damage, other than by fire, to the boilers and / or other pressure plant and to surrounding property of the insured and legal liability of the insured on account of bod
  • Machinery Loss of Profits (MLOP) Policy - suitable for industries where interruptions or delays as a result of machinery breakdown or boiler explosion result in huge consequential losses
  • Deterioration of Stock Policy - suitable for the owner of the cold storage (individual or a cooperative society) or those who take the cold storage on lease or hire for storage of perishable commodities

IC38 General Insurance

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