Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
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The underwriting practice followed by the insurer, the administrative mechanism put in place by the insurer, the discipline in addressing various issues conncected to reinsurance etc., all will go in deciding reinsurance arrangements and premium quote by Reinsurer.
The Group Insurance Systmems and procedure generally followed allows providing margin in the review for unreported claims to proceed further. When it comes to reinsurance normally the process in on actual basis only.
The aggregate amount received as the employers and the employees contributions to the Fund shall be credited to an account to be called the 'Provident Fund Account'.
The Payment of Gratuity Act, 1972 provides for the payment of gratuity to workers employed in every factory, shop and establishments or educational institution employing 10 or more persons on any day of the preceding 12 months.
In case the employee is not paid the due amount of gratuity he shoul apply, ordinarily within thirty days, in Form-1 to the employer.
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