Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
Page 11 Of 52
Go to:
Act only policy form covers exactly the liability as required to be covered under the MV Act.
Package policy form covers Own Damage Losses and Act Liability. It also has add on covers. Different insurers have different add on covers and rates of premium.
Under liability insurance there are four major legal liability policies: (a) public liability, (b) product liability, (c) professional indemnity and (d) employer's liability.
The purpose of personal accident insurance is to pay fixed compensation for death of disablement resulting for accidental bodily injury. It is not a strick indermnity policy but a benefit cover.
Health insurance provides for reimbursement of hospitalisation expenses for illness suffered or accident sustained during the policy period.
MODELEXAM® 
www.realsoftinfoplan.com