Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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In case of motor insurance, the certificate of insurance or cover note is considered as the evidence of existence of a valid insurance by police authorities and R.T.O.
In Motor Insurance, Act only Policy Form covers Act Liability.
The Contractors All Risks (CAR) Policy protects the interests of contractors and principals in respect of civil engineering projects, like buildings, bridges, tunnels, etc.
The Erection All Ricks Policy (EAR) policy is concerned with erection / installation of plant, machinery and equipment and structures involving no or very little civil engineering work.
The Advance Loss of Profits (ALOP) Policy covers financial consequences of a project being delayed because of accidental damage to the project materials.
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