Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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Endorsements required - Variations /changes in sum insured,Change of insurable interest by way of sale/mortgage,Extension of insurance to cover additional perils / extension of policy period, Change in risk e.g. change of construction or occupancy of the building in fire insurance, Transfer of property to another location, Cancellation of Insurance, Changes in Names or address
A householders insurance policy only provides coverage on losses incurred to the insureds property from hazards or events named in the policy. The perils covered will be clearly spelt out (Named Perils Insurance Policy)
Householders insurance covers the house structure and its contents against fire, riots, bursting of pipes, earthquakes etc. Apart from the structure, it covers the contents against burglary, housebreaking, larceny and theft
Jewelry whilst being worn or kept in locked safe can also be insured under householders insurance. Cover is also given for antiques and works of art.
Householders insurance also provides coverage for loss of personal baggage, electrical and mechanical failure of domestic and electronic appliances
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