Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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For additional coverage like money, baggage, personal accident the premium would depend on the sum insured and the covers opted for
Motor insurance must be taken by a vehicle owner whose vehicle is registered in her / his name with the Regional Transport Authority in India
The Motor Vehicles Act, 1988 - Mandatory for every owner of a vehicle plying on public roads, to take an insurance policy,to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property
A Certificate of Insurance must be carried in the vehicle as a proof of such insurance
Third-Party Insurance - An insurance policy purchased for protection against the legal actions of another party. Is called Liability Insurance as well.
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