Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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The fire policy for commercial risks covers the perils of Fire ? Lightning; Explosion / implosion, Riot strike and malicious damage, Impact damage ; Aircraft damage, Storm, tempest, cyclone, typhoon, hurricane, tornado, flood and inundation
The fire policy for commercial risks covers the perils of Earthquake, Subsidence and landslide including rock slide, Bursting and overflowing of water tanks, apparatus and pipes, Missile testing operations, Leakages from automatic sprinkler installation and Bush Fire
Fire Policy Exclusions - Perils that are covered by other policies in general insurance like Machinery Breakdown, Business Interruption
Fire Policy Exclusions - War and War like activities, Nuclear Perils, Ionisation and Radiation, Pollution and Contamination loss
Fire Policy - ADD- ON COVERS - earth quake, fire and shock; deterioration of stock in the cold storages following power failure as a result of insured peril, additional expenditure involved in removal of debris, architect, consulting engineers fee over and above the amount covered by the policy, forest fire, spontaneous combustion and impact damage due to own vehicles.
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