IC 11 - Practice of General Insurance Exam Study Notes

The Motor Vehicles Act 1988 covers the conditions relating to the motor certificate.
The insurance Act, 1938, Section 2 (13A) defines Marine Insurance business as 'the business of effecting contracts of insurance upon vessels of any description, including cargoes, freights and other interests which may be legally insured, in or in relation to such vessels, cargoes and freights, goods, wares, merchandise and property of whatever description insured for any transit by land or water, or both, and whether or not including warehouse risks or similar risks in addition or as incidental to such transit, and includes any other risks customarily included among the risks insured against in marine insurance policies'.
A standard fire and special perils policy provides protection against loss due to fire and specified perils.
A standard fire and special perils policy can be modified and customised to suit a customer's requirement.
Marine insurance policies are of 2 types: marine hull insurance and marine cargo insurance

Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points