Fire and Consequential Loss Insurance - IC 57 Exam Study Notes

Fire Policy is drafted based on information furnished in Proposal Form and Cover note which is replaced by the Policy.
The policy Schedule provides for all individual details of the insurance contract.
The format of policy schedule varies among the insurers. The format provides for individual details of the policy which may be considered to fall under three categories of data: i. Identification details, ii. Risk Description, iii. Occupancy-wise Net Rate Data
An endorsement has the same basic information as is found in the policy format. An endorsement alteration usually affects part of the policy only.
Renewal Notice is generally issued to the insured 30 days in advance of the expiry date of the policy and it is purely a reminder as a matter of business courtesy.

Important Points for IC 57 - Fire and Consequential Loss Insurance Exam