Important Points for IC 57 - Fire and Consequential Loss Insurance Exam
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In a proposal form, declaration clause can be used to convert the answers given by the proposer to become continuing warrantees.
The main objective of risk inspection report is to provide the underwriter with a complete picture of the risk so that he is enabled to determine the rates of premium and the terms of insurance.
Before the policy document is issued, cover note is issued by insurers as an evidence of insurance protection.
In the format of policy schedule, ?description of property? is included under 'risk description'.
Name and address of insured and insurer are included under 'identification details' of policy schedule.
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