Page 144 - IC38 GENERAL INSURANCE

m) If certain terms and conditions of the policy need to be modified at the time
of issuance, it is done by setting out the amendments / changes through a
document called endorsement.

n) The most important rule of construction is that the intention of the parties
must prevail and this intention is to be looked for in the policy itself.

o) Money Laundering means converting money obtained through criminal means
to legal money and laws to fight this have been introduced worldwide and in
India

p) An agent has a responsibility to follow the Know Your Customer guidelines
and obtain documents as required by these guidelines.

Key Terms
a) Policy form
b) Advance payment of premium
c) Certificate of Insurance
d) Renewal notice
e) Warranty
f) Condition
g) Endorsement
h) Money Laundering
i) Know Your Customer

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