Page 446 - IC38 GENERAL INSURANCE
P. 446
Answers to Test Yourself
Answer 1
The correct option is II.
Professional settlement of claims does not involve approaching a claim with
prejudice.
Answer 2
The correct option is I.
A claim needs to be notified as soon as reasonably possible.
Answer 3
The correct option is II.
Investigation tries to determine the validity of the claim whereas assessment is
more concerned with the cause and extent of the loss.
Answer 4
The correct option is III.
IRDAI is the licensing authority for surveyors.
Answer 5
The correct option is IV.
Report from Meteorological Department is most likely to be requested while
examining a cyclone damage claim.
Answer 6
The correct option is III.
Under the principle of subrogation the insurer can assume the rights of the
insured in order to recover from a third party the loss paid under a policy.
Answer 7
The correct option is IV.
If the insurer decides that a certain loss is not payable because it is not covered
under the policy then such matters will be decided in the Court of Law.
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