Page 139 - Fire Insurance Ebook IC 57
P. 139
The Insurance Times
Cover note
Pending preparation of the policy, insurers provide evidence of
insurance protection through the issue of a Cover Note.
The Schedule contains the following items:
3 Name and address of the proposer
3 Brief description of the property insured
3 Sum insured
3 Period of Insurance
3 Risks covered.
3 Rate of premium.
3 Premium
3 Serial number of the cover note
3 Date of Issue.
3 Premium collection No. and date.
3 Development Officer Code
3 Agent Code.
Warranties and clauses
n All risks are not similar. The fire policies incorporates suitable
warranties and clauses depending upon the condition of the
risk.
n All fire policies incorporate warranties. Some warranties are of a
general nature and common to a majority of policies
n Warranties are inserted for a specific purpose.
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