Page 142 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance
n Applicable warranties and clauses with identification numbers
n Total Sum Insured - Total Premium - Special Discount

Occupancy wise data provides for:

n Risk Code / Rate Code
n Rates for Building, Contents, etc.
n Discount CED (Claims Experience Discount) and FEA (Fire

Extinguishing Appliances)
n Net Rate

Endorsements

If any changes are required to be made in insurance policies it is made
through endorsements.

Common endorsements

n Change in the name of the insured i.e. change in interest.
n Incorporation of a Bank's name or of a financial institution.
n Change in the address or location of the property insured.
n Alteration in the risk i.e. a change in its occupation or construction.
n Variations in the sum insured. -Alteration in the period of insurance.

Examples of endorsements are:

Additional Interest

"It is hereby declared and agreed that K. C. Shah of 17, of Sir. P. M.
Road, Bombay is also interested in the insurance by this policy as
Mortgagee."

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