Page 144 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

Question & Answers

Q1. What is a proposal form. What information
it must contain

Ans. The proposal form is a form in a specified uniform
format. The form contains the following details :

(A) Proposer - The proposal form contains following details
about the proposer:
(i) Name and address, phone number, fax numbers,
email id etc.

(ii) Business of Proposer.

(iii) Paid up Capital of Firm.

(iv) Name of parties who have insurable interest
including financial institutions if any.

(v) Location of risk to be covered.

(vi) Period of insurance.

(vii) Past history of insurance rejection or acceptance
with conditions.

(viii) Premium and Claim details for the past 3 policy
periods.

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