Page 154 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

The contents include the following :
(i) Operative clause.
(ii) Schedule - Containing Name and address of the

proposer, Brief description of the property insured,
Sum insured, Period of Insurance, Risks covered,
Rate of premium, Premium (provisional, if rates are
yet to be ascertained), Serial number of the cover
note, Date of issue, Premium collection No and date,
Development Officer Code, and Agent Code.
(iii) Clause binding the proposer to the terms and
conditions of the policy.

d. Warranties and clauses-
(i) For the preparation of the policy schedule it is
necessary to examine the warranties and clauses
attached to the policy.
(ii) All fire policies incorporate warranties. Some are
general and common to a majority of policies, e.g,
construction warranty.

e. FEA warranty - This warranty states that those Fire
Extinguishing Appliances for which discount is offered
has to conform to the Tariff Advisory Committee

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