Page 170 - Motor Insurance Ebook IC 72

The Insurance Times

issuance of a policy. It is valid for 15 days. If due to any
reason, the Insurer is not able to issue a policy during
that period, the validity of the Cover Note shall be
extended for further period of 15 days, at a time, but in
no case the total period of validity of the Cover Note
shall exceed two months.

Where a Cover Note is not followed by Policy of
Insurance within the prescribed time limit, the Insurer
is required, within seven days of the expiry of the period
of the validity of the Cover Note, to notify the fact to
the Registering Authority in whose records the vehicle
to which the Cover Note relates has been registered.
The cover note is issued only in the form prescribed by
the Tariff. Cover note is not a stamped document.

b) Cancellation of Certificate of Insurance - Tariff
provides the following in this regard:
a) Whether any alteration is made in the policy

affecting the information shown on the Certificate
of Insurance, the Certificate of Insurance must be
returned to the Insurance Company by the Insured
for cancellation, and a new Certificate must be
issued. Refund in the premium will be allowed
subject to there being no claims under the policy.

b) Whenever the period of cover made under a Policy

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