Page 400 - Motor Insurance Ebook IC 72

The Insurance Times

B. Vehicle Subject to Hypothecation Agreement:
Policies and Certificates of Insurance are to be
issued in the name of Registered Owner only and
insurance in the joint names of the Registered
Owner and pledgee is prohibited. If pledgee's
interest is to be protected it should be done by the
use of Endorsement IMT - 7.

For the purpose of the Personal Accident cover for
the Owner - Driver granted under the policy, the
Registered Owner named in the policy would
continue to be deemed as the Owner-Driver subject
to conditions of the policy relating to this cover.

C. Vehicle Subject to Hire Purchase Agreement:
Policies and Certificates of Insurance are to be
issued in the name of Hire only and insurance in the
joint names of the Hirer and the Owner is prohibited.
If Owner's interest is to be protected it should be
done by the use of Endorsement IMT - 5.

For the purpose of the Personal Accident cover
for the Owner - Driver granted under the policy,
the insured named in the policy would continue to
be deemed as the Owner-Driver subject to
conditions of the policy relating to this cover.

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