Page 123 - Misc Ebook IC 78

Miscellaneous Insurance

Q9.(i) A money policy was issued with per carrying
limit of Rs.25 lacs and the estimated annual
carrying limit was at Rs. 3 crores. The policy
period was 01/04/06 - 31/03/07. A robbery
took place when the money was in transit
between the bank and insured's office and
Rs.20 lacs were lost. It was however noticed
the actual transit till the previous day of the
loss was Rs.3.20 crores. What would be the
amount of claim payable?

(ii) A Personal accident policy has been issued
for Rs. 2 lacs. It is in fact the 3rd renewal. A
claim occurs for temporary total
disablement of six weeks. What is the amount
of claim payable?

(iii) A Burglary Declaration policy has been
issued for a sum insured of Rs.1 crore.
Premium rate of 0.1%. 12 declarations were
received totaling Rs.4.8 crores. What would
be the amount of refund, if any?

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