Page 201 - Misc Ebook IC 78

Miscellaneous Insurance

available to associations, clubs etc who find it convenient
to cater to their members. The essential requisite for a
group policy is some common relationship among the
persons to be insured and a central point for
administration of the policy scheme.

Under the group policy, the term 'insured' is applied to
the employer, association etc, whereas the term 'insured
person' is applied to the people for whose benefit the
insurance is effected. Claims are to be paid to the
insured, the employer, association etc, and no individual
insured person has the right to act against the insurer.

There are 2 types of policy. They are:
(a) Employer and Employee Relationship - These

policies are granted to firms, associations etc to cover
Named as well as Un-named employees.
(b) No Employer-Employee Relationship - These
policies are granted to Associations, Societies, Clubs,
etc to cover Named members and Members not
identified by name.

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