Page 309 - Misc Ebook IC 78

Miscellaneous Insurance

(iv) Position Policy - This is similar to collective policy
with the difference that instead of using the names.
The ' position' is guaranteed for a particular amount,
so that a change in the person holding the position
does not affect the cover.

It is to be noted that the liability of insurance in
respect of each position is limited to the amount
guaranteed for the position, irrespective of the
number of persons working in that position. Here
also, instead of individual guaranteed amounts a
single amount can be chosen and 'Floated.'

(v) Blanket Policy - This policy covers the entire staff
without showing name or position. This policy is
suitable for an employer with a large staff and who
carries adequate enquiries about his employees
antecedents before recruitment. Those references
have to be made available to the insurers in the event
of a claim.

(vi)Excess floating policy - This is a combination

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