Page 50 - Insurance Times December 2019

to the proposed standard health product. A cash prize of 5. Claims under Health Insurance Policies including travel
Rs 10,000 has been earmarked for the proposer of the and personal accident covers;
selected name of the standard product along with a 6. Claims under Workmen’s Compensation/ Benefit
certificate of appreciation by Chairman, IRDAI. Suggestions policies under the Employees Compensation
may please be forwarded to the email id: (Amendment) Act, 2009 or similar Act.
health@irdai.gov.in by 10th December, 2019. 7. Claims under public liability policies, including third
party liability, Professional indemnity, products liability
Suresh Mathur and personal liability except where liability arising out
Executive Director of property damage or defect to physical property/
goods are involved.
Exemption of classes of claims under 8. Claims under Aviation Hull insurance policies and Cyber

sub-section (10) of Section 64UM of the insurance policies.
Insurance Act, 1938 9. Claims under Money insurance including cash in transit
policies.
Ref. No:IRDAI/SUR/ORD/MISC/ 197/11/2019 10. Claims under All risks and Burglary insurance policies
Date: 19-11-2019 on personal effects and jewelry.
11. Claims under Race Horses insurance policies and Live-
Whereas, in relation to the classes of claims mentioned in stock insurance policies.
the Schedule hereto annexed, the Authority is satisfied that 12. Claims in respect of loss or damage to crop, trees,
it is customary to entrust the work of survey or loss plantations and forests which are covered by
assessment to any person other than a licensed surveyor Government sponsored Schemes.
or loss assessor, or it is not practicable to make any survey 13. Claims in respect of loss or damage to tea in transit
or loss assessment. from gardens in India.
14. Claims under policies of the nature of Bonds and
Now, therefore, in exercise of the powers conferred by sub- Guarantees including fidelity guarantees, Bankers’
section (10) of Section 64UM of the Insurance Act, 1938, Blanket policies, credit insurance, and under policies
(4 of 1938) the Authority hereby exempts the classes of insuring contractual liability.
claims mentioned in the said Schedule from the operation
of the said section. 15. Claims in respect of which the amount of claim is
determined by recognized and well-established
conventions or under agreements.
This Order will supersede all other Orders issued earlier in
this regard. 16. Claims, the amount of which has been adjudicated
upon or decreed by courts.
SCHEDULE
(Sujay Banarji)
1. Claims under policies in respect of which documentary Member
evidence of the value of loss is available in the form
of Police Reports, short-landing or non-delivery PSU Promotional Exam Sample Questions
certificates issued by Port Trusts, Railways or other Series 1 - Marine Insurance
public or semi-Government authorities, claims in
respect of which excise authorities give a certificate for 1. b. 1963. 10. e. All of these.
dutiable items and sling loss claims certified by 2. e. All of these. 11. e. All of these.
Harbour Authorities. 3. c. It is the proximate 12. d. All of these.
2. Claims of General Average under marine policies. in efficiency. 13. c. Representations.
4. c. Principle of aban- 14. d. All of these.
3. Claims of total loss or constructive total loss under donment. 15. b. Fact.
agreed value insurance policies or valued policies as 5. d. All of these. 16. a. All are correct.
defined in Section 29 of the Marine Insurance Act, 6. c. Both Insurer and 17. c. Assured, underwriter.
1963 (11 of 1963).
Insured. 18. c. 35 to 43.
4. Claims under policies of motor vehicle insurance 7. b. Section 19 to 23. 19. e. All of these.
wherein the claim is on account of theft or injury/death 8. c. Either of these. 20. d. Only a and c.
to third parties. 9. e. All of these.

50 The Insurance Times, December 2019