Page 69 - Ebook IC S01
P. 69
Survey And Loss Assessment IC-S01
A scheduled type of policy may be divided into following sections :-
a. The heading
b. The preamble or recital clause
c. Operative or insuring clause
d. Schedule
e. Attestation our signature clause
f. Conditions
In absence of any express condition the contract of insurance would be subject to
implied conditions which relate to
a. Utmost good faith
b. Insurable interest
c. Existence of subject matter
d. Identification of subject matter
Express and implied conditions can be classified as
a. Conditions precedent to insurance
b. Condition subsequent to insurance
c. Conditions precedent to liability
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