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Unit 13: General Insurance
Self Assessment Notes
Fill in the blanks:
11. ............................ Policies are useful to businesses, which face frequent fluctuations in stock
quantity or value.
12. The .............................. advisory committee has prescribed three types of fire coverages
viz., Policy A, Policy B, and Policy C.
13. Premiums rating depends on the type of ..............................-whether industrial or otherwise.
14. In Reinstatement Value Policies, the .............................. of claims is on basis of reinstatement
value.
15. ................................. or inundation should not only be understood in the common sense of
the terms, i.e., flood in the river or lakes, but also accumulation of water due to choked
drains would be deemed to be flood.
Task Discuss the policies for stock.
Did u know? In declaration policy the minimum sum insured is Rs. 1 crore.
Notes For overall protection to the business and its profitability, consequential policy is
necessary in addition to the fire policy.
Case Study Customer Case Studies – Aviva Life Insurance
A little about Aviva.
Aviva Life Insurance is a joint venture between Dabur - one of India's oldest and largest
groups of companies - and Aviva. Aviva Plc is UK's largest insurance group and the
worlds oldest insurance group, with a history dating back to 1696. Today, it is the fifth
largest insurer worldwide, with 30 million customers and ?40 billion assets under
management.
Contd....
LOVELY PROFESSIONAL UNIVERSITY 283
