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प्रश्न
Write Short Note on the following:
Types of fire insurance policies
उत्तर १
The following are some of the various types of fire insurance policies:
i. Valued policy - Under this policy, the insurer is liable to pay the insured the value stated in the policy, irrespective of the actual value of loss suffered by the insured.
ii. Specific policy - Under this policy, the insurer is liable to make the payment for the loss incurred for a certain specified amount. In case the loss is greater than the amount specified in the contract, the insured has to bear that extra loss incurred.
iii. Floating policy - This policy is usually taken by big businessmen to cover the risk of fluctuations in the stock of goods held in different stations, ports, etc.
iv. Reinstatement policy - In this policy, the insurer can re-establish the destroyed property or goods destroyed by fire instead of making payments in cash.
उत्तर २
The following are the different types of fire insurance policies:
i. Valued policy - Under this policy, the insurer is liable to pay the insured the value stated in the policy, irrespective of the
actual value of loss suffered by the insured.
ii. Specific policy - Under this policy, the insurer is liable to make the payment for the loss incurred for a certain specified amount. In case the loss is greater than the amount specified in the contract, the insured has to bear that extra loss incurred.
iii. Floating policy - This policy is usually taken by big businessmen to cover the risk of fluctuations in the stock of goods
held in different stations, ports, etc.
iv. Reinstatement policy - In this policy, the insurer can re-estalish the destroyed property or goods destroyed by fire instead of making payments in cash.
v. Average policy - In this type of policy, the insurer is liable to pay only that percentage of the loss for which the insurance is taken.
vi. Comprehensive policy - This policy covers all types of risks, including risk from fire, theft, burglary and riot.
vii. Excess policy - This policy is taken to seek protection against price fluctuations in the market. Under this policy, two policies are taken: one is for a minimum amount beyond which the price will never fall and the other one is for a maximum amount by which the price is expected to fluctuate.
viii. Blanket policy - In this policy, all the fixed as well as current assets lying at different places are covered in one single policy.
संबंधित प्रश्न
Select the proper option from the options given below and rewrite the completed sentence.
Insurable interest must exist in ________.
Select the proper option from the options given below and rewrite the completed sentence.
In India railways are owned and managed by ________.
Select the proper option from the options given below and rewrite the completed sentence.
Door to door services is offered by ________.
Match the correct pairs:
| Group “A” | Group “B” | ||
| a. | RBI | 1 | Recurring deposit account |
| b. | Overdraft | 2 | 12 hours service |
| c. | Saving account | 3 | Withdrawals after fixed period of time |
| d. | ATM | 4 | Central Bank |
| e. | Fixed deposit account |
5 | Current Account |
| 6 | Salaried people | ||
| 7 | 24 hours service | ||
| 8 | Commercial bank | ||
| 9 | Cash credit | ||
| 10 | Withdrawal before fixed period of time. |
Match the correct pairs :
| Group “A” | Group “B” | ||
| a. | Life Insurance | 1 | Claim made by insured |
| b. | Mitigation of loss | 2 | Perishable goods |
| c. | Premium | 3 | Insurable interest |
| d. | Cold storage | 4 | Maximum loss |
| e. | Warehousing | 5 | Transfer of goods from one place to other |
| 6 | To minimise the loss | ||
| 7 | Imported goods | ||
| 8 | Principle of indemnity | ||
| 9 | Storage of goods | ||
| 10 | Payment made by policy holder |
Match the correct pairs:
| Group “A” | Group “B” | ||
| a. | Road transport | 1 | Government owned |
| b. | Rail transport | 2 | Co-operative societies |
| c. | Air transport | 3 | Self employed |
| d. | Postal department | 4 | Owned by private companies |
| e. | Courier services | 5 | Door to door service |
| 6 | Owned by individuals | ||
| 7 | Costliest means of transport | ||
| 8 | Huge carrying capacity | ||
| 9 | Difficulty in transport | ||
| 10 | Cheapest means of transport |
Write a word or phrase or a term which can substitute each one of the following:
The account suitable for salaried people.
Write a word or phrase or a term which can substitute the following:
Overdraft facility is given to a certain definite account holder.
Write a word or phrase or a term which can substitute the following:
An account where fixed amount is kept for a specific period.
Write a word or phrase or a term which can substitute the following:
The policy under which cargo is insured for a specific period & voyage.
Write a word or phrase or a term which can substitute the following:
Means of transport carrying bulk and heavy goods for international trade.
Distinguish between the following:
Rail Transport & Air Transport
Write Short Note on the following:
Types of marine insurance policies
Write Short Note on the following:
Road transport
Write Short Note on the following:
Rail transport
Write Short Note on the following:
Other modes of transport
Answer the following question in short:
What are the agency functions of banks?
State with reasons whether the following statement is True or False.
Transport is useful in raising standard of living.
