Category: IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 01

Que. 1 : Q1) A machine worth Rs.40,000/- insured for Rs.30,000/- under Fire Policy. It was damaged due to fire and the amount assessed in Rs.16,000/- The claim payable is:    1.  a) Rs.30,000/-    2.  b) Rs.12,000/-    3.  c) Rs.16,000/-    4.  d) Rs.40,000/- Que. 2 : Q2) The minimum retention of premium under fire declaration policy is ___% of the annual premium […]