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Category: IC74 LIABILITY INSURANCE – 18

IC74 LIABILITY INSURANCE – 18

Que. 1 : Q1) As per the provision of sections 3 of the public liability insurance Act,1991, if a person suffers a fatal accident, then how much is the maximum amount of relief payable?

   1.  a) Rs.25000

   2.  b) Rs.50000

   3.  c) Rs.75000

   4.  d) Rs.100000

Que. 2 : Q2) ________ to tangible property including consequential loss. Al such loss is deemed to occur at the time of physical injury.

   1.  a) Personal and advertising injury

   2.  b) Damage

   3.  c) Property damage

   4.  d) Injury

Que. 3 : Q3) Which policy has the special exclusions in the Product Liability Policy relate to product damage, product repair or replacement product recall, product guarantee and product performance?

   1.  a) Comprehensive policy

   2.  b) Market pools

   3.  c) Pollution coverage

   4.  d) Products Guarantee policy

Que. 4 : Q4) If claims are paid on behalf of a retailer or distributors, recovery may be possible from the manufacturer who is primarily responsible for the defect in the product and recoveries under reinsurance arrangement. this is known as:

   1.  a) Contribution condition

   2.  b) Proximate clause condition

   3.  c) Good faith condition

   4.  d) Subrogation condition

Que. 5 : Q5) What is unlawfully touching or perpetrating bodily harm to a person by another person?

   1.  a) Slander

   2.  b) Libel

   3.  c) Assault

   4.  d) None of these