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Questions and Answers
Which type of policy can be issued with permitted 'Add-on' covers?
Which type of policy can be issued with permitted 'Add-on' covers?
- Only Special Perils Policy
- Only Standard Fire Policy
- Only Standard Fire and Special Perils Policy (correct)
- Both Standard Fire and Special Perils Policy
What should Policy(ies) covering Buildings and/or contents show?
What should Policy(ies) covering Buildings and/or contents show?
- Individual amounts for each item without blockwise separation
- Combined amounts for all types of contents
- Blockwise separate amounts on Building, Machinery, Stock, and Furniture (correct)
- Only the total sum insured
As per the text, when can the Storm, Tempest, Flood, and Inundation perils be excluded from the policy?
As per the text, when can the Storm, Tempest, Flood, and Inundation perils be excluded from the policy?
- At any time during the Policy period
- At renewal of the Policy only
- At the discretion of the Insured
- At inception of the Policy only (correct)
What shall the general exclusions include when the Storm, Tempest, Flood, and Inundation perils are deleted from the scope of the policy?
What shall the general exclusions include when the Storm, Tempest, Flood, and Inundation perils are deleted from the scope of the policy?
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As per the text, what is permissible when excluding the Storm, Tempest, Flood, and Inundation perils from the policy?
As per the text, what is permissible when excluding the Storm, Tempest, Flood, and Inundation perils from the policy?
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