Non-Life Insurance I (Fire, Marine & Motor — DU B. Voc – Banking Operations Previous Year Question Papers

AND INSURANCE) a) What is a Non-Life Insurance Contract? State any 6 differences between Life nsurance and Non-Life Insurance Policies. (7 Marks) ) Discuss the purpose and need of Non-Life Insurance sector in India. (8 Marks a) How liberalization of the Indian economy has lead to customer centricity as a driver of innovation in Non-Life Insurance in India? (7 Marks) ) What are the features of a Fire Insurance Policy? Write its need and importance. (7 ) A Standard Fire and Special Perils Policy has certain coverage, exclusions, add-o overs and conditions attached to it. Elaborate about the same. (8 Mark a) The claim settlement process for Fire Insurance is quiet tedious. Comment on the same with the help of claim settlement procedure for Fire Insurance in India. (7 b) There are certain Fire Insurance Policies available especially for non-fixed assets. Explain any four of them. (8 Marks) a) What are the different types of losses covered under Marine Insurance? (7 Marks) b) What is Marine Insurance? Discuss its various features and nature of contract in detail. a) What is the other name for Non-Life Insurance? What are the major Principles of Insurance applicable to the same? (7 Marks) b) Which Principle of Insurance is applicable only to the Non-Life Insurance and not Life Insurance? Give reasons for your answer. a) What is Third Party Liability in Motor Insurance? What does it cover? What are its benefits and limitations? (7 Marks) What are the key benefits of Motor Insurance? Also, discuss the important aspects to consıder while taking and settling a Motor Insurance Claim. (8 Marks)