III IC-104 case studies
III IC-104 · Put your knowledge to work in context.
IC-104 sits within the Professional Examinations stream of the Insurance Institute of India, whose published subject ladder spans Licentiate, Associateship and Fellowship levels alongside Specialised Diploma Courses and Jointly Offered Courses. Candidates typically encounter IC-104 as a subject code in that professional programme, taken by working insurance professionals and students building toward institute qualifications. The III IC-104 case studies are 5 cases and about 4,853 words.
1Revival, Suppression and the Three-Year Clock
Rakesh Mehta, 41, bought a ₹50 lakh, 25-year term plan in March 2019 and paid three annual premiums before the policy lapsed in April 2022. He applied for revival in November 2023, paying ₹1.42 lakh in arrears and interest.
1,017 words, about 5 min2Group Mediclaim: Member's Omission and the Waiting Period
Sunrise Auto Components insures 1,200 employees under a group mediclaim policy (April 2024 to March 2025) with a ₹5 lakh family floater, a 30-day initial waiting period and a two-year pre-existing disease (PED) waiting period that is waived for employees covered by the previous employer's group policy without a break. The master proposal form asks the employer to disclose 'any known chronic or ongoing conditions among the covered population', but individual members fill only an enrolment card that asks 'any chronic illness in the last two years?'.
1,004 words, about 5 min3Fire Loss, Average Clause and Contribution Between Insurers
Kaveri Polymers runs a moulding unit in Pune. Its property policy with Insurer A, running July 2024 to June 2025, covers plant and machinery, stock and building on a reinstatement value basis for a sum insured of ₹8 crore, with an average (under-insurance) condition and a fixed ₹10 lakh excess on each claim.
955 words, about 5 min4Motor Third-Party Death Claim Where the Driver's Licence Had Expired
At 21:40 on a January 2024 night a 12-tonne goods carriage insured with National Mutual ran over Suresh Kulkarni, 34, a self-employed fabricator earning about ₹45,000 a month, who was walking on the shoulder of NH-48. He died the same night, survived by his wife, two children aged 8 and 4, and his mother.
891 words, about 4 min5Reinsurance Programme Design After a Catastrophe Model Reveals a Capital Gap
Bharat General Insurance has gross written premium of ₹2,400 crore and a net worth of ₹310 crore. Property and engineering business has grown 28% in two years and now forms 45% of the book.
986 words, about 5 min