III IC-22 case studies

III IC-22 · Put your knowledge to work in context.

IC-22 is a professional examination paper of the Insurance Institute of India (III), the Mumbai-based body that runs the Licentiate, Associateship and Fellowship programmes alongside specialised diplomas and the regulatory examinations for agents, corporate agents, brokers and surveyors. Candidates typically encounter it while working through the III professional examination stream, either as part of a structured Associateship pathway or as a stand-alone subject chosen to strengthen a technical specialism. The III IC-22 case studies are 5 cases and about 5,634 words.

The Godown Fire: Two Policies, One Waiver

Ravi Enterprises stores cotton yarn in a godown in Coimbatore. Before the monsoon it insured the same stock twice.

1,077 words, about 5 min 2

Smoking History, Revival, and the Incontestability Clock

Anita Rao, 41, a school principal earning Rs 9 lakh a year, bought a 30-year pure term plan with a sum assured of Rs 1.5 crore in January 2021. In the proposal she answered 'No' to the questions on tobacco use and on any consultation or treatment in the last five years.

1,129 words, about 6 min 3

Marine Open Cover: Late Declaration and the Delay Exclusion

Coastal Autoparts of Chennai ships 400 cartons of machined components to Hamburg on CIF terms, insured under a monthly-declaration marine open cargo policy on Institute Cargo Clauses (A), on 110% of CIF value, warehouse to warehouse. The policy requires every shipment to be declared within seven days of the bill of lading date and provides that shipments not so declared are held covered at a premium to be arranged.

1,158 words, about 6 min 4

Hotel Liability Claim: Late Notice and the Unauthorised Settlement

Sunridge Hotels holds a public liability policy with a limit of Rs 5 crore any one occurrence and in the aggregate, written on a claims-made basis with a retroactive date of 1 April 2019. Defence costs are payable within the limit.

1,152 words, about 6 min 5

The Bank Corporate Agent and the Retired Teacher

Prabhat Bank is a corporate agent holding tie-ups with one life, one general and one health insurer. At its Pune branch, staff sold a unit-linked plan to Mrs Kulkarni, a 68-year-old retired teacher, describing it as 'a fixed deposit with tax benefits' and showing her an illustration projecting a 12% annual return.

1,118 words, about 6 min