I85PREP
⌘ K
III IC-45 study materials
III IC-45 study resources

III IC-45 study guide

III IC-45 · Work through your exam, one topic at a time.

IC-45 – General Insurance Underwriting is a paper listed by the Insurance Institute of India (III) among its professional examination subjects, appearing in the Institute's Addendum listing of study-material updates. The Addendum entry links to an IC-45 English document dated 01-09-2025, which is the only IC-45-specific item visible on the retrieved pages. The dedicated IC-45 landing page (insuranceinstituteofindia.com/web/guest/ic-45) returned a 404 Not Found error at the time of retrieval, so the official syllabus breakdown, chapter list, marks, duration, question format, fees and pass marks for this paper could not be confirmed from the source and are not stated here. The subject matter implied by the title is underwriting of general (non-life) insurance: how risks are assessed, selected, priced and controlled across lines such as fire, marine and miscellaneous. Because the source does not enumerate topics, candidates should treat the official IC-45 syllabus document and the current addendum as the authoritative scope rather than any third-party summary. The paper is likely to suit insurance professionals working in or moving toward underwriting, underwriting support, reinsurance or risk functions, and candidates pursuing III professional qualifications who need a general-insurance technical elective. Topics on this exam: General Insurance Underwriting. The III IC-45 study guide has 1 section and about 425 words.

01

General Insurance Underwriting

This is the single domain tested by IC-45. The paper examines how an underwriter decides which risks to accept, on what terms and at what price, and how that decision is documented, delegated and monitored. Expect questions on underwriting principles, information sources, hazard identification, rating, policy terms and conditions, class-specific underwriting, and the link between underwriting and reinsurance. Underwriting protects the pool : risks with similar expected loss cost should pay similar premiums, and the total premium must cover claims, expenses and margin.

425 words, about 2 min

More study resources for III IC-45

  • Practice questionsIn insurance underwriting, what does the term 'moral hazard' refer to?
  • FlashcardsUnderwriting. The process of selecting, classifying, and pricing risks so that premiums reflect each insured's expected loss cost plus expenses, profit, and contingency margin.
  • Cheat sheetUnderwriting is the process of selecting, classifying, and pricing risks so that each insured's premium reflects its expected loss cost plus expenses, profit, and contingency loading.
  • Key termsUnderwriting. The process of evaluating an insurance application to decide whether to accept the risk, on what terms, and at what price.
  • Study planDefine underwriting and explain its role in the insurance value chain, distinguishing it from sales, claims, and actuarial pricing.
  • Common mistakesThe candidate memorized a checklist of acceptance criteria but never built a mental model of how information gathering, evaluation, decision, and monitoring feed back into each other, so questions that span the cycle expose the gap.
  • Exam-day guideBring the original, unexpired photo ID in the name you registered with.