III IC-76 case studies

III IC-76 · Put your knowledge to work in context.

IC-76 is a paper code in the Professional Examination stream of the Insurance Institute of India (III), the body behind the Licentiate, Associateship and Fellowship designations and the specialised diploma courses listed on its site. Candidates encounter IC-76 alongside subject codes such as IC-01 Principles of Insurance, IC-45 General Insurance Underwriting, IC-74 Liability Insurance and IC-89 Management Accounting in the institute's published study-material and addendum lists. The III IC-76 case studies are 5 cases and about 5,634 words.

Average clause and consequential loss on a textile mill fire

Vasant Textiles Ltd runs a single-unit spinning and weaving mill in Coimbatore. Its standard fire and special perils policy, renewed on 1 April, carries a sum insured of Rs 12 crore split as machinery Rs 7 crore and stock Rs 5 crore.

1,104 words, about 6 min 2

Health claim after portability: moratorium, room-rent pro-ration and grievance deadlines

Meera, aged 47, bought a family floater health policy with a sum insured of Rs 10 lakh from a new insurer in January 2023, porting from her previous insurer with which she had four years of continuous unbroken coverage. The policy allows room rent up to 1% of sum insured per day, ICU up to 2% per day, excludes listed consumables, and applies a 10% co-payment on every claim.

1,038 words, about 5 min 3

Expired driving licence: third-party award, own damage repudiation and recovery

On 4 February a 2019-model 16-tonne goods vehicle insured under a standard motor package policy with a sum insured of Rs 28 lakh struck a group of pedestrians at a state highway junction near Nagpur at about 22:40 hours. One pedestrian died and two were injured.

1,109 words, about 6 min 4

Death within three years of revival: the Section 45 moratorium

Rakesh took a 20-year endowment policy with a sum assured of Rs 50 lakh on 14 March 2019, aged 38, with a critical illness rider. Premiums were paid by salary deduction for two years, but the policy lapsed on 14 April 2021 when the employer's mandate failed.

1,116 words, about 6 min 5

Retention, surplus and catastrophe treaty response to one large fire

Bharat General Insurance, a mid-sized non-life insurer with gross written premium of Rs 2,200 crore, renews its industrial fire programme on 1 April. Every fire risk is ceded 20% under a compulsory quota share.

1,267 words, about 6 min