III IC-83 study guide
III IC-83 · Work through your exam, one topic at a time.
IC-83 is an Insurance Institute of India (III) subject code in the IC series, the numbering used across III's professional examinations and specialised diploma courses. The Institute's own IC-83 page could not be retrieved: the URL returned HTTP 404 Not Found when checked on 5 November 2026, so no verified syllabus, domain weighting, question count, duration, fee, passing mark, retake rule or validity period for IC-83 exists in the available source. The III IC-83 study guide has 5 sections and about 1,738 words.
01Insurance Fundamentals and the Contract of Insurance
Domain 1 tests the legal spine of insurance: the principles that decide whether a valid contract exists and whether a loss is payable. Items are usually short scenarios ending in "how much, if anything, is payable?" rather than pure definition recall.
358 words, about 2 min02Underwriting, Rating and Risk Selection
Domain 2 tests how risk is assessed and priced: the information an underwriter needs, how loadings and discounts are applied, how the sum insured is fixed, and when to decline or counter-offer. Expect calculation items where a basic rate is quoted per mille or per cent and modifiers must be applied in the right order.
358 words, about 2 min03Policy Documentation, Endorsements and Claims Settlement
Domain 3 tests the paperwork and the money: what the schedule, wording, warranties and endorsements do, and how a claim is quantified from repair estimates, depreciation, excesses and salvage. Calculation items here reward careful sequencing more than memorised formulas.
330 words, about 2 min04Regulatory Environment and Market Conduct
Domain 4 tests the framework inside which insurers, intermediaries and policyholders operate: the statutes, the regulator's functions, product and conduct requirements, and the grievance-redress route. Items often ask which forum or which rule applies to a given complaint.
343 words, about 2 min05Reinsurance and Risk Transfer
Domain 5 tests how an insurer protects its own book: the treaty types, how retention and capacity are calculated, and who the insured can actually sue. Expect numerical items on surplus treaties and conceptual items on facultative versus treaty placement.
349 words, about 2 min