III IC-84 case studies
III IC-84 · Put your knowledge to work in context.
IC-84 is a subject code in the Insurance Institute of India's professional examination family, which the Institute lists under its Professional Examinations alongside the Licentiate, Associateship and Fellowship streams and a range of Specialised Diploma courses. Candidates typically encounter it as one paper within a structured study programme rather than as a stand-alone licence. The III IC-84 case studies are 5 cases and about 3,230 words.
1Fire Loss, Average Clause and Subrogation at a Garment Warehouse
During a festival-season stock build-up, a garment manufacturer's warehouse in Surat caught fire. The fire policy on stock had a sum insured of ₹1.20 crore, while the stock actually at risk on the date of loss was ₹2.00 crore.
663 words, about 3 min2Motor Dealer 'Free Insurance' and Unlicensed Distribution
A motor dealership, Shield Motors, advertises 'free insurance for the first year' with every new car. In practice it collects the premium from the customer inside the on-road price, places the cover through an insurer with which it has a business associate agreement, and receives 15% commission.
656 words, about 3 min3Group Mediclaim Renewal with 140% Claims Ratio
ABC Tech, a 400-employee IT services company, is renewing its group mediclaim. Last year's premium was ₹48 lakh; claims were ₹67 lakh, a 140% claims ratio, driven by two cardiac surgeries and 18 diabetes-related hospitalisations.
656 words, about 3 min4Wall Collapse Caused by Adjacent Metro Excavation
A four-storey commercial building suffered a partial wall collapse after a metro rail contractor excavated an adjacent site. The building's property policy covers fire and allied perils, including 'subsidence and landslide', but excludes 'loss or damage caused by excavation, mining, or underground works' and 'defective design or workmanship'.
640 words, about 3 min5Senior Citizen Sold a Locked-In Unit-Linked Policy
A 64-year-old retired schoolteacher invested ₹15 lakh in a single-premium unit-linked policy sold through a bank branch. The agent said the plan offered 'guaranteed 12% annual return' and that she could withdraw after one year without loss.
615 words, about 3 min