III IC-85 case studies
III IC-85 · Put your knowledge to work in context.
IC-85 is a paper code in the professional examination series of the Insurance Institute of India, the body that runs the Licentiate, Associateship and Fellowship programmes listed on its site. Candidates who search for IC-85 are usually insurance professionals in India building credit toward those designations, or working in a related technical area who need a structured, examinable grounding in the subject the paper covers. The III IC-85 case studies are 5 cases and about 3,270 words.
1Fire renewal after a preventable loss: capacity, protection and sum insured
A cotton-yarn spinning mill seeks renewal of its standard fire and special perils policy. The reinstatement value of buildings, plant and stock is ₹18.4 crore, but the broker has proposed a sum insured of ₹12 crore to keep premium competitive.
719 words, about 4 min2Fleet own-damage claim: late notice, pre-survey repairs and overloading
A fleet owner reports, on 14 March, an accident that occurred on 20 February. The insured's workshop had already replaced the cabin, front axle and two tyres for ₹6.42 lakh, and the truck had returned to service.
641 words, about 3 min3Group health mis-selling through a corporate agent
A corporate agent tied to an insurer sells a group mediclaim policy to a 300-employee IT services firm. The policy has a 30-day waiting period for illness, a 24-month waiting period for pre-existing diseases, a room-rent cap of 1% of sum insured, and maternity excluded.
637 words, about 3 min4Petrochemical terminal: treaty capacity, PML and facultative shortfall
An insurer is offered a petrochemical storage terminal with a total insurable value of ₹960 crore, all in one compound with four interlinked tanks and a shared pipeline manifold. The insurer's net retention is ₹20 crore per risk.
601 words, about 3 min5Warehouse fire: red flags, fraudulent-claim condition and regulatory pressure
A garment exporter's warehouse burns on 2 August. The policy is a standard fire policy with a sum insured of ₹6 crore on stock.
672 words, about 3 min