III IC-88 study guide
III IC-88 · Work through your exam, one topic at a time.
IC-88 is a subject code in the examination system of the Insurance Institute of India (III), an Indian professional body whose site lists certificate, diploma and specialised diploma examinations alongside IRDAI-related agent and broker examinations. Candidates searching for IC-88 usually encounter it as one paper in a numbered series (IC-01, IC-14, IC-38, IC-45 and others appear in the Institute's own navigation), each with its own study material, addenda and examination scheduling. The III IC-88 study guide has 6 sections and about 1,687 words.
01Engineering Insurance Principles and Policy Framework
IC-88 tests engineering insurance as a specialised property/liability class covering construction, erection and operating risks. The exam expects you to distinguish project policies from annual operating policies, and to identify which loss triggers which cover.
303 words, about 2 min02Contract Works Insurance (CAR)
CAR protects construction projects - buildings, bridges, roads, dams and similar works - against accidental physical loss or damage during construction and the agreed maintenance period. IC-88 questions often test what is included in the contract value and what is outside the CAR scope.
298 words, about 1 min03Erection All Risks (EAR) Insurance
EAR covers the erection, installation, testing and commissioning of plant, machinery and steel structures. It is closely related to CAR but carries higher testing and mechanical/electrical commissioning risk, which IC-88 tests through scope and exclusion questions.
273 words, about 1 min04Machinery Breakdown and Boiler/Pressure Vessel Insurance
Machinery Breakdown (MB) and Boiler/Pressure Vessel policies cover operating risks rather than construction risks. IC-88 expects you to separate sudden accidental breakdown from gradual deterioration and maintenance-related failure.
256 words, about 1 min05Electronic Equipment Insurance and Contractor’s Plant and Machinery
Electronic Equipment Insurance (EEI) and Contractor’s Plant and Machinery (CPM) cover movable or specialised equipment. IC-88 tests their scope because candidates often confuse them with CAR, MB or office contents policies.
266 words, about 1 min06Loss Assessment, Business Interruption and Claims
The claims section of IC-88 tests how engineering losses are investigated and how consequential losses are measured. The key is to establish the insured peril, the damaged property, the sum insured basis and whether a BI extension applies.
291 words, about 1 min