III IC-99 study guide
III IC-99 · Work through your exam, one topic at a time.
The III IC-99 is a multiple-choice insurance examination associated with the Insurance Institute of India's licensing and certification structure. It is aimed at candidates entering or advancing in the Indian insurance market who need a working command of both regulation and technical coverage knowledge, rather than a single specialty. The III IC-99 study guide has 8 sections and about 2,904 words.
01Insurance Regulation, Licensing, and Market Conduct
The exam tests the statutory skeleton of Indian insurance: who may transact insurance business, how intermediaries are licensed, and the conduct standards that protect policyholders. Questions often turn on which Act, regulation or forum applies, so name the source precisely.
369 words, about 2 min02General Insurance Principles and Policy Contract Provisions
This domain tests the seven principles that decide whether a loss is payable, plus the anatomy of the policy document and the rules of construction applied to it. Expect short scenarios asking "which principle governs?" and "what does this clause mean?".
362 words, about 2 min03Property Insurance Coverages and Exposures
The exam tests fire and allied perils cover, the valuation methods that determine how much is paid, and the standard Indian property products. Numeric questions on average clause and depreciation are common.
373 words, about 2 min04Casualty and Liability Insurance Coverages
This domain tests legal liability: how it arises at common law or by statute, which policy responds, and how liability limits and trigger clauses work. Scenario questions on claims-made versus occurrence are frequent.
368 words, about 2 min05Commercial Lines Coverages and Risk Management
The exam tests how large and complex risks are covered and how risk is identified, measured and financed - including reinsurance structure. Expect questions on marine and engineering covers, PML/EML and treaty types.
373 words, about 2 min06Personal Lines Coverages
This domain covers motor, health, personal accident, home and travel insurance bought by individuals. Questions test sum insured mechanics, statutory minimums, waiting periods and add-on conditions.
366 words, about 2 min07Underwriting, Rating, and Claims Handling
This domain links risk selection and pricing to the claim lifecycle. Expect questions on hazard classification, rating methods, surveyor roles and settlement mechanics.
330 words, about 2 min08Insurance Ethics and Fiduciary Responsibilities
This domain tests the standards expected of insurers and intermediaries: disclosure, suitability, handling of money, conflicts of interest, confidentiality and fraud control. Questions are scenario-based and often ask "what should the intermediary do next?".
363 words, about 2 min