IRDAI Surveyor Fire (S-02) case studies
IRDAI Surveyor Fire (S-02) · Put your knowledge to work in context.
The IRDAI Surveyor Fire (S-02) credential sits inside the surveyor licensing pathway regulated by the Insurance Regulatory and Development Authority of India. IRDAI's Surveyors Department records that the Authority framed the IRDAI Insurance Surveyors and Loss Assessors Regulations, 2015 in exercise of powers conferred by sections 42D, 64 UM and 114A of the Insurance Act, 1938, as amended by the Insurance Laws (Amendment) Act, 2015, and section 26 of the IRDAI Act, 1999. The IRDAI Surveyor Fire (S-02) case studies are 5 cases and about 3,127 words.
1Reinstatement Value Claim with Underinsurance in a Pharmaceutical Plant
A pharmaceutical manufacturer insures its plant and machinery under a Standard Fire and Special Perils Policy with a Reinstatement Value Clause. The sum insured is Rs 6 crore.
713 words, about 4 min2Material Change: New Solvent Coating Line Without Intimation
A plastics injection-moulding unit holds a Standard Fire and Special Perils Policy with a sum insured of Rs 4 crore covering building, plant and machinery, and stock. Four months into the policy, the insured installs a solvent-based spray-painting booth in an adjoining shed and stores about 2,000 litres of thinner and paint.
644 words, about 3 min3Godown Fire: Reconciling Stock Records and Bank Statements
A wholesale grocery distributor's godown catches fire at 2 a.m. Stock of pulses, edible oil and packaged goods is destroyed.
615 words, about 3 min4Conflict of Interest and Inducement: Surveyor's Cousin in Finance
An IRDAI-licensed surveyor and loss assessor, holding a fire and engineering licence, is appointed by an insurer to survey a fire loss of about Rs 3 crore at a textile mill. On reaching the site, he finds that the mill's finance manager, who handles insurance and claim papers, is his first cousin.
574 words, about 3 min5Short-Circuit Fire: Electrical Exclusion vs Insured Peril
A candle manufacturing unit has a Standard Fire and Special Perils Policy covering stock for a sum insured of Rs 50 lakh. The actual stock at risk on the date of loss is Rs 60 lakh.
581 words, about 3 min