IRDAI Surveyor LOP case studies
IRDAI Surveyor LOP · Put your knowledge to work in context.
The Insurance Institute of India (III) Surveyor Pre-Licensing Examination is the entry gate for anyone who wants to work as an insurance surveyor and loss assessor in India. IRDAI's Surveyors Department records that the Authority framed the IRDAI Insurance Surveyors and Loss Assessors Regulations, 2015 under 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 LOP case studies are 5 cases and about 3,407 words.
1Fire Loss with Underinsurance and Reinstatement Value Condition
A pharmaceutical warehouse in Pune is insured under a Standard Fire and Special Perils policy for Rs 6 crore on a reinstatement value basis, covering building, plant, stock and furniture. A fire on 12 March destroys part of the stock and damages the roof.
738 words, about 4 min2Class-Specific Licence and Conflict of Interest in a Marine Cargo Claim
You hold a surveyor licence endorsed for Fire and Engineering only. An insurer's motor claims manager, who knows you socially, sends you a marine cargo claim: a consignment of machine parts shipped from Shanghai to Chennai was water-damaged; the claim is Rs 42 lakh.
628 words, about 3 min3Motor Constructive Total Loss, Salvage Retention and Betterment
A 2019 diesel hatchback insured under a private car package policy with IDV Rs 7,50,000 is damaged in a collision with a truck. The insurer appoints you.
647 words, about 3 min4Burglary Claim: Inducement and Inconsistent Stock Records
You are appointed to survey a burglary claim at a jewellery shop insured for Rs 1.2 crore under a shopkeepers' policy. The FIR says the shutter was cut and gold ornaments worth Rs 38 lakh were stolen.
677 words, about 3 min5Godown Fire: Arson, Premium Timing and Consequential Loss
A fire at a third-party godown destroys 4,000 cartons of packaged food products insured under a fire policy with a stock sum insured of Rs 2 crore. The insured claims Rs 1.75 crore.
717 words, about 4 min