Skip to content

CS Professional · Banking and Insurance - Laws and Practice · Functions in Insurance and Compliance related thereto (Part II)

Under the Insurance Act, 1938 as given, what must an insurer's record of claims contain for a claim that is rejected?

The claims record must show each claim's date, the claimant's name and address, and, for a rejected claim, the date of rejection and the grounds. For discharged claims, the date of discharge is recorded. Electronic form is permitted as specified by regulations.

  1. AOnly the name of the claimant
  2. BThe date of the claim, claimant's name and address, and the date of rejection and the grounds thereofCorrect
  3. COnly the amount claimed and the agent's name
  4. DOnly the date of rejection, without grounds

Explanation

The record of claims must show every claim with its date, the claimant's name and address, and the date it was discharged or, if rejected, the date of rejection and the grounds. It may be kept in electronic form as specified by regulations.

Did you get it right without looking?

One question tells you little. A timed set on Functions in Insurance and Compliance related thereto (Part II) shows your real accuracy, how long you take and where you lose marks.

Practise Functions in Insurance and Compliance related thereto (Part II)Free diagnostic mock

More Functions in Insurance and Compliance related thereto (Part II) questions