Question

Which of the following is issued by an intermediary after the issue of cover note?

a.

FPR

b.

Policy document

c.

Claim document

d.

KYC form

Posted under IC85 Reinsurance Management

Answer: (b).Policy document Explanation:After the issuance of a cover note, an intermediary typically issues a policy document. The policy document contains the detailed terms, conditions, and coverage provided by the insurance policy. It serves as the official contract between the insurer and the insured, outlining the rights and obligations of both parties. The policy document supersedes the temporary cover provided by the cover note and provides comprehensive coverage details. Options a, c, and d are not typically issued by an intermediary after the cover note but may be relevant in other stages of the insurance process. FPR (First Premium Receipt) is a document acknowledging the payment of the first premium, a claim document is used to initiate the claims process, and a KYC (Know Your Customer) form is used to collect customer information for compliance purposes.

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Q. Which of the following is issued by an intermediary after the issue of cover note?
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