Question

What is the condition "Arbitration" commonly found in insurance policies?

a.

It refers to the process of dispute handling and grievance redressal.

b.

It indicates the amount of claim to be paid to the insured.

c.

It is a type of salvage procedure for damaged property.

d.

It specifies the procedure for calculating salvage.

Posted under IC38 Life Insurance Agent Exam

Answer: (a).It refers to the process of dispute handling and grievance redressal. Explanation:The condition of "Arbitration" in insurance policies relates to the process of dispute handling and grievance redressal.

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Q. What is the condition "Arbitration" commonly found in insurance policies?
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