Q. What does Section 64 VB of the Insurance Act specify regarding assumption of risk by insurers?

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Q. What provision does Section 64 VB (2) of the Insurance Act make regarding the assumption of risk by insurers when dealing with non-realizable premiums?

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Q. How do IRDA regulations address the issue of non-realized premiums for general insurance policies?

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Q. How does the Motor Vehicles Act affect insurers' obligations regarding non-realized premiums?

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Q. In what circumstances is the full premium required to be paid before the commencement of risk for a specific policy?

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Q. In which cases are there relaxations to the provisions of Section 64VB of the Insurance Act?

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Q. What is the purpose of the Memorandum of Exchange Control Regulations relating to General Insurance in India?

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Q. What document should insurers insist on when issuing policies expressed in foreign currency against premium payable in foreign currency?

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Q. What is the requirement for persons, firms, and companies resident in India regarding taking insurance cover with insurance companies in foreign countries?

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Q. How are payments of claims to individuals in Nepal and Bhutan against marine or non-marine policies typically handled?

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Q. In what currency are marine insurance policies on coastal shipments typically issued?

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Q. Under what conditions can the premium on a marine insurance policy for exports from India be accepted in rupees?

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Q. Under what conditions may insurers provide extensions of marine insurance cover for additional risks or extended transit risks?

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Q. How are premiums on marine insurance policies covering shipments between countries outside India typically received?

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Q. How are claims against marine insurance policies handled when payable to individuals, firms, or companies in India?

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Q. What documents are typically required to support applications for remittances of marine claims against exports?

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Q. Under what circumstances may insurers settle claims in rupees in favor of Indian exporters for marine claims against exports?

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Q. What provision does not apply to remittances for replenishment of foreign currency balances?

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Q. In which circumstances may insurers settle claims from their foreign currency balances in favor of overseas suppliers for certain categories of imports?

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Q. Under what circumstances may claims arising from marine insurance policies covering merchanting trade financed through India be settled by insurers from their foreign currency balances?

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