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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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?

View solution

Q. In which currency may insurance cover on risks inside India be issued for assets owned by residents of India?

View solution

Q. Under what circumstances may non-marine risks in respect of assets outside India owned by residents of India be covered in foreign currency?

View solution

Q. What conditions must be met for insurers to remit claims under policies issued in foreign currency?

View solution

Q. What is the requirement for settlement of claims under policies issued in foreign currency for resident beneficiaries?

View solution

Q. Under what circumstances can insurance cover on baggage or valuables in transit between India and other countries be issued in rupees?

View solution

Q. What is required for premiums on policies covering baggage or valuables in transit to be collected in rupees?

View solution

Q. In what currency can claims on policies covering baggage or valuables in transit be paid in India?

View solution

Q. Under what circumstances can personal accident policies be issued in foreign currency?

View solution

Q. Under what circumstances may Indian companies executing construction and turnkey contracts in foreign countries obtain personal accident cover from Indian Insurers?

View solution

Q. What is the premium collection requirement for Overseas Medical Insurance Schemes for Indian residents traveling abroad for employment?

View solution

Q. In what currency may claims arising outside India against policies issued under the Workmen's Compensation Act and Merchant Shipping Act be paid?

View solution