Question

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

a.

If the additional premiums are collected from overseas buyers in foreign currency

b.

If the additional premiums are collected from overseas buyers in Indian rupees

c.

If the additional premiums are waived for overseas buyers

d.

If the additional risks are minor and do not require additional premiums

Answer: (a).If the additional premiums are collected from overseas buyers in foreign currency Explanation:Insurers may provide extensions of marine insurance cover for additional risks or extended transit risks if the additional premiums are collected from overseas buyers in foreign currency. This ensures that the insurer is adequately compensated for assuming additional risks beyond the original coverage.

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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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