Question

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

a.

Claims must be paid in rupees

b.

Claims must be paid in foreign currency

c.

Claims may be paid in any currency preferred by the policy holder

d.

Claims may be paid in appropriate foreign currency

Posted under IC 14 Regulations of Insurance Business

Answer: (d).Claims may be paid in appropriate foreign currency Explanation:Claims arising outside India against policies issued under the Workmen's Compensation Act and Merchant Shipping Act may be paid in appropriate foreign currency. This provision allows for flexibility in claims settlement, ensuring that claims can be paid in the currency most suitable for the circumstances of the claim.

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