GIPSA Promotion Exam: Daily One-liners (4th February 2020)

GIPSA Promotion Exam: Daily One-liners (4th February 2020)

Dear Aspirants,

As we all know that Marine, Fire, ENGINEERING, AVIATION, Motor, HRM Part is playing a major role in any exam weather it will be GIPSA and Para 13.2 examinations. So here we are providing the Daily one liner for every upcoming exam . Daily one liner consist top study material in one line which is important for every insurance promotion exams.’


  • If bank signed on the Discharge voucher is it fully binding on all the parties – Yes
  • Damage caused by Acid in fire insurance policy is payable or Not – No it is not payable
  • Fearing possible burglary one lady kept her Jewelry in an unlighted grate and next morning the fire was lighted by mistake and jewelry wad damaged by fire – In this case the loss is payable( Harris vs. Poland, 1941)
  • Sugar was being refined by being heated by stove and due to negligence of an employee the stove was overheated and the sugar was spoilt but it did not ignite – The claim was rejected by the court ( Austin vs. Drew 1815 )
  • Once there is a fire within the meaning of policy, the losses covered are – Smoke and heat, scorching, falling walls, collapse of roofs, floors etc


  • The MCE policy provides – wider cover than under ICC(A)
  • On deck shipments can be covered under MCE – at terms to be agreed
  • MBD Policy not covered – loss or damage due to Fire, Lightning, Explosion, theft, collapse of buildings, subsidence, etc
  • Damage resulting from experiment and overload covered by MCE – No it is not covered
  • The most eligible risks for Machinery Insurance are units of – Power plant and Prime Movers
  • Electrical and Mechanical breakdown or internal explosions covered by CPM – No all that risks are excluded in the policy
  • Whilst working underground in CPM can that equipment covered – No it is an exclusion


  • Using “Pair and set clause” the underwriter limits his liability – to the insured value of the lost or damaged part
  • “Cutting clause” – states that the damaged portion should be cut off and the balance utilized. This is used in policies covering pipes or similar items of length
  • Label Clause is used in – Tinned food stuffs
  • The Pickings Clause provides that – the insurer will pay the cost of picking and the cost of re baling both sound and damaged material because the damaged material does have salvage value and this implements in Cotton, Wool and similar commodities
  • Garbling Clause provides that – the insurer will pay the cost of garbling ( means sift, to cleanse, to separate sound from the whose )as such an exercise prevents further damage and reduces the claim


  • IDV of vehicle beyond 5 years – to be agreed between insured and insurer
  • If loss or damage cost exceeds 75% then – the loss is treated as CTL
  • Under Two Wheeler loss to accessories by burglary, housebreaking or theft covered only when the vehicle is also stolen at the same time but in Private car – this point is silent
  • But under private car accessories are covered under the burglary if they are – on the motor car at the time of loss
  • Whether Taximeter considered as accessories of taxicab – Yes
  • Accessories are those parts which are directly – supplied by the manufacturers along with the vehicle and are not essential for the running of the vehicle


  • Total amount payable under the above policy is – Rs.50000/- towards diagnosis, biopsy, surgery etc
  • Who will be covered – Insured and his spouse also covered
  • Cancer Insurance Policy can be issued to – Cancer Patients Aid Association Members
  • Under Cancer Insurance Policy – Only Allopathic mode of treatment is covered
  • Bhavishya Arogya Policy is meant for – medical expenses due to illness/accidental injury incurred by the insured person during his retirement age as defined in the policy
  • Bhavishya Arogya Policy can be issued – at the age of 25 years to 55 years age and the maximum sum insured is Rs.50000/- and for any disease 20000/- per any one illness or injury

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