Question

What is the difference between a "condition" and a "warranty" in an insurance policy?

A Breach of a condition may void the policy, while breach of a warranty may only give the insurer the right to avoid the contract.
B Conditions are always express, while warranties are always implied.
C Conditions relate to the insured's actions, while warranties relate to the insurer's obligations.
D Conditions are more important than warranties in determining coverage
E None of the above
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)