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Question

As per the Insurance Act, 1938 the assignment and transfer of insurance polices wholly or in part, whether with or without consideration________________________

A Will only be effective by way of endorsement upon the policy itself Correct Answer Incorrect Answer
B Shall be made only by an endorsement upon the policy itself or by a separate instrument, signed in either case by the transferor or by the assignor or his duly authorised agent or attested by at least one witness Correct Answer Incorrect Answer
C May be made only by an endorsement upon the policy itself or by a separate instrument, signed in either case by the transferor or by the assignor or his duly authorised agent and attested by at least one witness Correct Answer Incorrect Answer
D Should only be done if the issuer of the policy at his discretion along with the policy holder decides to do so Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

May be made only by an endorsement upon the policy itself or by a separate instrument, signed in either case by the transferor or by the assignor or his duly authorised agent and attested by at least one witness, Explanation: Section 38 Assignment and transfer of insurance policies

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