📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A transfer or assignment of a policy of insurance,

    wholly or in part, whether with or without consideration, may be made only by__________________
    A An endorsement upon the policy itself Correct Answer Incorrect Answer
    B 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 Correct Answer Incorrect Answer
    C Attested by at least one witness, specifically setting forth the fact of transfer or assignment Correct Answer Incorrect Answer
    D Both (a) & (c) Correct Answer Incorrect Answer
    E Both (b) & (c) Correct Answer Incorrect Answer

    Solution

    Section 38 Assignment and transfer of insurance policies- (1) A transfer or assignment of a policy of insurance, wholly or in part, whether with or without consideration, 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, specifically setting forth the fact of transfer or assignment and the reasons thereof, the antecedents of the assignee and the terms on which the assignment is made.

    Practice Next
    More Insurance Laws Questions
    ask-question