II. Underwriting and Policy Wording 核保及保單措詞

Underwriters use material facts to assess whether to accept a risk and what premium and terms to offer, considering both physical and moral hazards. Proposers must fulfil their disclosure duty under utmost good faith, and proposal forms are only one way of obtaining material facts.

Material Facts and Risk Assessment · Physical Hazards and Moral Hazards · Proposal Forms · Methods of Obtaining Material Facts

Underwriting procedures involve discussing terms, obtaining and checking risk information, confirming cover and dealing with premiums. Candidates must distinguish quotations from commitments to insure, understand the different insurance documents, and identify premium payment conditions and the purposes of different levies.

Quotations · Proposal Forms · Issue of Cover Notes, Policies and Certificates of · Premium · Levies on Premiums

The schedule and endorsements adapt standard policy wording to an individual risk, and must be read with the operative clause, exclusions and conditions. Candidates must distinguish excesses from franchises, and understand the different effects of warranties, conditions and representations.

Policy Forms and Policy Schedules · Common Policy Exceptions and Conditions · Use of Excesses, Deductibles and Franchises · Warranties, Conditions and Representations · General, Specific and Market Exclusions

General insurance renewal creates a new contract, revives the duty of utmost good faith and normally allows both parties to negotiate terms. Cancellation ends cover before its scheduled expiry and requires a legal basis, mutual consent or a contractual right, with the applicable notice and refund requirements observed.

Renewals · Operation of Cancellation Clauses