Observation

Most candidates avoided the question. However, the few that attempted it performed fairly well. Some of the suggested answers are:

(a) Discharge voucher is a form completed by the insured in acceptance of offer of settlement made by the insurer in full and final settlement of the claim.

(b) (i) Duties of the insured are to:

- notify the insurer of any loss after the occurrence of the event insured against;

- forward the particulars of the loss within the period stated in the policy;

- notify the police after the theft or damage of the subject matter;

- co-operate with the insurance company to make subrogation possible where another party caused the loss;

- prevent further loss or damage to the subject matter of insurance;

- to obtain and complete claim form which is to be returned to the insurer with supporting documents.

(ii) Duties of the underwriter are to:

- prove that the policy is subject to certain clauses;

- ensure that the insured is fully compensated following the compliance of all obligations;

- prevent further loss or damage to the subject matter;

- assist with the collection and filling of claim form;

- take possession of the damaged item as early as possible;

- investigate the loss;

- ensure that premium is not outstanding.