{"id":32040,"date":"2024-04-15T08:54:58","date_gmt":"2024-04-15T08:54:58","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32040"},"modified":"2024-04-15T08:54:58","modified_gmt":"2024-04-15T08:54:58","slug":"if-a-policy-document-is-lost-then","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/if-a-policy-document-is-lost-then\/","title":{"rendered":"If a policy document is lost, then"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Claim may be settled on the basis of an indemnity bond&#8221; option2=&#8221;An advertisement may have to be placed in a newspaper if the amount to be paid is high&#8221; option3=&#8221;Both A &#038; B&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is C. Both A &amp; B.<\/p>\n<p>If a policy document is lost, the policyholder may need to provide an indemnity bond to the insurance company. This is a document that guarantees that the policyholder will repay the insurance company if they make a claim on the policy. The insurance company may also require the policyholder to place an advertisement in a newspaper to notify potential claimants that the policy has been lost. This is done to protect the insurance company from fraudulent claims.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Claim may be settled on the basis of an indemnity bond. An indemnity bond is a legal document that guarantees that the policyholder will repay the insurance company if they make a claim on the policy. The insurance company may require the policyholder to provide an indemnity bond if their policy document is lost.<\/li>\n<li>Option B: An advertisement may have to be placed in a newspaper if the amount to be paid is high. The insurance company may require the policyholder to place an advertisement in a newspaper to notify potential claimants that the policy has been lost. This is done to protect the insurance company from fraudulent claims.<\/li>\n<li>Option C: Both A &amp; B. If a policy document is lost, the policyholder may need to provide an indemnity bond to the insurance company and place an advertisement in a newspaper to notify potential claimants that the policy has been lost.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Claim may be settled on the basis of an indemnity bond&#8221; option2=&#8221;An advertisement may have to be placed in a newspaper if the amount to be paid is high&#8221; option3=&#8221;Both A &#038; B&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32040","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If a policy document is lost, then<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/if-a-policy-document-is-lost-then\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If a policy document is lost, then\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Claim may be settled on the basis of an indemnity bond&#8221; 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