Pioneer Insurance & Reinsurance Brokers Interview Questions and Answers

The Dynamo clause in fire policy refers to a provision that covers damage caused by electrical currents.

• The Dynamo clause is a common inclusion in fire insurance policies.

• It provides coverage for damage caused by electrical currents or power surges.

• This clause is important as electrical fires can cause significant damage to property.

• For example, if a power surge damages electronic equipment in a building, the Dynamo cl...read more

The sum insured in Machinery breakdown policy is arrived based on the value of the machinery and equipment covered.

• The sum insured is determined by the value of the machinery and equipment covered under the policy.

• It is important to accurately assess the value of the machinery to ensure adequate coverage.

• Factors such as age, condition, and usage of the machinery may also be taken into consideration.

• The sum insured may ...read more