IRDAI Surveyor Motor (S-06) Practice Questions - IRDAI Surveyor & Loss Assessor Exam - Motor (III S-06 IC-72) Exam

According to the Indian Motor Tariff, the No Claim Bonus (NCB) earned on a policy belongs to whom?

The vehicle itself, transferring automatically to the new buyer upon sale The financier of the vehicle if under hire-purchase or hypothecation The individual owner who insured the vehicle, and is transferable to a new vehicle owned by them The insurance company, which can cancel it at its discretion

Correct Answer:

The individual owner who insured the vehicle, and is transferable to a new vehicle owned by them

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