Matt has a contents policy and Kate has a personal accident and sickness policy. How will any claims under these policies differ?
The settlement figure on Kate’s policy has already been agreed at policy inception.
In terms of household building insurance and the claims process, an example of betterment would be:
the installation of new wiring.
The condition under a business interruption [BI] policy that there must be a property policy indemnifying the insured before the BI policy can operate is called the:
property damage proviso.
On what basis are public liability policies written?
On a losses-occurring basis.
Who is responsible for payment of the loss adjuster’s costs?
the insurer
Which of these is NOT a pre-action protocol under the Civil Procedure Rules?
property damage
What type of claims are dealt with under the Claims Portal?
Third party personal injury claims.
A business is keen to reduce its insurance costs through a policy of risk retention. This is LEAST likely to include:
taking out an insurance policy with no deductible.
Under the eight pre-action protocols introduced by the Civil Procedure Rules, within how many days must a Letter of Claim from a third party’s solicitor be acknowledged?
21 days
Megan’s mobile phone and belongings were stolen from her locked hotel room whilst on holiday in Spain. What would she need to do to successfully claim on her travel insurance policy?
Provide proof of purchase for the items and show that she notified local police at the time of the loss only.
An insurer appoints approved repairers because they:
reduce costs and improve quality.
What type of policy is most often written on a claims-made basis?
Professional indemnity.
In motor insurance, what is the ‘claim form’ called?
An accident report form.
What type of insurance policy is LEAST likely to be subject to fraudulent claims?
Extended warranty.
Sophie has a private car policy and is involved in a motor accident for which she is at fault. She receives a letter from the third party’s solicitors making a claim for personal injury. Any offer to pay damages may take account of:
the degree of negligence by each party.
A claim is submitted for a fatality under a personal accident policy. What key document must be provided as well as the claim form?
death certificate
Claims for home contents are usually settled on what basis?
New for old.
Jane has a comprehensive motor policy with a voluntary excess of £250. She is involved in a no-fault collision with a third party. Who could she use to claim this excess back from the responsible third party?
Uninsured loss recovery service.
If George has a comprehensive private car policy, what would NOT be regarded as an uninsured loss in the event of a non-fault accident?
Recovery cost of taking his vehicle to an approved repairer.
How is a claim usually notified under an extended warranty policy?
By telephone to the issuing company.
With employers’ liability insurance, what will a successful claim have to demonstrate?
The employer has been negligent.
The indemnity sum for the loss or damage to a building is calculated as the cost of repair or:
reinstatement at the time of loss less an allowance for betterment.
What is the maximum limit for personal injury claims to be processed via the MOJ Portal?
£25,000
Under a household policy, a claim under the home contents section would usually result in items being paid on a[n]:
new for old basis.
