Module 10 - 5 MARKS

Question 1

What ratios make up the COR?

Answer 1

-Loss
-Commission
-Expense

Question 2

What levies must insurers consider when pricing?

Answer 2

-FSCS
-Motor Insurers’ Bureau (MIB)
-Mesothelioma Act 2014

Question 3

What is the MIB?

Answer 3

Insurers last resprt for property damage or injury by an uninsured driver

Question 4

What is the Mesothelioma Act 2014?

Answer 4

Levy on all EL premiums to allow those suffering from mesothelioma-related illnesses to obtain financial support