4.1 Claims: Notifications Flashcards Preview

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Flashcards in 4.1 Claims: Notifications Deck (52)
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1

Decision in Lloyd's TSB v Lloyd's Bank

proximate cause was poor advice, nor poor training

2

Two people insured may contact when claim arises

Insurer or broker

3

What basis should all ex gratia payments be made on and why

W/o prejudice to avoid disclosure if litigation ensues

4

What does 'may' give rise to a claim mean under Kidson

Real + appreciable possibility, on an objective view

5

What case interpreted the meaning of 'as soon as practicable' for notification clauses

Kidson

6

What kind of policy coverage is more expensive and why

Occurrence basis, as exposes insurer to indefinite future liability

7

What are aggregation clauses

Aggregates together different losses to create one claim

8

Kidson on 'as soon as practicable' meaning

When insured has sufficient knowledge of possibility of claim

9

Why does 11 IA not apply to notification CPs to liability

Notification CPs relate to risk as a whole, not a particular risk

10

Who will insurer involve first if claim arises

Claims handler

11

What is a claims made policy

Insurer at time of claim/notification = liable, even if circumstance turns into claim outside of policy period

12

Kidson defines 'may' or 'likely' for circumstances?

'May'

13

What does 'likely' to give rise to a claim mean under Layher

At least 50% chance of claim being made, not just possible

14

What is the general inclination of insurer when claim received

To settle

15

Two cases on wording for circumstance - 'may' and 'likely'

Kidson and Layher

16

What does s.13A IA do

Gives insured right to claim damages if insurer fails to settle within reasonable time

17

What does the difference in decision between Countrywide and Lloyd's suggest?

'Single act/omission' cannot be more remote cause of poor training, but 'single source' can be

18

What is an occurrence basis policy

Insurer at time of occurrence = liable, regardless of insurer at time of claim

19

What should insurer do if received notification of claim, but potentially there was a circumstance before claim arose

Check no previous notification of the circumstance

20

What guidelines give minimum standards for S's PII

SRA Minimum Ts&Cs

21

What case suggested that, for aggregation clauses, ongoing affairs are not a single act

Lloyd's TSB v Lloyd's Bank

22

Two alternatives to a waiver of rights

Ex gratia payment or w/o prejudice payment

23

How does SRA limit exclusions/avoidance under PII for Ss

Only allow exclusion for fraudulent party, not for innocent, and cannot avoid in event of fraud

24

What is a w/o prejudice payment

Settlement between parties

25

What do policies include if with same insurer for several years

Retroactive date - cover all claims back to beginning of first policy

26

Kuwait Airways policy wording

Max policy limit for 'any one occurrence'

27

What Act brought in provisions to control insurer's late payment of claims

Enterprise Act 2016, inserting s.13A IA

28

What two things should S get if potential claim

Final policy wording + check Proposal Form for binding Ws

29

When can insured claim damages for insurer's failure to settle within reasonable time

If insured can prove actual loss, and loss contemplated by parties at time of C

30

Layher defines 'may' or 'likely' for circumstances?

'Likely'