Auto 1,2, 3 practice questions Flashcards
What is the role of collateral benefits in paying the claim
they are deduced from the weekly income replacement or non-earner benefit, they are sources of entitlement outside of the policy
What is ‘SABS’
Statutory Accident Benefits Schedule: established in 1994, gave increased benefits and included death, serious disfigurement and mental function
How is impairment defined under the accident benefits section
a loss or abnormality of a psychological, physiological, or anatomical structure or function after an auto accident.
Does the agent or broker need to sign the auto application
Yes, required in the broker/agent report section
What optional coverage is only available under section 7 loss or damage? auto
Comprehensive, specified perils, collision and upset, and all perils.
Are changes to coverage valid if underwriter issues policy in a way that is different than what was requested
yes, if they are clearly marked and insured does not object in 7 days
How are damages for lost income calculated?
70% of gross income
For, liability, require certain portion of the policy limit to be reserved for bodily injury claims, and property damage, what is this called
Priority of Payments. In ON 95% property, and 5% injury
What is the purpose fo the Minor Injury Guideline
Sets out treatment framework for minor injuries to reduce assessment time.
Which accident benefit coverages are not available when a driver has an accident under the influence of alcohol
income replacement and non-earner benefits
What is the total amount of standard dealth benefits would be payed to the wife and 4 children when husband dies from accident
65k= 25k for wife, and 10k per dependant
What were the changes made to the statutory accident benefits (SABS) coverage in 2016?
to provide the option for an insured to purchase increased limits or additional accident benefits coverage
What are collateral benefits?
entitlements outside of the automobile insurance polity
