Questions Flashcards
1
Q
Name four ways Subrogation arises?
A
Torte
Statue
Subject matter
Contract
2
Q
What is the CII definition of indemnity?
Indemnity is the _______ compensation sufficient to place the insured in the same position after a loss as they enjoyed ______ before it
A
Financial
Immediately
3
Q
Give three reasons people buy commercial insurance?
A
Legal requirement
Keep business in business
Protection against litigation
4
Q
Which is this principle?
The active, efficient cause that sets in motion a train of events which brings about a result without intervention of any force started and working actively from a new and independent source
A
Proximate cause
5
Q
Which principle of insurance is this?
The right of an insurer to call upon others similarly but not necessarily equally liable to the same insured to share the cost of an indemnity payment
A
Contribution
6
Q
Name two underwriting managers for motor and P&C Stafford
A
Mark Thomason
Lauren Barry
7
Q
Which two types of insurance are a legal requirement in the uk?
A
Motor insurance (RTA) Employers liability
8
Q
Can you name two work streams that the EE team focus on?
A
Reward and recognition Inclusion and diversity Charity and fundraising Communication Development and networking Well-being and green Sports and social
9
Q
What is the EOs definition of a complaint?
A
An expression of dissatisfaction with the oral or written by the justified or not
10
Q
What is the retention period for motor policies?
A
20 years
11
Q
Name the three sectors in the insurance market?
A
Buyers
Intermediaries
Providers
12
Q
If you receive a Calendar invite for a meeting or event you cannot attend what should you do?
A
Decline advising why
13
Q
Who can a complaint refer to if they remain dissatisfied following QBEs complaint handling?
A
FOS- financial ombudsman service
14
Q
How much do the FOS charge when they start a file following a complaint been referred to them?
A
£550
15
Q
Who do QBE have to report complaints information to?
A
FCA- financial conduct authority
16
Q
Who are the partner charities for 2020 to 2022?
A
Crisis and mind
17
Q
What does GDPR stand for?
A
General data protection regulation
18
Q
BI
A
Business interruption
19
Q
DPA
A
Data protection act
20
Q
CRES
A
Corporate real estate services
21
Q
FOS
A
Financial ombudsman service
22
Q
NWP
A
Net written premium
23
Q
TOA
A
Transfer of agency
24
Q
EO
A
European operations
25
What is a peril?
Something that gives rise to a loss
26
What is a hazard?
Something that influences a peril
27
What is the retention period for public liability policies?
100 years
28
What is the QBE application that holds all your personal information allows you to book a holiday called?
Work day
29
QBE was founded in Australia in what year was this?
1886
30
What is QBEs vision for 2022?
To be the most consistent and innovative risk partner
31
What is the dictionary definition of insurance?
An______by which a company or state undertakes to provide a _____of compensation for specified loss, damage, illness or death in return for a ____of specified premium
Arrangement
Guarantee
Payment
32
What is an excess?
A set _______ paid towards a claim made under an insurance _____
Contribution
| Policy
33
What is the definition of material fact?
A fact an insurer would regard as likely to influence the _____ or ______ of a risk
Assessment
| Acceptance
34
What is the CIIs definition of Subrogation?
Subrogation is the right of one person having ____ another under a ____ requirement to do so, to stand in the place of that other and avail themselves of all the rights and _____ of that other
Indemnified
Legal
Remedies
35
Can you name two members of the EE team?
```
Pam Jackson
Kirsty Hemmings
Michelle Oldcorne
Pam lee
Rocky Rai
```
36
Who are the team leaders of P&C?
Nicola walker
| Catherine Worrall
37
Name the seven principles of insurance?
```
Insurable interest
Proximate cause
Contribution
Subrogation
Loss minimisation
Indemnity
Utmost good faith
```
38
Who is the underwriting operations manager?
Michelle Oldcorne
39
Name three forms of communication used in the Stafford office?
```
Team meetings
Lunch and learns
Loos news
Desk drops
Email
Coffee with
Staff presentations
```
40
Give two acceptable ways of signing off an email?
Many thanks
Kind regards
Best regards
41
Employee of the month falls under what work stream?
Reward and recognition
42
UW
Underwriter
43
Name two trade sectors outside of appetite on contractors?
```
Asbestos
Waste and recycling
Haulage and transport
Security and fire
Scaffolding and roofing
Rail
Crop spraying
```
44
What is the maximum contractors all risks limit we can offer?
£2.5 million
45
Contents is the standard cover under the office package- Can you name to covers that would fall under the contents coverage?
```
Office contents
glass
Computers
Money
Trade samples
```
46
Name the two standard covers under the property owners product?
Building and legal expenses
47
What is the legal minimum EL cover by law and what is QBs standard limit?
Minimum £5 million provides £10 million as standard
48
Which two bodies regulate the insurance industry in the UK?
Financial conduct authority
| Prudential regulation authority
49
Name two things at the employee assistance program can help with?
```
Stress and emotional
Legal matters
Money advice
Debt counselling
Health and well-being
Child care
Elderly care
```
50
Under utmost good faith give two facts which do not need to be disclosed?
```
Facts of law
Spent convictions
Facts of public knowledge
Facts which lessen the risk
That’s where the insurer has wave at the right to information
```
51
Who is the team leader of the fleet department?
Matthew Craig
52
Who is the chief operating officer for European operations?
Jo Gordon
53
How many countries does QBE have offices in?
27
54
What does SME stand for?
Small to medium enterprises
55
What premium amount are SME policies usually below?
£10k
56
Name the 7 QBE DNA elements and the hashtags?
```
Team #together
Fast paced #rampitup
Customer focused #outsidein
Inclusive #valueallviews
Technical expert #knowyourstuff
Courageous #dotherightthing
Accountable #ownitnow
```
57
In the Stafford office what day is the alarm tested?
Thursday morning
58
What is QBEs purpose?
To enable a more resilient future
59
Name two fire marshals?
```
Bex lightfoot
Hannah cooper
Beth Costello
Lauren cross
Hayleigh Blackburn
```
60
What time should we be logged on ready to work?
9am
61
Where is the assembly point?
Alms houses
62
How many people do QBE employ?
11,700
63
What is the definition of Insurable interest?
The legally recognised relationship between the insured and the subject matter of the insurance
64
What is the definition of utmost-good faith ?
The positive duty voluntarily to disclose, accurately and fully all facts _____ to the risk whether _____ or not
Material
| Requested
65
What is this principle?
The duty placed on the insured to take all possible steps to minimise the loss to the insured property after an unforeseen events
Loss minimisation
66
Insurance vs assurance
Insurance is for things that may happen and assurance is for things that will definitely happen
67
What words represent the letters in SMART?
```
S- specific
M- measurable
A-achievable
R-relevant
T-time based
```
68
What percentage of professional development is usually obtained through on the job experience?
70%
69
What are the two helpful tools to help you start your development plan?
SWOT
| GROW
70
Your password for accessing the QBE network must be a minimum of how many characters?
8
71
What form of social engineering occurs during a phone call?
Vishing
72
MTA
mid term adjustment
73
Name one trade sector that is outside the appetite for commercial combined policies?
Leisure and sport
Waste and recycling
Bars/ restaurants
74
How many manual workers can the tradesman product accommodate?
15
75
What do the letters in SWOT mean?
Strengths
Weaknesses
Opportunities
Threats
76
What do the letters in Grow mean?
Goal
Reality
Options
Will
77
What are the three things we should remember when practising good email etiquette?
Professionalism
Efficiency
Protection
78
What form of social engineering occurs using an email to try to gather personal information?
Phishing
79
CC
Commercial combined
80
COA
Change of adress
81
GSSC
Global shared service centre
82
P&L
Profit and loss
83
What is the standard money limit on the premises during business hours and in transit provided under the policy?
£750
84
What is utmost good faith definition?
The positive sure voluntarily to disclose accurately and fully all facts material to the risk whether requested or not
85
What is the definition of proximate cause?
The active, efficient ____ that sets in motion a train of events which brings about a result without intervention of any force started and working actively from a new and _____ source
Cause
| Independent
86
Name two strategic priorities?
```
Portfolio optimism
Sustainable growth
Being the enterprise together
Modernise our business
Our people
Our culture
```
87
What are four of the QBE inclusion and diversity networks?
```
Open mind
Workability
Pride
Mix
Circle
```
88
Where do the letter QBE originate from?
Queensland
Bankers and traders
Equitable
89
What is the name of the employee assistance programme available to QBE employees?
Validium
90
What % is UK IPT?
12%
91
What is the web based quote engine that links into acturis where brokers can obtain a quote for any of SME’s e-trade products?
Fast flow
92
What are performance checks?
Checks carried out to assess the standard of work being undertaken
93
Why do we conduct performance checks?
```
Comply with regulation
Minimise the risk to the business
Audit control requirement
Ensure processes are followed
Assess decision making
Address errors with team members
```
94
What sample size of QC is checked whilst training?
10 risks
95
Give two area that are subject to a technical check
Risk
Underwriting authority
Price
Compliance
96
Give two areas that are subject to QC
```
DPA
Full notes
Process
Spelling and grammar
Ownership
Negotiation
Expectation
Business awareness
MID
welcome and closing
```
97
What products have live chat functionality?
```
Mini fleet
Cyber
Contractors
Minibus
Business combined
```
98
Give 1 reason why we use live chat
Efficiency
To ensure our service line we are offering is in line with competitors
Give a range of options for communication
99
Give a piece of information which should not be disclosed on live chat
Name & DOB
| Name & Conviction
100
Name two responsibilities a team leader has
Training
Development
Coaching
Workflow
Team meetings
Projects
Huddles
MID regulations
Quality checking
Complaint handling
101
Name two responsibilities an underwriter has
Peer reviews
Feed back to TL
Technical coaching
Broker auditing
Underwriting audits
Projects
Underwriting referrals
Review of KPI
102
What are the two main e trade platforms our brokers use to trade with QBE
Fast flow
| Acturis
103
In Acturis what is the section called where you can see all your tasks?
Task management
104
What is the section in Acturis where you can find all your attachments?
Electronic file
105
What is cyber safety?
Safe and responsible use of ICT
106
What is the definition of material fact?
A fact that an insurer would regard as likely to influence the assessment and acceptance of a risk
107
What is the definition of excess?
A set contribution paid towards a claim made under an insurance policy
108
Who completes technical audits?
Underwriters
109
Who are the 5 team leaders?
```
Nicola walker
Catherine worrall
Emma young
Bex lightfoot
Mathew Crain
```
110
Name one trade sector that i s out the appetite for commercial combined policies?
Leisure and sport
Waste and recycling
Food manufacturing
Storage and distribution
111
Name three target areas for tradesman?
```
Electrical contractors
Building contractors
Tilers
Plastering
Painting and decorating
```
112
Name two trade sectors outside of the appetite on contractors?
```
Asbestos
Waste and recycling
Security and fire
Scaffolding and roofing
Rail
Crop spraying
```
113
On the office product there are 5 optional covers sections available can you name all five?
```
All risks
Terrorism
Buildings
Computer breakdown
Personal accident
```
114
Name one type of business the office product is not suitable for?
Manual work away exposures
| Money lenders
115
Quotes in Acturis can return in several states is what does status of obtained mean
This is the guaranteed quote and can be accepted
116
Name one trade sector the office package is aimed at?
Professional
Administrative
Non manual trades
117
Why ask DPA questions?
Protect customers
Protect ourselves
It’s the law
118
How many DPA questions do you need to ask a broker?
3
```
Name
Policy number
Address
Postcode
Policy title
```
119
How do you build rapport?
```
Being friendly and welcoming
Show an interest
Use names
Show empathy
Mirror their words
```
