Random Flashcards
Insurance risk can be measured in terms of:
Likelihood and severity of loss
The basis of the relationship between a FCA authorised intermediary and an insurer is set out in a(n)
Terms of business agreement
The CUE is primarily concerned with
Personal lines claims
Theft insurance has been arranged on a shop premesis where the proprietor regularly keeps cash, not in a safe on the premesis overnight. If there is a theft what would be the typical limit of indemnity for the cash?
500
With which insurance principle would you associate the concept of rateable proportion?
Contribution
A tree is uprooted in a storm and caused considerable property damage to a house. What would typically be excluded from the claim by policy wording?
Damage to a boundary fence
The key features document is best described as
Client specific
Which body is responsible for regulating the use of data in the uk?
The information commissioners office
The section of an insurance policy which sets out the cover in detail is known as the
Operative clause
Alicia has a cover note for her motor insurance. This is most likely to mean that:
She had appropriate insurance and is awaiting a policy to evidence this
The single article limit under the contents section of a household policy is expressed as a percentage of the total contents sum insured. The figure is most likely to be
5%
Reinsurance contract are liable to insurance premium tax at the rate of
12%
Where a motor policy does not provide indemnity to a third party because of a breach of its terms, an unsatisfied court judgement will be met by the
Domestic agreement insurer
The replacement of locks extension under theft insurance allows the replacement of locks
Following the theft of keys
Under the contract certainty requirements, consumers who Renew a policy must be provided with their renewal documentation no later than
seven working days beyond the renewal date
