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Hirose187
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1a) State 5 types of vehicle included under the definition of "automobile" under the MSPF 1.
1) Described Automobile.
2) Newly Acquired Vehicle.
3) Temporary Substitute Vehicle.
4) Borrowed Vehicle.
5) Trailer.
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1b) How are newly acquired automobiles treated differently under Autopac than under the MSPF 1?
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1c) What uses of the automobile are excluded under the General Provisions, Definitions, and Exclusions of the MSPF 1? Are the same vehicle uses excluded from Autopac coverage?
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2a) What is the purpose of the Statutory Conditions and when do they apply?
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2b) Explain the distinction between a person being authorized to drive and being qualified by law to drive. What is the significance of this distinction?
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2c) What do the Statutory Conditions require an insured to do if the insured is involved in an automobile accident where a third party is injured and the third party's vehicle and insured's vehicle are damaged?
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2d) Summarize the Statutory Condition - Termination.
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3a) Where can vehicle owners in Manitoba obtain coverage for risks that are excluded from basic Autopac or have only limited coverage under basic Autopac?
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3b) What are endorsements and why are they used?
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3c) What options does a vehicle owner in Manitoba have for insuring the exposures presented in each of the following situations. Briefly describe the coverage available.
1) An individual has a mountain bike and a snowmobile that are used for recreation on off-highways trails.
2) An individual has restored a 20-year-old vehicle, and has an appraisal showing that it has a much higher value than other vehicles of the same year and model.
3) An individual notices that his vehicle is covered for "actual cash value" only and asks if coverage may be bought so that if his vehicle was destroyed, enough money would be paid to replace it with a new vehicle.
4) An individual works as a real estate sales agent, and wants to make sure she can rent a replacement vehicle if her vehicle is damaged and must be in the shop for a few days while repairs are made to it.
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4) Automobile insurance underwriting involves the process of risk screening and rate allocation. These processes go on at 2 levels. Describe and compare these 2 levels of underwriting.
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5a) How does automobile insurance underwriting in Manitoba differ from other provinces?
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5b) Why do signed and written applications not have the same significance in Manitoba that they have in other provinces?
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5c) How does a vehicle owner in Manitoba obtain basic Autopac coverage?
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