Card Set Information

2011-04-07 21:20:13

April 03 Sample Exam
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  1. Identify 5 pieces of info on a pink card.
    • (x2 insurer and insured)
    • (description)
    • (policy #)
    • (effective/expiry date)
  2. Define negligence.
    • omission to do or not do something a reasonable & prudent person would or would not do
    • if proven negligent then you are legally liable
    • ie. tailgating resulting in rear-ending
  3. Describe burden of proof.
    • onus probandi
    • the burden of proof (onus of proof) lays on the person doing the alleging...the plaintiff
    • waived if its a pedestrian or cyclist - onus on motorist
  4. Describe subrogation.
    • right to recover from responsible party
    • ie. loss transfer 4,500 kg and truck
  5. Describe Absolute Liability.
    • When: insured violates policy condition(s)
    • Why: protects innocent TP's from delays; and ensures that innocent TP's not prejudiced by insured's actions
    • What: insurer only obligated to pay minimum limits
    • How: insurer pays for TP but will request the money back from the insured
    • Example: drunk driving insured
    • Best defence: thorough research before binding coverage
  6. 6 Additional agreements of insurer:
    • 1. reimburse out-of-pocket expenses for immediate medical aid to TP's
    • 2. investigate, negotiate & settle claims
    • 3. defend any civil action brought against insd, even if groundless
    • 4. pay court costs
    • 5. pay up to the minimum limits of jurisdiction
    • 6. not use an Ontario defence that wouldn't be available in other jurisdictions
  7. 2 agreements of insured:
    • 1. Notify insurer within 7 days
    • 2. Do not assume liability
  8. 8 Specified Perils:
    • 1. (fire)
    • 2. (theft or attempted theft)
    • 3. (lightening)
    • 4. (earthquake)
    • 5. (explosion)
    • 6. (riot or civil disturbance)
    • 7. (windstorm)
    • 8. (forced landing of aircraft)
  9. 4 types of theft not covered:
    • 1. theft by person who has legal possession under a written agreement (ie. lease)
    • 2. change of ownership that is agreed to, even is brought about by trickery or fraud (ie. you sell car, cheque bounces, cannot claim)
    • 3. theft by someone living in insured's household
    • 4. theft by insured's employee
  10. Describe Facility Association.
    • unincorporated, non-profit association of insurers
    • ensures immediate availability of a market
    • ensures equitable sharing among insurers
    • "residual market" for those who do not meet u/w guidelines for the "voluntary market"
    • u/w & claims functions performed by service carriers
  11. Why does Facility not exist in provinces with government auto programs?
    not necessary b/c the government insurers provide basic coverage to all drivers in a non-discriminatory manner