Motor Insurance
Understand insurance products and associated services: a. Know the features, extensions and exclusions of motor policies:- 1. Road Traffic Act (RTA) 1988:- a. Unlimited cover for bodily injury or death to Third Parties b. Third Party Property damage – £1,200,000 (this complies with the 5th EU Directive 2005) c. Claimants costs and expenses d. […]
Proximate Cause
i. Meaning defined by – Pawsey v Scottish union and National (1908) ii. First Cause iii. Dominant Cause 2. Insured Perils: i. Fire ii. Lightning iii. Explosion (domestic) 3. Excepted or Excluded Perils 4. Uninsured or Unnamed Perils 5. Modification by insurance policy wordings i. Directly or indirectly ii. Remotely iii. Whether war be declared […]
Duties of the insured after a loss
a. Introduction:- i. The claims department is the show window of the insurance company ii. Insurer is the custodian of pool of funds for ALL insureds iii. Both parties have an obligation to behave responsibly b. Describe the legal requirements for a valid claim. i. Onus of Proof – Insured:- 1. Loss occurred from a […]
Understand the general principles in the claims handling process.
a. Introduction:- i. The claims department is the show window of the insurance company ii. Insurer is the custodian of pool of funds for ALL insureds iii. Both parties have an obligation to behave responsibly b. Describe the legal requirements for a valid claim. i. Onus of Proof – Insured:- 1. Loss occurred from a […]
