7 - Non - insurance services Flashcards
What do private motor helplines do
Provide 24 hr helpline.
When help arrives, insured has to pay for labour and parts.
What do household helplines do?
Legal advice/ legal costs services
Emergencies like roof damage, etc.
Glazing services - breakage of glass, etc.
What do travel helplines do
Medical emergency services (24hrs)
Repatriate the insured if it takes place abroad
What do pet helplines do
Help finding a Vet
Legal advice
Bereavement counselling and replace the pet when appropriate
What do apps do in respect of helplines
Helps policyholder gets repairs carried out quickly
The insurer can control the standard of work
Insurer can control costs involved in the repair
What are authorised repairers?
Usually applied to the motor; where they should be competent, fairly priced and that a long distance tow should be avoided
What are the benefits of approved repairer schemes for the motor policyholder include
Collection and delivery of the vehicle
No requirement to obtain repair estimates
Provision of a loan car whilst repairs are carried out
What are Authorised suppliers
They are used by insurers when they wish to exercise their right to replace property, particularly household goods under the contents policy.
What are the benefits of authorised suppliers
Insured obtains the benefits of the guarantees provided
Insurers benefit from the preferential rates
No need for negotiation over price
Why are insurers and intermediaries willing to become involved in providing advice in areas of risk control?
Reduces the number and cost of claims
What is the insured concerned about in regards to risk control?
Things that affect the balance sheet such as competition, labor relations, etc.
What’s the insurers’ role in material damage for risk control
The management and housekeeping standards
The adequacy of the sum insured
The estimated max loss from an insured peril
Risk requirements
Risk recommendations
What’s the insurers’ role in BI for risk control in risk management
The surveyor will consider aspects that are unique to BI Cover such as bottlenecks in the production process
What’s the insurers’ role in theft for risk control
Improving physical security
Improving detection or methods of deterring thieves
EML assessment
What’s the insurers’ role in money for risk control
Physical hazards - guarding of dangerous machinery
Moral hazards - T&C’s of employment Adequacy of training Cleanliness Control of smoking Health and safety requirements Staff relations Storage arrangements for dangerous substances
What’s the insurers’ role in PL for risk control
Work away from the premises
What’s the insurers’ role in product liability for risk control
Recommendations or requirements on:
Storage arrangements that are consistent with shelf-life products Labeling for clarity Packaging Warning notices Quality control
What’s the insurers’ role in the motor fleet for risk control
Analysis of claims by type, time, use, age or any common factor to recommend changes
Reviewing the management of the fleet
Recommending advanced driving or defensive driving courses
What’s the insurers role in engineering for risk control
Most specialist surveyors
Carry out inspections advise on requirements and recommendations relating to the physical condition of the particular plant or machinery
What work Association of British insurers do with risk management
They provide literature to advise people on safety
How does the fire protection association work with risk management
Provides advice in specialist areas, it makes a charge for its publications, provides a fire risk assessment guide
What are the requirements in relation to risk management?
Insurers insist on these to bring the risk up to a reasonable standard
What legal right do Policyholders have to recover the loss from another person in regards to excess?
In the event of damage caused by someone else the insurers will wish to recover that excess from the person responsible
What legal right do Policyholders have to recover the loss from another person in regards to hiring car
If they have to hire a car when the accident wasn’t their fault they may want to recover the cost from the responsible party
What legal right do Policyholders have to recover the loss from another person in regards to personal Injuries?
If negligence can be proved then you can claim for injuries
What is an accident management company?
Pursue claims for uninsured loss recovery where they feel that their client is completely blameless
With which of the following types of loss would the uninsured loss recovery service under a comprehensive motor policy not be needed by the insured:
A) loss of use of this vehicle whilst it’s being repaired
B) personal injury
C) policy excess
D) repairs to the insured vehicle
D) repairs to the insured vehicle
When we talk about
(a) the number of claims and
(b) their individual cost, this is another way of describing terms gang we defined very early on in course IF1 l. What are these two terms?
Frequency is the rage at which claims occur (number of claims); severity refers to their cost
With which of the following types of loss would the uninsured loss recovery service under a comprehensive motor policy?
A) loss of use of the vehicle whilst it is being repaired
B) personal injury
C) policy excess
D) repairs to the insured vehicle
D
The repairs to the insured vehicle will be covered under the motor liability policy itself; an uninsured loss recovery service is only concerned with uninsured losses rather than with any loss which is insured elsewhere
What are the most common non-insurance services available?
Helplines and advice
Authorized repairers and suppliers
Risk control/advice
Uninsured loss recovery services
What are the key elements of property surveyors’ reports?
- the surveyors view on management and housekeeping standards
- their view as to the adequacy of the sum insured
- the estimated maximum loss from an insured peril
- risk requirements
- risk recommendations
For business interruption insurance, identify one area where an insurer may provide advice or recommendations?
Bottlenecks in the production processes
What are the areas in which an insurer will provide advice for money insurance?
- the type of safe
- methods of transit
- numbers of cars/people involved
- varying routes
- use of specialist firms for transit
