8 Handling 3rd Party liability claims Flashcards
1
Q
Third party claims litigated in which court?
A
Civil
2
Q
Aim of litigation?
A
To compensate claimant for damages
3
Q
Building - damages =
A
cost of repair less betterment
4
Q
Is minor betterment ignored?
A
Yes
5
Q
2 forms of betterment
A
1, Better condition 2, Better facilities i.e sprinklers
6
Q
If profit suffers can loss of profit + loss of use be claimed
A
Yes, whilst repairs are carried out
7
Q
Non buildings
A
replacement less wear and tear
8
Q
Remedies
A
Injuntion or damages
9
Q
Are damages taxable
A
no
10
Q
Nominal damages
A
small - token gesture
11
Q
Exemplry / punitive
A
for defendants bad conduct (excluded for UK insurance
12
Q
General / unliquidated damages
A
Pain & suffering
13
Q
Special / liquidated damages
A
Can be calculated, i.e loss of earnings
14
Q
Tort =
A
restore to position
15
Q
Contract =
A
As if contract performed
