Ch : 9 Compulsory Insurance And the Rights Of Third Parties Flashcards
In the UK, who acts as an insurer in its own right by providing certain benefits for individuals
The Goverment
Which benefits in the UK..govt provides
Welfare benefits
Unemployment benefits
Retirement benefits
What is the aim of uk govt by insuring certain risks , relaying legal liability pr negligence compulsory through legislation
To make sure that funds are available to compensate the innocent of many types of accident
In respect of pvt individuals which insurance is compulsory in UK
Motor Insurance and public liability insurance in respect of the ownership of dangerous wild animals and or dangerous dogs .
Which insurance is compulsory as a liability insurance for operators of nuclear reactors
Marine pollution liability
Main reasons why certain forms of insurance are compulsory in particular cases
To provide funds for compensation
In response to national concerns
Which act made it compulsory for employers in great Britain to effect EL insurance
The Employers Liability (Compulsory Insurance ) Act 1969
The minimum required limit of indemnity for Employers liability in UK is
£ 5 million
Which act stipulates that its illegal to cause or permit the use of vehicles on a public road unless an insurance policy is in force covering TPD and TPBI or death
The Road Traffic Act 1988
Who plays a key role in handling motor insurance claims for compulsory motor insurance
MIB ( Motor insurance bureau)
Riding establishment Act 1970
Is that all proprietors of riding establishment must have public liability insurance
Who should be satisfied as the adequacy of the insurance under liability insurance for dangerous wild animals or dangerous dogs
Local Authority
PI insurance is compulsory for certain professions who are authorised by the FCA
Solicitors
Accountants
Insurance intermediaries
Who do not need to have PI insurance
Appointed representative and introducer representative
Who requires insurance intermediaries to hold liability insurance in respect of financial loss suffered by TP caused by their professional negligence
FCA
