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CAIB 1 > Chapter 6 > Flashcards

Chapter 6 Flashcards

1
Q

How might someone prove financial responsibility for a vehicle?

A
  • inter-province motor vehicle liability insurance certificate (pink card)
  • certificate of vehicle registration
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2
Q

Accident benefits may include:

A
  • medical payments
  • funeral expenses
  • disability income
  • death benefits
  • dismemberment/permanent impairment benefits
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3
Q

What information is on the S.A.F 1? (13)

A
  • applicant’s full name and postal address
  • policy period
  • vehicle particulars
  • insuring agreements
  • list of all drivers of the vehicle
  • physical/mental impairment
  • driver’s history
  • license history (6 years)
  • insurance history (3 years)
  • use of automobile
  • business use
  • ownership declaration
  • penalty/false statement
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4
Q

additional information to be provided to insurer

A
  • if purchased by the applicant, whether it is new, used, date and value (including equipment)
  • name and address of any lienholder or mortgagee
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5
Q

Three coverages available to insured under the insuring agreements (four in atlantic canada)

A

A- TPL
B- Accident Benefits
C- Loss of or Damage to Insured Automobiles
D- Uninsured and Unidentified coverage (atlantic canada)

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6
Q

What information is required for the list of driver’s?

A
  • name of all drivers
  • approximate percentage of use of the vehicle
  • number of years licensed
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7
Q

What information is required for driver history?

A
  • convictions history (3 years)

- accident and claims history (6 years)

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8
Q

The use of the automobile will directly affect the premium charged. Applicant must declare:

A
  • purpose for which vehicle is being used

- whether it is being used to commute, and the distance if so.

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9
Q

The insurer must be advised when the vehicle is being used for these business purposes:

A
  • rented/leased to others
  • carrying passengers for compensation or hire
  • carrying explosives or radioactive materials
  • carrying goods for compensation
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10
Q

Penalty for False Statement:

The right to recovery under the policy will be forfeited when the insured:

A
  • provides false description of insured automobile to the prejudice of the insurer
  • knowingly misrepresents the risk or fails to discuss required fact
  • breaches policy term
  • commits fraud
  • willfully makes false statement with regards to a claim.
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11
Q

pure no fault plan

A

removes right of legal action against owners/drivers who cause injury or death to others. (MB)

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12
Q

threshold no fault plan

A

legal action against responsible party not permitted unless a “threshold” met. May be monetary or relate to the severity of the injuries.

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13
Q

Who is insured on an S.P.F 1?

A
  • named insured
  • everyone else who personally drives the vehicle with express consent of the named insured
  • everyone who personally operates a part of the vehicle with express consent from named insured.
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14
Q

5 exclusions to third party liability

A
  • any liability which falls under WCB
  • loss/injury/death of any employee of insured operating/repairing vehicle
  • loss/damage to any property carried
  • any amount in excess of the limits stated
  • any liability arising from contamination of property carried in the automobile
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15
Q

Agreements of Insured

A
  • insured “constitutes and appoints the insurer as his irrevocable attorney”
  • insured also agrees to reimburse insurer for any amounts paid under the policy which the insurer would not otherwise be liable to pay under the policy
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16
Q

Exclusions to accident benefits

A
  • any person convicted of an impaired driving offence or while the ability to drive is impaired by alcohol or a drug
  • any persons driving who are neither authorized or qualified
17
Q

4 physical damage coverage options

A
  • all perils
  • collision/upset
  • comprehensive (exclusing collision/upset)
  • specified perils
18
Q

Coverage C - no deductible applied for losses caused by:

A
  • fire
  • lightning
  • theft of entire vehicle
  • collision with wildlife
19
Q

Exclusions to coverage c

A
  • loss/damage to tires
  • caused by conversion, embezzlement, theft, or secretion of any person in lawful possession of the vehicle under a mortgage, conditional sale, lease, or other agreement
  • caused by voluntary parting with the title or ownership, whether or not induced to do so by any fraudulent scheme, trick, or false pretense
  • caused by contamination of radioactive material
  • contents of trailers or to rugs or robes
  • tapes when detached
  • where the insured drives or operates vehicle while under the influence (g)
  • where the insured permits, suffers, allows or connives at the use of the vehicle by persons contrary to the provisions of g
20
Q

situations where the insurer would not waive its right of subrogation

A
  • those having possession for the purposes of garaging
  • those who have breached policy conditions
  • those convicted of alcohol related offence at the time the damage was caused
21
Q

loss of use by theft coverage is subject to the following:

A
  • reimbursement up to $25 per day for maximum of 30 days
  • payment made only for costs incurred to rent a substitute vehicle, taxicab, or bus fare.
  • 72 hour waiting period applies
22
Q

when injury/damage is caused by uninsured or unidentified vehicle, payment is made subject to these guidelines:

A
  • payment will not exceed the minimum statutory limits of liability insurance required in that province
  • when injury/damage occurs outside of that province, insurer is liable for least of the minimum in either the home or away province
  • insurer not liable when accident happens in another jurisdiction covered by an unsatisfied judgement fund or other similar fund
  • when other insurance exists, the amount paid by the agreement will be reduced so as not to exceed the max limits provided under this agreement
23
Q

the right of insured to recover damages and the amount of such damages shall be determined by any of the following methods:

A
  • written agreement between claimant and insurer
  • when requested by claimants, and agreed to by insurer, by arbitration
  • the court
24
Q

the following steps must be completed when making a claim for bodily injury/death

A
  • provide insurer with written notice within 30 days of the accident
  • deliver fully detailed proof of loss within 90 days of the accident
  • provide insurer with medical cert describing cause and nature of the accident and the probable duration of any disability
  • provide insurer with details of other insurance policies under which benefits may be received
25
Q

S.E.F. No. 19a - valued auto endorsement

A

most often used for antique, classic, or restored vehicles. appraisal required.

26
Q

S.E.F. no. 20 - loss of use endorsements

A

insurer pays reasonable expense for:

  • rental of substitute automobile
  • taxis, public transit
27
Q

S.E.F no. 27 - legal liability for damage to non-owned vehicles

A

coverage for loss or damage to non-owned vehicles (rental vehicle policy)

28
Q

S.E.F 32 - recreational vehicle endorsement

A

coverage for unlicensed, unqualified, or underage drivers while recreational vehicle is used off public highways

29
Q

S.E.F 43R - limited waiver of depreciation endorsement

A

(new vehicle protection sorta)

  • provides coverage againsts depreciation when loss/damage occurs within 24 months of purchasing vehicle. payment restricted to least of:
  • actual purchase price
  • manufacturer’s suggested list price at original date of purchase
30
Q

SEF 44 - family protection endorsement

A

coverage for bodily injury/death caused by uninsured motorist

31
Q

which form covers gov’t employees and salespersons who drive vehicle they don’t own and are not registered to them?

A

SPF no 2 - standard driver’s automobile policy

32
Q

which exposures to loss are covered by SPF 4 - standard garage auto policy

A
  • TPL
  • accident benefits
  • loss/damage to owned autos
  • uninsured motorist coverage
  • legal liability for damage to customers vehicle in the care/custody/control of applicant.

CAIB 1 (8 decks)

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