Chapter 7- Non Insurance Services Flashcards
What do private motor helplines do
A 24 hr helpline, offering their policyholder the ability to phone control centres anytime for assistance. 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
Repatriate the insured if it takes place abroad
What do pet helplines do
Help finding a Vet
Legal advice
Bereavement counselling
Replace the pets
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 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
Usually household policy to replace property
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 effect the balance sheet such as competition, labour relations etc
What is the insurer concerned about in regards to risk control
The areas that have a direct impact upon risks proposed for insurance
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 for risk management
The surveyor will consider aspects that is 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 would be thieves
EML assessment
What’s the insurers role in money for risk control
The sums involved
The method and frequency of transit
The number of cars/ people involved
The routes used and are they varied
Use of specialist security firms
What’s the insurers role in EL 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
Labelling for clarity
Packaging
Warning notices
Quality control
What’s the insurers role in 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 doAssociation of British insurers 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 requirements in relation to risk management
Insurers insist on these to bring the risk up to a reasonable standard
What legal right do Third Party Motor Only Cover have to recover loss from another person
The policyholder May be entitled to recover the amount of the damage from th other motorist
What legal right do Policyholders have to recover 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 loss from another person in regards to hire car
If they have to hire a car when the accident wasn’t their fault they may want to recover th cost from the responsible party
What legal right do Policyholders have to recover 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
Persue 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 its being repaired
B) personal injury
C) policy excess
D) repairs to the insured vehicle
D) repairs to the insured vehicle
When we talk (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 whist 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 is the most common non-insurance services available?
Helplines and advice
Authorised repairers and suppliers
Risk control/advice
Uninsured loss recovery services
What types of advice/or assistance are provided in association with household insurance?
The types of advice and/ or assistance include legal advice, emergency devices and glazing services
What are the main benefits of approved motor repairer schemes?
Collection and delivery of the vehicle
Non need to obtain repair estimates
Loan car provision
For business interruption insurance, identify one area where an insurer may provide advice or recommendations?
Bottlenecks in the production processes
What are the key elements or property surveyors report?
- 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
What are the areas in which an insurer will provide advice for money insurance?
- type of safe
- methods of transit
- numbers of cars/people involved
- varying routes
- use of specialist firms for transit
