DR LIABILITY Flashcards
1
Q
WHAT IS DR LIABILITY
A
THE COST OF COVERING OUR 3RD PARTY CLAIMS- (DOES NOT INCLUDE OUR CARS REPAIR COSTS AND ONLY WITH 3RD PARTY COVER)
2
Q
HOW IS DR LIABILITY CALCULATED
A
ON A 3 YEAR CLAIM HISTORY BASED ON THE FREQUENCY AND SEVERITY
3
Q
HOW DO YOU CONTROL DR LIABILITY?
A
-FNOL CONVERSATION
-PROPER UNDERWRITING
-U21 PROCESS
-RCRD
-LEXUS
-INSURANCE DETAILS
4
Q
WHAT SHOULD YOU MENTION IN FNOL CONVERSATION
A
-CALL AT THE SCENE BY EOD
-OBTAIN FULL TP DETAILS:NAME,REG,NUMBER AS MINIMUM
-EXPLAIN A TP CAN BE A PERSON,PROPERTY,VEHICLE
-NEED TO REPORT REGARDLESS OF DAMAGE/FAULT
-FAILURE TO REPORT ON THE DATE OF LOSS WILL MAKE CUSTOMER LIABLE FOR ALL CLAIM COSTS
5
Q
What effects how much you pay for DR liability?
A
UTE- higher Ute = more you pay
Fleet size
