IF3.7 Related Services

Question 1

Helplines

Answer 1

freephone’s operating 24hours a day providing emergency assistance and expert advice to insurance policyholders

Question 2

Helplines used in private motor insurance

Answer 2

assistance in the event of a vehicle breakdown

Question 3

Helplines for household insurance

Answer 3

• provide legal advice, legal costs services
• emergency services which provide immediate assistance in emergencies e.g. plumbers

Question 4

Helplines in travel insurance

Answer 4

multi-lingual helplines to advise and organise necessary medical treatment or repatriation (getting the policyholder back home)

Question 5

Consumer Rights Act 2015 for helplines

Answer 5

use of premium rate phone number has been prohibted.

Question 6

Authorised repairers and suppliers

Answer 6

When the insurer has a repairer that would attend a callout and submit their invoice directly to insurers.

Question 7

benefits of Authorised repairers and suppliers

Answer 7

• no need to obtain estimates
• provision of loan cars
• collection of vehicles

Question 8

3 steps in managing risk

Answer 8

1. risk identification
2. risk analysis
3. risk control

Question 9

risk surveyor

Answer 9

the eyes an ears of the insurer, identifying risks which the insured can either eliminate or control

Question 10

Two types of risk control measures

Answer 10

1. physical
2. financial

Question 11

Services that are available (either from the insurer or a third party)

Answer 11

1.Helplines
2. Authorised repairers
3. Risks control and advice
4. Uninsured loss recovery services
5. legal expenses
6. claims management companies

Question 12

What can’t you recover via uninsured loss recovery

Answer 12

the loss of a no claims discount

Question 12

Rules for ancillary Products

Answer 12

• The consumer must opt in
• they must be cancelled in the even the main policy is cancelled.

Question 12

Legal Expenses service

Answer 12

Normally an add on for insurance that with provide indemnity for legal expenses in pursuing an uninsured loss claim.

Question 13

Claims management companies

Answer 13

Act as intermediaries between claimants and the companies being claimed against (normally for personal injury claims)
Normally a no win no fee, and the fee is in excess of 20%.

Question 14

Define uninsured loss

Answer 14

any loss that is not covered directly by insurance and can range from a simple policy excess to extensive personal injury.

Question 15

Physical Control measure examples

Answer 15

approved locks fitted to reduce the chance of theft

Question 16

Financial Control measure examples

Answer 16

imposing an excess & taking out reinsurance

Question 17

Risk analysis

Answer 17

examining past data to evaluate a risk

Question 18

Risk identification

Answer 18

Discover current and potential risks.
identify the possible benefits and drawbacks of a risk to understand it.

Question 19

Uninsured loss recovery services

Answer 19

insurance intermediaries (or solicitors or specialist firms) may provide assistance in respect of the recovery of an uninsured loss.

Question 20

Claims management companies

Answer 20

specialist companies which pursue personal injury claims.
Act as intermediaries between claimants and the company being claimed against.