Managing Risk

Question 1

What is a conversion?

Answer 1

when we lose control of a vehicle, lose contact with renter for 3 days, after losing contact we send a pre demand letter, after 24 hours no contact we send a demand letter which demands return of vehicle within 72 hours

Question 2

what happens if a conversion goes through?

Answer 2

hits the uninsured losses account, hits branch 30 days after contract is closed, reported as stolen, wholesale value of car hits the branch if vehicle is not obtained

Question 3

how long does a motor vehicle strike stay on record for?

Answer 3

3 years

Question 4

how much damage $ qualifies as a strike?

Answer 4

$700

Question 5

strikes 1st-4th?

Answer 5

1st = memo
2nd = memo + defensive driving course
3rd = memo + 6 mos. probation for promotions
4th = up to termination

Question 6

what is negligent entrustment?

Answer 6

knowlingly renting to someone intoxicated or under the influence

Question 7

what is negligent maintenance?

Answer 7

knowlingly renting an unsafe vehicle or a critical LOFR/vehicle needing maintenance/vehicle needing new tires

Question 8

what is unlimited liability exposure?

Answer 8

negligent entrustment/maintenance
false arrest - renting a vehicle on hot sheet
employee collision and liability - when emp damages a rental

Question 9

employee safety/chemicals

Answer 9

gloves while using chemicals
goggles for wiper fluid

Question 10

What is comprehensive insurance?

Answer 10

accidents caused by nature

Question 11

what is subrogation?

Answer 11

collecting a third party’s insurance if damage is caused