Non-insurance Services Flashcards
What is the main benefit to the insurer of providing a 24 hour glazing service to its policyholders?
Control of the potential claim
When we talk about the number of claims and their individual cost this is another way of describing 2 terms what are they?
Frequency and severity. Frequency is the rate at which claims occur so the number of times. Severity refers to the cost.
What are the following types of loss would the uninsured loss recovery service under a comprehensive motor policy be needed by the insured?
Loss of use of the vehicle while it is being repaired.
Personal injury.
Policy excess.
Most insurers provide emergency assistant and/or experts advice to their policyholders often in the form of a…
24 hour helpline
What type of insurance might have 24 hour helplines?
Motor, household pet and travel insurance
What is the purpose of a 24 hour helpline ?
They assist the policyholder in getting repairs done. Speedily and help the insurer retain control of their costs and starts of work.
How are authorised repairers often used?
In motor insurance to ensure that the repairs are carried out economically and to a good standard.
How are authorised suppliers used ?
By insurers wishing to exercise their right to replace property, particularly household goods under a household policy
Why are insurers and intermediaries willing to offer advice on controlling risks?
I’m order to reduce the number and cost of claims
Risk control and advice what are insurers most concerned with?
Those areas that have some direct impact on the risks proposed for insurance, whilst some intermediaries may offer a more wide ranging service.
Risk control and advice, the information looked for and the approach taken by insurers depends on the ….
Class of insurance, the circumstances of the proposer and decisions made within the insurer as to what is an acceptable level of risk.
The Abi produces a range of consumer information material covering a number of insurance issues
The fire protection association provides advice and guidance in specialist areas.
What is an uninsured loss recovery service?
Where a policy holder has no insurance cover but has a legal right to cover losses from another person. Example where this is an excess on a policy. Look at motor insurance. Accident wasn’t your fault you only have 3rd party. The person at fault will cover the repairs for your car
Uninsured loss recovery service.
A number of insurers and intermediaries help their clients to recover such items.
Solitaire provide the same service their fees may be met by under a legal expenses policy or they may offer a no win no fee agreement.
What are 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 and or assistance are provided in association with household insurance ?
Legal advice emergency services and glazing services
What are the main benefits of approved motor repairer schemes?
Collection and delivery of the vehicle. No need to obtain repair estimates and loan car provision.
For business interruption insurance identify one area when insurer may provide advice or recommendations.
Bottlenecks in the production processes
What are the key elements of a property surveyors report?
The surveyors view on management and housekeeping standards. The view as to the adequacy of the sum insured. The estimated maximum loss from an insured peril. Risk requirements and 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 and use of specialist firms for transit.
Solicitors are most commonly involved in Pursing uninsured loss recoveries relating to….
Personal injuries
The main benefits to insurers of providing emergency helplines and advice include…
Control of claim costs
The geographical location is an important consideration when assessing the risk from which peril ….
Subsidence
In relation to the products liability risk for a food manufacturer, insurers are most likely to make risk control requirements or recommendations in relation to….
Quality control methods used in manufacture
Where an accident management company agrees to deal with an uninsured loss recovery claim on a no win no fee basis this means…
Successful claims result in a % of damages being retained by the accident management company.
The rating of fleet risks is usually based on….
The historical claims experience
The insured approach to risk management is concerned with..
Any issue that affects the balance sheet.
One of the benefits of a motor insurer having a panel of authorised repairs means…
Lower labour and parts costs.
Risk recommendations are…
Actions that are desirable to reduce the loss potential
From where may an insured obtain free advice regarding the cover provided under his motor insurance policy?
Insuers telephone helpline
Authorised motor repairers are approved by the
Insurer
Which type of personal insurance policy most commonly provides an uninsured loss recovery service?
A private motor insurance policy.
What is one of the main benefits to an insurer for providing a 24 hour glazing service to its policyholders?
The control of the claim
An insurer provide a 24 hour helpline to provide emergency assistance to its policyholders how is the helpline funded
The cost would be built into a policyholder standard premium
