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QBE > Questions > Flashcards

Questions Flashcards

1
Q

Name four ways Subrogation arises?

A

Torte
Statue
Subject matter
Contract

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2
Q

What is the CII definition of indemnity?

Indemnity is the _______ compensation sufficient to place the insured in the same position after a loss as they enjoyed ______ before it

A

Financial

Immediately

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3
Q

Give three reasons people buy commercial insurance?

A

Legal requirement
Keep business in business
Protection against litigation

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4
Q

Which is this principle?

The active, efficient cause that sets in motion a train of events which brings about a result without intervention of any force started and working actively from a new and independent source

A

Proximate cause

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5
Q

Which principle of insurance is this?

The right of an insurer to call upon others similarly but not necessarily equally liable to the same insured to share the cost of an indemnity payment

A

Contribution

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6
Q

Name two underwriting managers for motor and P&C Stafford

A

Mark Thomason

Lauren Barry

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7
Q

Which two types of insurance are a legal requirement in the uk?

A 
Motor insurance (RTA) 
Employers liability
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8
Q

Can you name two work streams that the EE team focus on?

A 
Reward and recognition 
Inclusion and diversity 
Charity and fundraising 
Communication 
Development and networking 
Well-being and green 
Sports and social
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9
Q

What is the EOs definition of a complaint?

A

An expression of dissatisfaction with the oral or written by the justified or not

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10
Q

What is the retention period for motor policies?

A

20 years

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11
Q

Name the three sectors in the insurance market?

A

Buyers
Intermediaries
Providers

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12
Q

If you receive a Calendar invite for a meeting or event you cannot attend what should you do?

A

Decline advising why

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13
Q

Who can a complaint refer to if they remain dissatisfied following QBEs complaint handling?

A

FOS- financial ombudsman service

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14
Q

How much do the FOS charge when they start a file following a complaint been referred to them?

A

£550

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15
Q

Who do QBE have to report complaints information to?

A

FCA- financial conduct authority

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16
Q

Who are the partner charities for 2020 to 2022?

A

Crisis and mind

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17
Q

What does GDPR stand for?

A

General data protection regulation

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18
Q

BI

A

Business interruption

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19
Q

DPA

A

Data protection act

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20
Q

CRES

A

Corporate real estate services

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21
Q

FOS

A

Financial ombudsman service

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22
Q

NWP

A

Net written premium

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23
Q

TOA

A

Transfer of agency

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24
Q

EO

A

European operations

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25
Q

What is a peril?

A

Something that gives rise to a loss

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26
Q

What is a hazard?

A

Something that influences a peril

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27
Q

What is the retention period for public liability policies?

A

100 years

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28
Q

What is the QBE application that holds all your personal information allows you to book a holiday called?

A

Work day

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29
Q

QBE was founded in Australia in what year was this?

A

1886

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30
Q

What is QBEs vision for 2022?

A

To be the most consistent and innovative risk partner

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31
Q

What is the dictionary definition of insurance?

An______by which a company or state undertakes to provide a _____of compensation for specified loss, damage, illness or death in return for a ____of specified premium

A

Arrangement
Guarantee
Payment

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32
Q

What is an excess?

A set _______ paid towards a claim made under an insurance _____

A

Contribution

Policy

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33
Q

What is the definition of material fact?

A fact an insurer would regard as likely to influence the _____ or ______ of a risk

A

Assessment

Acceptance

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34
Q

What is the CIIs definition of Subrogation?

Subrogation is the right of one person having ____ another under a ____ requirement to do so, to stand in the place of that other and avail themselves of all the rights and _____ of that other

A

Indemnified
Legal
Remedies

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35
Q

Can you name two members of the EE team?

A 
Pam Jackson
Kirsty Hemmings 
Michelle Oldcorne 
Pam lee 
Rocky Rai
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36
Q

Who are the team leaders of P&C?

A

Nicola walker

Catherine Worrall

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37
Q

Name the seven principles of insurance?

A 
Insurable interest
Proximate cause
Contribution 
Subrogation 
Loss minimisation 
Indemnity
Utmost good faith
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38
Q

Who is the underwriting operations manager?

A

Michelle Oldcorne

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39
Q

Name three forms of communication used in the Stafford office?

A 
Team meetings 
Lunch and learns 
Loos news
Desk drops 
Email
Coffee with 
Staff presentations
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40
Q

Give two acceptable ways of signing off an email?

A

Many thanks
Kind regards
Best regards

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41
Q

Employee of the month falls under what work stream?

A

Reward and recognition

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42
Q

UW

A

Underwriter

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43
Q

Name two trade sectors outside of appetite on contractors?

A 
Asbestos 
Waste and recycling 
Haulage and transport
Security and fire 
Scaffolding and roofing 
Rail 
Crop spraying
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44
Q

What is the maximum contractors all risks limit we can offer?

A

£2.5 million

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45
Q

Contents is the standard cover under the office package- Can you name to covers that would fall under the contents coverage?

A 
Office contents 
glass
Computers 
Money 
Trade samples
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46
Q

Name the two standard covers under the property owners product?

A

Building and legal expenses

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47
Q

What is the legal minimum EL cover by law and what is QBs standard limit?

A

Minimum £5 million provides £10 million as standard

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48
Q

Which two bodies regulate the insurance industry in the UK?

A

Financial conduct authority

Prudential regulation authority

49
Q

Name two things at the employee assistance program can help with?

A 
Stress and emotional
Legal matters
Money advice 
Debt counselling 
Health and well-being 
Child care 
Elderly care
50
Q

Under utmost good faith give two facts which do not need to be disclosed?

A 
Facts of law
Spent convictions 
Facts of public knowledge 
Facts which lessen the risk 
That’s where the insurer has wave at the right to information
51
Q

Who is the team leader of the fleet department?

A

Matthew Craig

52
Q

Who is the chief operating officer for European operations?

A

Jo Gordon

53
Q

How many countries does QBE have offices in?

A

27

54
Q

What does SME stand for?

A

Small to medium enterprises

55
Q

What premium amount are SME policies usually below?

A

£10k

56
Q

Name the 7 QBE DNA elements and the hashtags?

A 
Team #together 
Fast paced #rampitup
Customer focused #outsidein 
Inclusive #valueallviews 
Technical expert #knowyourstuff
Courageous #dotherightthing 
Accountable #ownitnow
57
Q

In the Stafford office what day is the alarm tested?

A

Thursday morning

58
Q

What is QBEs purpose?

A

To enable a more resilient future

59
Q

Name two fire marshals?

A 
Bex lightfoot
Hannah cooper
Beth Costello 
Lauren cross
Hayleigh Blackburn
60
Q

What time should we be logged on ready to work?

A

9am

61
Q

Where is the assembly point?

A

Alms houses

62
Q

How many people do QBE employ?

A

11,700

63
Q

What is the definition of Insurable interest?

A

The legally recognised relationship between the insured and the subject matter of the insurance

64
Q

What is the definition of utmost-good faith ?

The positive duty voluntarily to disclose, accurately and fully all facts _____ to the risk whether _____ or not

A

Material

Requested

65
Q

What is this principle?

The duty placed on the insured to take all possible steps to minimise the loss to the insured property after an unforeseen events

A

Loss minimisation

66
Q

Insurance vs assurance

A

Insurance is for things that may happen and assurance is for things that will definitely happen

67
Q

What words represent the letters in SMART?

A 
S- specific 
M- measurable 
A-achievable 
R-relevant 
T-time based
68
Q

What percentage of professional development is usually obtained through on the job experience?

A

70%

69
Q

What are the two helpful tools to help you start your development plan?

A

SWOT

GROW

70
Q

Your password for accessing the QBE network must be a minimum of how many characters?

A

8

71
Q

What form of social engineering occurs during a phone call?

A

Vishing

72
Q

MTA

A

mid term adjustment

73
Q

Name one trade sector that is outside the appetite for commercial combined policies?

A

Leisure and sport
Waste and recycling
Bars/ restaurants

74
Q

How many manual workers can the tradesman product accommodate?

A

15

75
Q

What do the letters in SWOT mean?

A

Strengths
Weaknesses
Opportunities
Threats

76
Q

What do the letters in Grow mean?

A

Goal
Reality
Options
Will

77
Q

What are the three things we should remember when practising good email etiquette?

A

Professionalism
Efficiency
Protection

78
Q

What form of social engineering occurs using an email to try to gather personal information?

A

Phishing

79
Q

CC

A

Commercial combined

80
Q

COA

A

Change of adress

81
Q

GSSC

A

Global shared service centre

82
Q

P&L

A

Profit and loss

83
Q

What is the standard money limit on the premises during business hours and in transit provided under the policy?

A

£750

84
Q

What is utmost good faith definition?

A

The positive sure voluntarily to disclose accurately and fully all facts material to the risk whether requested or not

85
Q

What is the definition of proximate cause?

The active, efficient ____ that sets in motion a train of events which brings about a result without intervention of any force started and working actively from a new and _____ source

A

Cause

Independent

86
Q

Name two strategic priorities?

A 
Portfolio optimism 
Sustainable growth 
Being the enterprise together 
Modernise our business
Our people
Our culture
87
Q

What are four of the QBE inclusion and diversity networks?

A 
Open mind
Workability 
Pride
Mix 
Circle
88
Q

Where do the letter QBE originate from?

A

Queensland
Bankers and traders
Equitable

89
Q

What is the name of the employee assistance programme available to QBE employees?

A

Validium

90
Q

What % is UK IPT?

A

12%

91
Q

What is the web based quote engine that links into acturis where brokers can obtain a quote for any of SME’s e-trade products?

A

Fast flow

92
Q

What are performance checks?

A

Checks carried out to assess the standard of work being undertaken

93
Q

Why do we conduct performance checks?

A 
Comply with regulation 
Minimise the risk to the business
Audit control requirement
Ensure processes are followed 
Assess decision making
Address errors with team members
94
Q

What sample size of QC is checked whilst training?

A

10 risks

95
Q

Give two area that are subject to a technical check

A

Risk
Underwriting authority
Price
Compliance

96
Q

Give two areas that are subject to QC

A 
DPA
Full notes 
Process
Spelling and grammar 
Ownership
Negotiation 
Expectation 
Business awareness 
MID
welcome and closing
97
Q

What products have live chat functionality?

A 
Mini fleet
Cyber
Contractors
Minibus
Business combined
98
Q

Give 1 reason why we use live chat

A

Efficiency
To ensure our service line we are offering is in line with competitors
Give a range of options for communication

99
Q

Give a piece of information which should not be disclosed on live chat

A

Name & DOB

Name & Conviction

100
Q

Name two responsibilities a team leader has

A

Training
Development
Coaching

Workflow
Team meetings
Projects
Huddles

MID regulations
Quality checking
Complaint handling

101
Q

Name two responsibilities an underwriter has

A

Peer reviews
Feed back to TL
Technical coaching

Broker auditing
Underwriting audits

Projects
Underwriting referrals
Review of KPI

102
Q

What are the two main e trade platforms our brokers use to trade with QBE

A

Fast flow

Acturis

103
Q

In Acturis what is the section called where you can see all your tasks?

A

Task management

104
Q

What is the section in Acturis where you can find all your attachments?

A

Electronic file

105
Q

What is cyber safety?

A

Safe and responsible use of ICT

106
Q

What is the definition of material fact?

A

A fact that an insurer would regard as likely to influence the assessment and acceptance of a risk

107
Q

What is the definition of excess?

A

A set contribution paid towards a claim made under an insurance policy

108
Q

Who completes technical audits?

A

Underwriters

109
Q

Who are the 5 team leaders?

A 
Nicola walker
Catherine worrall 
Emma young
Bex lightfoot 
Mathew Crain
110
Q

Name one trade sector that i s out the appetite for commercial combined policies?

A

Leisure and sport
Waste and recycling
Food manufacturing
Storage and distribution

111
Q

Name three target areas for tradesman?

A 
Electrical contractors 
Building contractors
Tilers 
Plastering
Painting and decorating
112
Q

Name two trade sectors outside of the appetite on contractors?

A 
Asbestos 
Waste and recycling 
Security and fire
Scaffolding and roofing 
Rail 
Crop spraying
113
Q

On the office product there are 5 optional covers sections available can you name all five?

A 
All risks 
Terrorism 
Buildings
Computer breakdown 
Personal accident
114
Q

Name one type of business the office product is not suitable for?

A

Manual work away exposures

Money lenders

115
Q

Quotes in Acturis can return in several states is what does status of obtained mean

A

This is the guaranteed quote and can be accepted

116
Q

Name one trade sector the office package is aimed at?

A

Professional
Administrative
Non manual trades

117
Q

Why ask DPA questions?

A

Protect customers
Protect ourselves
It’s the law

118
Q

How many DPA questions do you need to ask a broker?

A

3

Name 
Policy number 
Address
Postcode 
Policy title
119
Q

How do you build rapport?

A 
Being friendly and welcoming 
Show an interest
Use names 
Show empathy 
Mirror their words

QBE (28 decks)

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