Vehicle Insurance 04

Question 1

1. BODILY INJURY LIABILTIY COVERAGE

Answer 1

Pays damages for bodily injury or death resulting from an accident for which you are at fault and in most cases provides you with a legal defense. This coverage is subject to the terms, limits, and conditions of your policy contract.

Question 2

2. CANCELLATION

Answer 2

Termination of an insurance contract before the end of the policy period, by the insured or insurer.

Question 3

3. CARRIER

Answer 3

the insurance company or insurer

Question 4

4. CATASTROPHE

Answer 4

A disaster affecting a specific geographic area. Catastrophes often cause injury or death, and most result in extensive property damage. Hurricanes, floods, tornadoes or hailstorms are examples.

Question 5

5. CERTIFICATE OF SATISFACTION

Answer 5

A form signed by the INSURED when he takes delivery of the car from the repairer. It certifies that he is satisfied with the vehicle operations, appearance, and visible quality of the repairs.

Question 6

6. CLAIM

Answer 6

Any request or demand for payment under the terms of the insurance policy.

Question 7

7. CLAIMANT

Answer 7

Individual or entity presenting a claim

Question 8

8. CLUE report

Answer 8

Comprehensive Loss Underwriting Exchange report, provides claim history information

Question 9

9. Underwrite

Answer 9

ˌəndə(r)ˈrīt,ˈəndə(r)ˌrīt/
verb
1.
sign and accept liability under (an insurance policy), thus guaranteeing payment in case loss or damage occurs.
2.
(of a bank or other financial institution) engage to buy all the unsold shares in (an issue of new securities).