1. A visitor to a shop slips on a wet floor and sues the shop owner for negligence. What type of non-marine liability insurance could meet any resulting costs of this action?
Products liability.
Professional liability.
Public liability.
Employers' liability.
1 of 20
Other questions in this quiz
2. What are risks which are localised in their cause and effect known as?
Speculative risks.
Fundamental risks.
Particular risks.
Non-financial risks.
3. Under the Insurance (Disclosure and Representations) Act 2012, what must an insurer prove, if anything, if it is to successfully decline a claim from a consumer?
That any non-disclosure was deliberate or reckless and they would not have entered into contract or would have done so on different terms.
They only need to show that any non-disclosure was careless.
They need to show that some form of non-disclosure had taken place.
The insurer doesn't need to prove anything. The burden of proof rests with the insured.
4. If a UK-based insurer wishes to write insurance business in the USA, it should be aware that:
It will need to be authorised by the US equivalent of the Prudential Regulation Authority.
It will have to act in partnership with an existing US insurer.
It will need to seek multiple state permissions.
It will need authorisation with one state which will then allow it to trade in a range of states.
5. Some insurers allow intermediaries to act on their behalf by allowing them to take on risk within defined limits and criteria. What is this known as?
Comments
No comments have yet been made