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By:
Lucy Clare
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Decks in this class (28)
IF1.1 (Risk & Insurance)
Define risk averse,
Define risk seeking,
Define risk
80
cards
IF1.2 - The Insurance Market
What are the 5 main types of buye...,
What is an intermediary,
What are the two types of interme...
149
cards
IF1.3 - Contract and Agency
Define contract,
To ensure a contract is valid and...,
Void ab initio
54
cards
IF1.4 - Insurable Interest
Define insurable insterest,
Define subject matter of insurance,
Define subject matter of the cont...
18
cards
IF1.5 Good Faith and disclosure
Define good faith,
Material circumstances,
Why does good faith matter in ins...
57
cards
IF1.6 Proximate Cause
Define proximate cause,
When may you have to identify a p...,
An insurance policy covers
11
cards
IF1.7 Indemnity
Define indemnity,
Define benefit policy,
Examples of benefit policies
44
cards
IF1.8 Contribution and Subrogation
Define contribution,
What must neither policy contain ...,
What must both policies contain f...
38
cards
IF1.9 Legal and Regulatory
Compulsory insurance for private ...,
Compulsory insurance for professi...,
Why are some insurances compulsory
151
cards
IF1.10 Consumer Protection and Complaints Handling
Gdpr,
Processor,
What information does gdpr apply to
53
cards
IF3.1 Material Information
For a contract to be legally bind...,
Consideration,
Caveat emptor
42
cards
IF3.2 Underwriting Process
Define subjectivity,
Statement of fact,
Policy wording
80
cards
IF3.3 Insurance Policies
The consumer insurance disclosure...,
Policy schedule,
Consumer rights act 2015
59
cards
IF3.4 renewals and cancellation
Why may insurers what renewals,
Does the insurer have to invite r...,
What does icobs say about renewal
12
cards
IF3.5 Personal Insurances / IF4.2
Four levels of insurance for motor,
Road traffic act only insurance,
European union third directives
89
cards
IF3.6 Commercial Insurances / IF4.2
For a claim to be completed peril...,
What does fire and special perils...,
What are the three parts of stand...
100
cards
IF3.7 Related Services
Helplines,
Helplines used in private motor i...,
Helplines for household insurance
22
cards
IF3.8 Underwriting Considerations
Purpose of underwriting,
Is commercial or personal insuran...,
Consumer insurance disclosure and...
49
cards
IF3.9 Rating Factors
What are the 3 different levels o...,
Board level reporting,
Underwriting managers
49
cards
IF3.10 Pricing Factors
Risk premium,
Frequency,
Severity
49
cards
IF3.11 Managing exposure
Market cycle,
What effects the length of the ma...,
What shortens a cycle
27
cards
IF4.1 General Principles
Onus proof,
Indemnity,
Who does the onus of proof lie on
49
cards
IF4.3 Claims Considerations
Role of a claims handler,
Why is customer service so important,
Service standards will cover roughly
114
cards
IF4.4 Claims handling procedures
7 aspects to motor claims process,
For non comprehensive cover the i...,
Health insurance claims proces
86
cards
IF4.5 Claims handling systems
What does it relate to,
Characteristics of insurance claims,
Types of claims transactions whic...
59
cards
IF4.6 claims settlements
What are the four ways to settle ...,
When will an insurer pay cash set...,
Why do insurers use cash to settl...
59
cards
IF4.7 management of expenses
What are the 3 main roles of a cl...,
Approach to claims management,
Who is responsible for strategy
42
cards
Past paper questions
With liability insurance when can...,
For a valid employers liability c...,
What is covered for travel insura...
26
cards
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CII
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