LOSS ADJUSTING NOTES (CHAPTER 1-10)
QUESTIONS WITH COMPLETE SOLUTIONS!!
1 of
112
Term
explain how burden of proof to recover from tortfeasor who can
afford to pay
Give this one a try later!
The burden of proof usually rests with the person who has sustained the damage
and wants to recover, the plaintiff, but this onus can be shifted by
statute
, • What are the facts of the case?
• What evidence is available?
• What other info must be obtained?
• What is the legal liability of the insured for the occurrence?
• Is there any other party who bears responsibility?
• Is there any other insurance policy that might come into play?
• Is there a need to retain an expert?
Covers loss or damage caused by collision with another object or by upset of
automobile (usually rollover). It covers whether insured is at fault or not.
Dispute arises when there is same evidence and more than one conclusion.
Courts are inconvenient and time consuming. Alternative dispute resolutions are
more economical.
Don't know?
2 of 112
Definition
Building coverage: repair or replacement must occur at same
location and same occupancy. Commercial policy wordings: carry
functional replacement endorsement; not related to functional
approach to indemnity, used when older building is adapted for
commercial operation and expensive construction is replaced with
economical modern materials/methods.
Give this one a try later!
How are explosion, smoke,
falling objects, impact by aircraft, how is content coverage viewed
riot and vandalism covered? under basis of settlement
, what is temporary substitute How is building coverage and
vehicle coverage commercial coverage
viewed under basis of
settlement?
Don't know?
3 of 112
Term
what are five exclusions under the liability policy?
Give this one a try later!
war, business pursuits, professional services, bodily injury, sexual abuse,
transmission of diseaseh2
Coverage for all autos owned by named insured. Typically used for large
commercial businesses.
Special damages are awarded for incurred and out-of-pocket expenses such as
doctor's bills, damages clothing and repair costs to property. General damages
are awarded for pain and suffering.
In a third party liability claim, the insured is served with a statement of claim. The
insured must send this immediately to the adjuster. Adjuster may deal directly
with the third party lawyer or the adjuster will guard against default judgement.
Adjuster prepares for statement of defence to be filed before deadline. Only
refer to counsel if necessary. An independent adjuster must have the insurer's
consent to deal with the claim. The lawyer must file a defence within the
deadline to avoid a default judgement. The lawyer must be aware that the limitation
period
, for filing a defence runs from the day the document is served on the defendant. Insurers cannot rely on any
statute to enforce default judgement.
Don't know?
QUESTIONS WITH COMPLETE SOLUTIONS!!
1 of
112
Term
explain how burden of proof to recover from tortfeasor who can
afford to pay
Give this one a try later!
The burden of proof usually rests with the person who has sustained the damage
and wants to recover, the plaintiff, but this onus can be shifted by
statute
, • What are the facts of the case?
• What evidence is available?
• What other info must be obtained?
• What is the legal liability of the insured for the occurrence?
• Is there any other party who bears responsibility?
• Is there any other insurance policy that might come into play?
• Is there a need to retain an expert?
Covers loss or damage caused by collision with another object or by upset of
automobile (usually rollover). It covers whether insured is at fault or not.
Dispute arises when there is same evidence and more than one conclusion.
Courts are inconvenient and time consuming. Alternative dispute resolutions are
more economical.
Don't know?
2 of 112
Definition
Building coverage: repair or replacement must occur at same
location and same occupancy. Commercial policy wordings: carry
functional replacement endorsement; not related to functional
approach to indemnity, used when older building is adapted for
commercial operation and expensive construction is replaced with
economical modern materials/methods.
Give this one a try later!
How are explosion, smoke,
falling objects, impact by aircraft, how is content coverage viewed
riot and vandalism covered? under basis of settlement
, what is temporary substitute How is building coverage and
vehicle coverage commercial coverage
viewed under basis of
settlement?
Don't know?
3 of 112
Term
what are five exclusions under the liability policy?
Give this one a try later!
war, business pursuits, professional services, bodily injury, sexual abuse,
transmission of diseaseh2
Coverage for all autos owned by named insured. Typically used for large
commercial businesses.
Special damages are awarded for incurred and out-of-pocket expenses such as
doctor's bills, damages clothing and repair costs to property. General damages
are awarded for pain and suffering.
In a third party liability claim, the insured is served with a statement of claim. The
insured must send this immediately to the adjuster. Adjuster may deal directly
with the third party lawyer or the adjuster will guard against default judgement.
Adjuster prepares for statement of defence to be filed before deadline. Only
refer to counsel if necessary. An independent adjuster must have the insurer's
consent to deal with the claim. The lawyer must file a defence within the
deadline to avoid a default judgement. The lawyer must be aware that the limitation
period
, for filing a defence runs from the day the document is served on the defendant. Insurers cannot rely on any
statute to enforce default judgement.
Don't know?
