C12: Insurance on Property - Chapter 1
|\ |\ |\ |\ |\ |\ |\
questions with answers |\ |\
Contracts made in province - CORRECT ANSWERS ✔✔Signed,
|\ |\ |\ |\ |\ |\ |\ |\
countersigned, issued or delivered in the province / committed to |\ |\ |\ |\ |\ |\ |\ |\ |\
the post office / to any carrier, messenger or agent / to be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
delivered or handed over to the insured or insured's assign or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
agent in the province.
|\ |\ |\
Describe the conditions in which a contract is deemed to have
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
been made "in province." - CORRECT ANSWERS ✔✔1. Where the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
subject of contract is property in the province.
|\ |\ |\ |\ |\ |\ |\
2. Or resident of province has insurable interest in property.
|\ |\ |\ |\ |\ |\ |\ |\ |\
What book of the Civil Code of Quebec is concerned with
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
obligations? - CORRECT ANSWERS ✔✔Book 5; articles 1371 to |\ |\ |\ |\ |\ |\ |\ |\ |\
2643
What nine pieces of information must every policy or insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contract contain? - CORRECT ANSWERS ✔✔1. name of insurer.
|\ |\ |\ |\ |\ |\ |\ |\
2. name of insured.
|\ |\ |\
3. name of person whom insurance money is payable to.
|\ |\ |\ |\ |\ |\ |\ |\ |\
4. amount, or method of determining the amount, of premium for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the insurance.
|\ |\
5. subject matter of insurance.
|\ |\ |\ |\
6. indemnity which the insurer is liable.
|\ |\ |\ |\ |\ |\
,7. the event on the happening of which liability is to accrue.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
8. effective date of insurance.
|\ |\ |\ |\
9. expiry date of insurance or method by which it is to be fixed.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
If two appraisers cannot resolve a dispute between an insurer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and an insured, who determines the outcome of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
disagreement? - CORRECT ANSWERS ✔✔an umpire is assigned |\ |\ |\ |\ |\ |\ |\
When can a contract term be waived in whole or in part by the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer? - CORRECT ANSWERS ✔✔When a waiver is stated in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
writing and signed by a person authorized for that purpose by
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the insurer. |\
How may an insurer respond to an unpaid premium? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔insurer may terminate contract after giving 15 days |\ |\ |\ |\ |\ |\ |\ |\
notice by registered mail as required by Statutory Condition 5.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
How many days must pass after proof of loss before an action
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
may be brought for recovery of money payable under a contract
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of insurance? - CORRECT ANSWERS ✔✔60 days
|\ |\ |\ |\ |\ |\
In the Insurance Act, what is excluded in the description of loss
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
against fire? - CORRECT ANSWERS ✔✔1. Goods undergoing
|\ |\ |\ |\ |\ |\ |\ |\
application of heat. |\ |\
2. Riot, civil commotion, war, invasion, act of foreign enemy,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
hostilities, civil war, rebellion, revolution, insurrection, or military
|\ |\ |\ |\ |\ |\ |\ |\
power.
, Describe the conditions in which fire insurance would not cover
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
damage caused by an explosion. - CORRECT ANSWERS ✔✔If the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
cause of explosion was due to riot, civil commotion, or other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
exclusions under fire |\ |\
not covered if the cause of explosion was due to riot, war,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
rebellion etc. |\
If property is removed from the premises to prevent loss or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
damage, is that property still covered under a contract of fire
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurance? Explain. - CORRECT ANSWERS ✔✔Yes, provincial
|\ |\ |\ |\ |\ |\ |\
insurance acts extend coverage to insured property necessarily
|\ |\ |\ |\ |\ |\ |\ |\
removed to prevent damage or further damage (fire).
|\ |\ |\ |\ |\ |\ |\
Why is an insured obliged to take all reasonable steps to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
minimize loss? - CORRECT ANSWERS ✔✔As it is public interest, it
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
combats moral hazard and tends to reduce economic waste and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the amount of claims that otherwise would have to be paid.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
What provisions help ensure that the insurer is not placed at a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
disadvantage while helping the insured minimize loss? - |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- Automatic extension applies for no
|\ |\ |\ |\ |\ |\ |\ |\
more than 7 days from the time property is removed.
|\ |\ |\ |\ |\ |\ |\ |\ |\
- The time limit obliges the insured to notify the insurer of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
new locations and amounts of insurance required at each of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
unspecified locations if property moved there will remain longer
|\ |\ |\ |\ |\ |\ |\ |\ |\
than seven days.|\ |\
|\ |\ |\ |\ |\ |\ |\
questions with answers |\ |\
Contracts made in province - CORRECT ANSWERS ✔✔Signed,
|\ |\ |\ |\ |\ |\ |\ |\
countersigned, issued or delivered in the province / committed to |\ |\ |\ |\ |\ |\ |\ |\ |\
the post office / to any carrier, messenger or agent / to be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
delivered or handed over to the insured or insured's assign or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
agent in the province.
|\ |\ |\
Describe the conditions in which a contract is deemed to have
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
been made "in province." - CORRECT ANSWERS ✔✔1. Where the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
subject of contract is property in the province.
|\ |\ |\ |\ |\ |\ |\
2. Or resident of province has insurable interest in property.
|\ |\ |\ |\ |\ |\ |\ |\ |\
What book of the Civil Code of Quebec is concerned with
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
obligations? - CORRECT ANSWERS ✔✔Book 5; articles 1371 to |\ |\ |\ |\ |\ |\ |\ |\ |\
2643
What nine pieces of information must every policy or insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contract contain? - CORRECT ANSWERS ✔✔1. name of insurer.
|\ |\ |\ |\ |\ |\ |\ |\
2. name of insured.
|\ |\ |\
3. name of person whom insurance money is payable to.
|\ |\ |\ |\ |\ |\ |\ |\ |\
4. amount, or method of determining the amount, of premium for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the insurance.
|\ |\
5. subject matter of insurance.
|\ |\ |\ |\
6. indemnity which the insurer is liable.
|\ |\ |\ |\ |\ |\
,7. the event on the happening of which liability is to accrue.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
8. effective date of insurance.
|\ |\ |\ |\
9. expiry date of insurance or method by which it is to be fixed.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
If two appraisers cannot resolve a dispute between an insurer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and an insured, who determines the outcome of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
disagreement? - CORRECT ANSWERS ✔✔an umpire is assigned |\ |\ |\ |\ |\ |\ |\
When can a contract term be waived in whole or in part by the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer? - CORRECT ANSWERS ✔✔When a waiver is stated in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
writing and signed by a person authorized for that purpose by
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the insurer. |\
How may an insurer respond to an unpaid premium? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔insurer may terminate contract after giving 15 days |\ |\ |\ |\ |\ |\ |\ |\
notice by registered mail as required by Statutory Condition 5.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
How many days must pass after proof of loss before an action
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
may be brought for recovery of money payable under a contract
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of insurance? - CORRECT ANSWERS ✔✔60 days
|\ |\ |\ |\ |\ |\
In the Insurance Act, what is excluded in the description of loss
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
against fire? - CORRECT ANSWERS ✔✔1. Goods undergoing
|\ |\ |\ |\ |\ |\ |\ |\
application of heat. |\ |\
2. Riot, civil commotion, war, invasion, act of foreign enemy,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
hostilities, civil war, rebellion, revolution, insurrection, or military
|\ |\ |\ |\ |\ |\ |\ |\
power.
, Describe the conditions in which fire insurance would not cover
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
damage caused by an explosion. - CORRECT ANSWERS ✔✔If the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
cause of explosion was due to riot, civil commotion, or other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
exclusions under fire |\ |\
not covered if the cause of explosion was due to riot, war,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
rebellion etc. |\
If property is removed from the premises to prevent loss or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
damage, is that property still covered under a contract of fire
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurance? Explain. - CORRECT ANSWERS ✔✔Yes, provincial
|\ |\ |\ |\ |\ |\ |\
insurance acts extend coverage to insured property necessarily
|\ |\ |\ |\ |\ |\ |\ |\
removed to prevent damage or further damage (fire).
|\ |\ |\ |\ |\ |\ |\
Why is an insured obliged to take all reasonable steps to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
minimize loss? - CORRECT ANSWERS ✔✔As it is public interest, it
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
combats moral hazard and tends to reduce economic waste and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the amount of claims that otherwise would have to be paid.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
What provisions help ensure that the insurer is not placed at a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
disadvantage while helping the insured minimize loss? - |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- Automatic extension applies for no
|\ |\ |\ |\ |\ |\ |\ |\
more than 7 days from the time property is removed.
|\ |\ |\ |\ |\ |\ |\ |\ |\
- The time limit obliges the insured to notify the insurer of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
new locations and amounts of insurance required at each of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
unspecified locations if property moved there will remain longer
|\ |\ |\ |\ |\ |\ |\ |\ |\
than seven days.|\ |\