How can ‘telematics’ be defined?
A – The receiving of data through a vehicle’s infotainment system
B – A hands-free in-car telephony system
C – A system that avoids or mitigates the risk of a collision
D – The exchange of data across a wireless network
D. In its widest sense, telematics is a term used to describe the exchange of data, potentially over long distances, across a wireless communications network in real time. The receiving of data via the vehicle’s infotainment system is a simple form of connectivity.
A: The insured B: The insurer C: The broker (acting on behalf of their client) D: The loss adjuster
A claim is submitted from a third party for loss of profits and you will need to calculate the reduction in profits. This is done by comparing the profit in the period of loss with which of these?
A: With the profit achieved three months after the business has re-opened B: With the profit achieved once the business has re-opened C: With the profit in the same period immediately prior to the incident D: With the profit in the same period in the previous year
Which of these insurances indemnifies the insured against the costs of repairing or replacing a defective product that has been supplied by the insured?
D: Product guarantee insurance pays for the cost of repairing/replacing the defective products supplied by the insured. Product recall and financial loss insurance can be arranged under a combined policy with product guarantee.