Where war risks cover is purchased as part of aircraft insurance, on what basis will liability coverage for war risks apply?
A – On an any one incident basis
B – On an aggregate basis for all incidents within a defined war zone
C – On an aggregate basis for all incidents within a defined geographical radius
D – On an aggregate basis for all aircraft insured under the policy
D: Liability coverage for war risks will be on an aggregate basis for all aircraft insured under the policy. There may be a maximum that can be recovered in any one location.
In what way has the Fourth EU Motor Insurance Directive made it easier for victims to make claims against drivers from another state?
A: It requires vehicles coming from other states to display a windscreen insurance disc B: It requires motor insurers to maintain a branch in each member state of the EU C: It requires motor insurers to maintain a representative in each member state of the EU D: It requires the local Motor Insurers' Bureau to deal with all claims involving foreign motorists
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
a: Because it allows them to commence a recovery action at an earlier stage b: Because it allows them to peruse a recovery in their own name