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.
5B: When a reinsurance company reinsures an original risk, or part thereof, which they have accepted from a direct insurer – they become known as the retrocedant in what is known as a contract of retrocession. The reinsurer who accepts the risk is called the retrocessionaire.
What is normally third party liability property damage limit in respect of a commercial motor policy?
A: Between £20m and £50m B: Between £1m and £5m C: Between £10m and £15m D: Unlimited
According to Department for Transport figures, what percentage of young drivers can expect to have an accident within 12 months of passing their driving test?
B: DfT figures suggest there are around 1,700 road deaths per annum, with drivers aged 17-25 accounting for only 12% of drivers but 25% of road deaths.