Only one question, but 13 scenarios to correctly identify – good luck!
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Question 1 of 1
For each of the following 13 scenarios, select the applicable Statutory Condition.
- When Loss Payable
- Entry, Control & Abandonment
- Material Change in Risk
- Change in Interest
- Property of Others
- Who May Give Notice
Andrei had an insured loss. He notified his insurance company, in writing, then completed and delivered a Proof of Loss statement as required. Six months after the proof of loss was delivered, he was still waiting for the insurer to pay the claim.
Akako had a theft claim which was covered under his insurance policy. His $1200 stereo system was stolen. Jeff was having financial difficulties so he decided to tell the insurance company the stereo system was worth $10,000 and stated this on his proof of loss form.
Uptal had an insured loss in his jewellery store. The claim adjuster called to make an appointment to attend the scene and Michael refused to let the adjuster attend the store.
Uptal had a lightning claim which damaged the roof of his house. The insurer decided to repair the damage rather than replace the roof.
Zhina went to the local insurance broker to apply for insurance. While completing the application, Zhina said the house was used for personal purposes only. The application was bound by the broker. Upon investigation the insurer discovered the house was actually a toy shop where gallons of paint and varnish were stored in the basement.
Your Friendly Insurance Brokers Inc. Cancelled Adriana’s insurance policy due to a material change in risk. They sent Adriana a registered letter, giving 15 days notice and enclosed a refund cheque calculated on a pro rata basis.
Asha had a loss which was denied by the insurance company. Being a little absent minded, Asha forgot about the loss until 18 months later. When she remembered, she felt the loss should have been covered and decided to sue the insurer for the loss amount.
Jessica had a fire loss that destroyed the home however the furniture was undamaged. The outside wall to the kitchen was completely destroyed. Jessica submitted her Proof of Loss and left to go to her mother’s home 200 km’s away. Jessica didn’t do anything to close in the kitchen wall prior to leaving.
Akako had an insurance loss and his company offered him a $10,000 cash settlement. Akako disagreed with the amount offered and felt the loss was worth more so he called his lawyer and asked what action he could take.
Dave had an in force insurance policy. Dave decided to operate a small dynamite company in the basement in his furniture store. After receiving all the necessary permits, he began the operation and did not tell his insurance company.
Amanda Jones owned a property at 893 George Street which is insured with XYZ Insurance Company. On March 1st, the house burned to the ground. While the insurer was investigating the loss they discovered that Amanda had filed for bankruptcy and the property was in the name of the Trustee in Bankruptcy when the loss occurred. As the insurer hadn’t been notified of the change and they refused to pay the claim.
Asha had a fire which destroyed the contents of her living room. A television was also destroyed that belonged to her friend. Audrey put in a claim for the damaged contents, including the TV.
Zhina had a fire that destroyed the kitchen. She didn’t want to go through the hassle of reporting the claim so she asked her neighbour to deal with it for her.