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Define Precedent
A legally enforceable decision made by a judge will guide judges in making subsequent decisions in similar cases
What are the three levels of law in Canada?
Government of Canada (Federal), Provincial and Territorial Governments, and local and municipal governments.
Is coverage provided for a slide in camper when it is off the vehicle?
Yes - Chapter 7 page 10
What year did all provinces establish standard policy wordings?
1930
Jack decided to replace his older vehicle with a brand new sports car, but didn't tell his insurer. What stat condition would this fall under?
Material change
Name the parties to an insurance contract....
First Party - Insured
Second Party - Insurer
Third Party - Others
Define Negligence
The omission to do something which a reasonable person would do, or doing something which a reasonable and prudent person would not do
What are the two systems of law in Canada?
Civil Code of Quebec and Common Law
Define Subrogation
the transfer of legal rights (to an insurer) of someone whose debts or expenses have been paid to pursue recovery from an at-fault party
Optional extension coverage includes which added benefits?
Increased limits for TP liability, Excess value insurance or lower deductibles under comprehensive, higher limits or reduced waiting periods under loss of use coverage or coverage for loss of use caused by additional perils
Define onus of proof
Means the burden or responsibility of proof and is sometimes referred to by its Latin term, onus probandi
What does the owner's certificate provide coverage for?
The holder of a valid driver's licence is entitled to TP liability coverage up to a maximum of $200,000 and Personal Injury Plan benefits, Part IV and VIII when a loss arises out of the use of a vehicle that is not insured
Who is Nicolas-Joseph Cugnot and Sir Goldsworth Gurney?
Nicolas-Joseph Cugnot developed a vehicle that was propelled by steam in 1770 and Sir Goldsworthy Gurney is considered the first inventor to have made use of steam as an agent for giving vehicles traction on the roads
What are the examples of permanent injuries under Part II?
Scarring
Partial of complete loss of vision or hearing
Paraplegia
Loss of range of motion in a joint
Loss of a limb (amputation)
Under Replacement Cost Coverage, what losses are not covered after 24 months?
Fire, theft, vandalisim, malicious mischief, or water damage
Define Tort
A civil wrong or harm committed against another. The injured party as a right of action against the wrongdoer
Explain Quebec's dual system
In Quebec, BI claims are covered by a government compensation plan and the PD claims are covered by standard automobile policies issued by private companies.
**The government BI plan is funded by premiums collected when license plates and driver's licences are renewed and by sales tax on gasoline
Under Extension Insurance, which individual coverages can you choose to select?
All Perils
Collision or Upset
Comprehensive
Specified Perils
Road Hazard Glass
Explain absolute liability
Under absolute liability, the insurer is responsible to pay third party claims even though the insured has breached a policy condition.
Some jurisdictions require a judgement to be obtained in favour of the third party before money will be awarded under absolute liability. Others do not if liability is clear cut
In Quebec, there are alternatives available to challenge decisions rendered by the S.A.A.Q. The Under the Bureau de revision, the victim must complete an Application for Review and submit it to the SAAQ within how many days of the postmarked date of the original decision?
60 days.
If it goes to an appeal before the Commission des affaires sociales then the victim must file an appeal within 90 days of the Bureau de revision's decision. The Commission's decision is final
What are the two components of an automobile insurance rate?
Pure Premium - this is the amount required to pay only the anticipated losses
Expense loading - this is added to the pure premium and includes:
Acquisition costs, processing and servicing costs, taxes, contingencies, profit
Underwriting consists of three functions, what are they?
Consideration of the acceptance or rejection of a risk
If the risk is accepted, the terms of the policy
The premium for the policy
There are three distinct commercial activities that the Standard Owners Policy becomes invalid for during the rideshare process, what are they?
Period 1 - While the driver is accessing the app in the vehicle, but has not yet selected a ride
Period 2 - After a ride is accepted and while the driver is on the way to pick up the passenger
Period 3 - While carrying the passenger from pick up to drop off
What are the four legal concepts that regulate the settlement of automobile accidents claims?
Negligence, Onus of Proof, Subrogation, and Absolute Liability
Theinsurerisnotliableforlossordamagethatarisesoutofnormalthingsthathappentoanautomobile. Name5exclusionsunderanextensionpolicythatthisincludes
Dirtyupholstery,mechanicalbreakdown,rust,normalwear,scratching,freezing,lossordamagetotires,explosionwithinthecombustionchamber