MISREP
What's the acronym for misrepresentation?
MISREP
What does TNC stand for?
Transportation Network Company
What does TOL stand for in a date of loss investigation?
(TIME OF LOSS)
What does PNIF stand for in ROR letters
Policy Not in Force
WHAT DOES PRS STAND FOR WHEN WORKING A TL?
PROGRESSIVE RETAIN SALVAGE
What policy term do we MISREP in for GA? How many versions of the signed application do we have for GA? And where do we find the verbiage?
-000 and -001
We have TWO versions. and the verbiage is found on the signed applications.
Policy Application
What exclusion would apply if the insured is carrying persons or property for compensation?
Part I Exclusion 1, Part IV Exclusion 1
What template should be used when starting a date of loss investigation?
(****DOL PRE-WORK ACTIVITIES TEMPLATE – GA BUBBLES****)
What letter is sent when damages exceed policy limits
Excess Letter
HOW LONG DO WE PROVIDE A RENTAL FOR AFTER THE VEH HAS BEEN DEEMED A TL?
72 HOURS
At the time of application, the NI takes out a policy with one vehicle and one driver (himself). 2 months into the policy term he adds brand new 2020 Honda Civic and doesn’t add a driver. During the loss the 2020 Civic is driven by his 17-year-old son, who lived in the household at time of application. Term 000
Would we pursue misrep?
We would pursue, if the premium was
At least 10% AND also the dollar amount change must be at least $100
What part and section outline Loan NPO?
Part IV- Insuring Agreement- Loan/Lease Payoff Coverage
What letter is used when we are unable to verify coverage for the DOL?
(DOL Investigation ROR)
What parties are required to receive an ROR when we have a coverage issue?
ULD, NI, IO – Also acceptable: Any party that has legal obligation to damages, or any party that can be sued.
IF THERE IS A LH ON A TL WHAT IS THE 1ST THING, WE SHLD DO?
REQUEST LOAN PAYOFF IN LH PORTAL
Insured advises they want to go through CC. We contact CC and confirm they have available coverage. Liability appears to be fully adverse the claimant and we do not have first party coverage only PD/BI, but insured WIFE was driving the vehicle. In this scenario would we investigate or pursue for misrepresentation?
If we had COMP/COLL/ UM/MEDPAY would we investigate for misrepresentation?
1.)We would NOT pursue Misrepresentation as there is not any first party coverage. We would send a UW memo to add the WIFE to the policy.
2.) Yes, we would
What section under Part III outlines a police report is needed to trigger UM?
Uninsured motor vehicle- C (i)
Name 3 sources to rule out unrelated or prior damages
(VSR, Meta Data, ISO, Prior Loss Review, )
What ROR is sent BEFORE an AP work up shows an increase of 10% and $100 for a ULD?
Misrep/Fraud
WHAT ADDRESS DO YOU PROVIDE TO THE LH TO SEND A GA TITLE?
What steps are involved with the GA MISREP process?Name at least 4
Must have first party coverage - "COLL/COMP/UM/UMPD/MEDPAY"
Recorded statements from IU and NI/Owner/Agent
Confirmation that IU was/is a HHRD, Reg Driver and NOT a minor
Apwork up back at 10% AND at least $100 or more
Signed Policy application
ROR to IU/NI and Owner if different
Coverage summary note to supervisor
Supervisor sends to Manager
Manager sends to Director.
Decision to afford/ deny is made.
UW /SIU notification sent
What part and section of the policy would we find how much is allowable for trailer damages?
Part IV- Limits of Liability- 1 (b)
Name 5 ways to independently verify a date of loss
(Police Report, Tow bill, Medical Bill, Bill of sale, Witness, Claimant Statement)
Please list all 9 duties a person seeking coverage must do as listed in a NON-Cooperation ROR?
A person seeking coverage must:
1. cooperate with us in any matter concerning a claim or lawsuit;
2. provide any written proof of loss we may reasonably require;
3. allow us to take signed and recorded statements, including sworn statements and examinations under oath, which we may conduct outside the presence of you or any other person seeking coverage, and answer all reasonable questions we may ask as often as we may reasonably require;
4. call to notify us about any claim or lawsuit and send us any and all legal papers relating to the claim or suit as soon as practicable;
5. attend hearings and trials as we require;
6. take reasonable steps after a loss to protect the covered auto, or any other vehicle for which coverage is sought, from further loss. We will pay reasonable expenses incurred in providing that protection. If failure to provide such protection results in further loss, any additional damages will not be covered under this policy;
7. allow us to have the damaged covered auto, or any other damaged vehicle for which coverage is sought, inspected and appraised before its repair or disposal;
8. submit to medical examinations at our expense by doctors we select as often as we may reasonably require; and
9. authorize us to obtain medical and other records.
IF THE CUSTOMER DECIDES TO OWNER RETAIN IN GA, WHAT ARE THE 4 REQUIRED DOCUMENTS?
1.UNSIGNED GA TITLE
2.MV1S FORM
3.T56FORM
4.LICENSE PLATE