All About Insurance

______ is the amount of money you pay towards a claim on your insurance. It is also called deductible/participation fee.

This is a request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement.

This is the amount of money an individual or business pays for an insurance policy. It can be paid monthly, quarterly, bi-annually.

The person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured is called... (letters only)

This means the uncertainty about outcomes, some of which can be negative.

• insurance

• risk

• not certain

• gamble

This is a policy from a financial institution that offers a person, business or other entity reimbursement or financial protection against possible future losses or damages.

What does IAG stand for?

Which team in IAG handles claim lodgement?

• Inception

• Repairable

• Settlements

Which among the following is not true about Motor Repairable team?

• handles general inquiry

• handles hire car booking and allocates a repairer

• lodges a claim

This team handles total loss claim.

• National Settlements

• Motor Assessing

• National Recoveries

• High Impact Team