BizCover Trivia

Which one is the correct pair of abbreviation and what it's stand for?

• PI - Public Indemnity

• PL - Professional Liability

• SL - Statutory Liability

• CL - Company Liability

Answer explanation

PI: Professional Indemnity, PL: Public Liability, CL: Cyber Liability

Which one is NOT one of payment frequency/period used by BizCover or BizInsure?

• Annualy

• Quarterly

• Monthly

• Daily

Which pair of team mostly handle US region?

• XDI - BizVenger

• Jarvis - Firewatcher

• Dream Team - BizSwift

• BizSwift - BizKeeper

ANZSIC stands for Australia and New Zealand ......?

• Structured International Charity

• Signed Individual Coexistence

• Standard Industrial Classification

• State Involvement Chart

What's LMI term that we often use?

• Labour Market Information

• Lenders Mortgage Insurance

• Low- and moderate-income

• Load Moment Indicator

Answer explanation

LMIDescription is ofter used for Occupation

"Self service" is commonly used term for...

• Agent

• Broker

• Underwriter

• Customer

What's "CoC" commonly stands for here?

• Clash of Clans

• Certificate of Currency

• Certificate of Competency

• Certificate of Compliance

Answer explanation

A document providing evidence to third parties that an insurance policy with the appropriate cover is current as at the document date. It is a summary of the most important provisions of the insurance policy: the type of insurance cover, its value, any exclusion or excess limits, the premium and the period of the insurance cover. It does not replace the policy document and cannot be used to make a claim.

GST is an indirect "T" levied on the supply of "G" and "S". It is a value added "T"; rate is 10% for Australia and 15% for New Zealand. What does GST stands for?

"The amount of risk or liability that is covered for an individual or entity by way of insurance services" is?

• Cover

• Base Premium

• Total Premium

• Stamp Duty

Law sign by the former US President George W. Bush to include acts of terrorism as a covered peril. It is mandatory that the customer buying a policy that covers against any issue associated with an act of terrorism to be given the possibility to opt out of this coverage included by default. If the customer decides not to purchase this extra cover, normally a reduction in premium applies. This is called "TRIA". What is it stands for?

• Terrorism Risk Insurgency Act

• Terrorism Risk Insurance Act

• Terrorism Risk Indemnity Act

• Terrorism Risk Irredeemable Act