Loss Of Rent Training

What is the main difference between Loss Of Rent & Rental Default?

• Loss of rent occurs before the Date of Incident

• Loss of rent occurs after the Date of Incident

What documents are required to review a Loss of rent claim? Select 2

• Lease Agreement

• Condition Report

• Rental Ledger

• Mortgage Discharge Letter

INS is requesting Temporary Accommodation for their tenants as property is not habitable. Does the Landlord policy extend coverage?

• Yes

• No

• Only if it is on their COI as an optional benefit

If following review we conclude that 'No Insured Event' has occurred, do we still provide cover for Loss Of Rent as it is an additional benefit?

• Yes

• No

• Only if its taken out as an optional benefit

What is the LOR limit?

• 12 months rent

• 10% of Sum Insured

• The actual rent lost

• The lesser of the 3

Our policy states that if a building is temporarily unoccupied it must be maintained. The maximum period your building can remain unoccupied during period of insurance is how many consecutive days?

• 30 days

• 60 days

• 120 days

• 200 days

INS claim has been reviewed and accepted. We have approved to pay INS LOR for 50 days including repair timeframe. If we assume INS is receiving $2000 a month in rent and their building sum insured is $500,000. How much LOR is payable to INS before excess deduction?

• $3500

• $3333.34

• $3287.67

• $3200

If INS does not have building coverage, and contents only under a strata title cover, do we offer LOR?

• Yes

• No