Question
61
What is the essence of subrogation in the context of insurance?
What is the essence of subrogation in the context of insurance?
Options
a
Payment by a third party that makes the third party the new creditor of the debtor
Payment by a third party that makes the third party the new creditor of the debtor
b
Payment of the premium by the insured
Payment of the premium by the insured
c
Submission of a claim by the insured
Submission of a claim by the insured
d
Cancellation of the policy by the insurer
Cancellation of the policy by the insurer
Grade
Ungraded
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Question
62
What does subrogation involve in the context of insurance?
What does subrogation involve in the context of insurance?
Options
a
The insurer takes the place of the insured in respect of claims against third parties for the loss suffered
The insurer takes the place of the insured in respect of claims against third parties for the loss suffered
b
The insured takes the place of the insurer in respect of claims
The insured takes the place of the insurer in respect of claims
c
The insurer pays the premium to the insured
The insurer pays the premium to the insured
d
A third party submits a claim to the insurer
A third party submits a claim to the insurer
Grade
Ungraded
Last Update
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Question
63
When may the insurer exercise subrogation?
When may the insurer exercise subrogation?
Options
a
After paying the insurance money and indemnifying the loss
After paying the sum insured and indemnifying the loss
b
Before paying the insurance money
Before paying the sum insured
c
When the premium has been paid
When the premium has been paid
d
After the contract has been signed
After the contract has been signed
Grade
Ungraded
Last Update
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Question
64
What was affirmed in Rathbone Brothers Plc v Novae Corporate Underwriting?
What was affirmed in Rathbone Brothers Plc v Novae Corporate Underwriting?
Options
a
Subrogation arises after payment
Subrogation arises after payment
b
Subrogation arises before payment
Subrogation arises before payment
c
Subrogation is not required in marine insurance
Subrogation is not required in marine insurance
d
Subrogation may be exercised at any time
Subrogation may be exercised at any time
Grade
Ungraded
Last Update
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Question
65
What is the premise that justifies subrogation?
What is the premise that justifies subrogation?
Options
a
Insurance recovery does not affect the relationship between the insured and the third party
Insurance recovery does not affect the relationship between the insured and the third party
b
Insurance recovery improves the relationship between the insured and the third party
Insurance recovery improves the relationship between the insured and the third party
c
Insurance recovery extinguishes the claim against the third party
Insurance recovery extinguishes the claim against the third party
d
Insurance recovery reduces the insured's obligations
Insurance recovery reduces the insured's obligation
Grade
Ungraded
Last Update
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Question
66
What happens if the insured recovers compensation from a third party after being indemnified by the insurer?
What happens if the insured recovers compensation from a third party after having been indemnified by the insurer?
Options
a
That compensation belongs to the insurer
That compensation belongs to the insurer
b
That compensation belongs to the insured
That compensation belongs to the insured
c
That compensation is divided between the insurer and the insured
That compensation is divided between the insurer and the insured
d
That compensation is returned to the third party
That compensation is returned to the third party
Grade
Ungraded
Last Update
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Question
67
What belongs to the insurer after the insured has been fully indemnified?
What belongs to the insurer after the insured has been fully indemnified?
Options
a
The balance of the compensation
The remaining balance of the compensation
b
The amount paid as premium
The amount paid as premium
c
The insurance policy
The insurance policy
d
The insured's claim
The insured's claim
Grade
Ungraded
Last Update
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Question
68
What is considered in subrogation against co-insureds under a joint insurance contract?
What is considered in subrogation against a co-insured under a joint insurance contract?
Options
a
The proper construction of the underlying contract
The proper construction of the underlying contract
b
Timely payment of the premium
Timely payment of the premium
c
Insurance recovery
Insurance recovery
d
The insurer's right of subrogation
The insurer's right of subrogation
Grade
Ungraded
Last Update
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Question
69
What must the insured not do in relation to the insurer's subrogation rights?
What must the insured not do in relation to the insurer's subrogation rights?
Options
a
Prejudice the insurer's subrogation rights
Prejudice the insurer's subrogation rights
b
Submit a claim against a third party
Submit a claim against a third party
c
Pay the premium on time
Pay the premium on time
d
Indemnify a third party
Indemnify the third party
Grade
Ungraded
Last Update
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Question
70
What must be disclosed to the insurer if there is a waiver of subrogation rights?
What must be disclosed to the insurer if there is a waiver of subrogation rights?
Options
a
Any waiver of subrogation rights
Any waiver of subrogation rights
b
Any premium payment
Any premium payment
c
Any claim submission
Any claim submission
d
Any change in the policy
Any change in the policy
Grade
Ungraded
Last Update
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