← Lessons 25-Insurance
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1. INTRODUCTION 2. MOTOR INSURANCE – LEGAL REQUIREMENTS IN THE UK 3. MOTOR INSURANCE ABROAD 4. OPERATIONAL RISKS INSURANCE 5. OTHER NON-MOTOR INSURANCES 6. CONCLUSION APPENDIX 1 Quick Exam Numbers / Facts – Memorise These Final Memory Checklist

Final Memory Checklist

  • Understand the two main purposes of insurance.
  • Remember the principle of utmost good faith and the need to disclose relevant information.
  • Know the minimum third-party motor insurance liabilities.
  • Know the listed exemptions and the role of the MIB/MIIC.
  • Remember the purpose and production requirements of the insurance certificate.
  • Know common reasons why a motor policy may be invalidated.
  • Understand UK insurance requirements when travelling abroad and the role of the Green Card.
  • Know the main operational-risk insurances: fire/theft, highway damage, goods in transit and CMR.
  • Remember the key CMR claim deadlines and liability limits given in the source.
  • Understand successive-carrier liability and the importance of reservations on the CMR note.
  • Know the purpose and limits of EHIC/GHIC and why private medical insurance may still be needed.
  • Know why marine insurance may be required for sea crossings.
  • Distinguish compulsory Employers' Liability from voluntary Public Liability.
  • Know the main purposes of fire, storm/flood, fidelity guarantee, consequential loss and professional indemnity insurance.
  • Always balance insurance cost against the potential severity and likelihood of the risk.