Certificate Of Insurance

Resumen

You almost never see your insurance policy. It sits in a drawer, thirty pages of clauses you will read only if something goes wrong. What you carry, show and produce is something much smaller: a single sheet called the certificate of insurance. When a police officer at a checkpoint in Lagos asks a driver to prove the car is insured, it is the certificate he wants to see, not the policy.

This lesson explains what a certificate of insurance is, why the law in some classes of business insists on one, and how the certificates used in motor, marine and employer's liability insurance each do a slightly different job. You will learn exactly what a motor certificate must show, why a Nigerian motorist may not drive without it, and how to tell a certificate apart from the policy it stands for: a distinction examiners test almost every year.

Objetivos

  1. Define a certificate of insurance and explain its evidential purpose
  2. Describe the certificate used in motor insurance and state its statutory role
  3. Describe the certificates used in marine and in employer's liability insurance
  4. Distinguish the certificate of insurance from the policy document

Nota de la lección

A young driver in Ibadan buys her first car, pays for third party motor insurance, and drives off pleased with herself. A week later a traffic officer stops her and asks for proof of insurance. She hands over a thick booklet of policy conditions. The officer waves it away and asks again for the certificate. She does not have it with her, and she cannot understand the difference. The difference is the whole of this topic. The policy is the contract; the certificate is the short, official proof of it that the law tells her to keep and to produce. Learn what the certificate is, what it must contain, and when it must be shown, and you have learned one of the most practical pieces of insurance a Nigerian student will ever use.

Evaluación de la lección

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  1. A certificate of insurance is best described as: A. The full contract between insurer and insured B. Evidence that a contract of insurance exists and is in force C. A receipt for the premium paid D. A proposal form completed by the insured Answer: B
  2. Which document must a Nigerian motorist produce to a police officer on demand? A. The policy document B. The proposal form C. The certificate of insurance D. The premium receipt Answer: C
  3. Which of the following is NOT normally shown on a motor certificate of insurance? A. The registration mark of the vehicle B. The persons entitled to drive C. The full list of policy exceptions D. The date the cover expires Answer: C
  4. A certificate of marine insurance issued under an open cover is usually: A. Fixed to one shipment and cannot be passed on B. Transferable to a buyer by endorsement C. The same document as the ship's log D. Issued only after the goods are lost Answer: B
  5. An employer's liability certificate is typically: A. Kept secret from employees B. Displayed at the workplace as evidence of cover C. Handed to each customer D. Produced only to the police Answer: B

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Preguntas Anteriores

¿Te preguntas cómo son las preguntas anteriores sobre este tema? Aquí tienes una serie de preguntas sobre Certificate Of Insurance de años anteriores.

WAEC SSCE - Insurance - 2015

Pregunta 1 Informe

(a)List seven contents of a certificate of insurance.

(b)State four characteristics of a cover note.

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