Auto Skills Gap Analysis - Atlantic

Thank you for taking the time to complete this technical skills analysis for Auto.

The questions below are designed to assess your skills as an underwriter underwriting commercial auto risks and determine any gaps that will be bridged through the Commercial Lines Core Insurance program

About the assessment:

This assessment includes a series of multiple-choice questions that address the following key technical categories:

  • Policy Wordings
  • Pricing Terms and Conditions
  • Risk Assessment
  • Financial Analysis
  • Loss Analysis
  • Risk Management
  • Underwriting Tools

    Instructions:

    Carefully review and answer each of the following questions. For each of the questions there is the option of “I do not know”.

    For the development team to build the most relevant and impactful training it is important to have a clear understanding of where some of the technical gaps are.

    We would appreciate it if you would not guess at any of the questions and thus possibly skew the results.

    Thank you for your efforts in this program and we look forward to working with you in this initiative.

  • Name (optional): 


    1. The definition of automobile in the Owner’s Policy does not extend certain coverage to other or borrowed automobiles…
      If they are the private passenger type operated by the insured or spouse
      If the other automobile has a gross vehicle weight grater than 4,500 kg.
      If it is not used to carry passengers or make commercial deliveries
      If it is used by the insured, spouse and dependants strictly for personal use
      All of the above
      I do not know


    1. The Non-owned Automobile Policy will pay third-party claims when:
      A driver of a non-owned automobile using the vehicle for business, is involved in an at fault accident, and the non-owned vehicle is uninsured
      A non-owned vehicle is used for personal business at the time it is involved in an accident
      An employee is involved in an at fault accident with a company vehicle during the course of his or her employment.
      An independent contractor was operating his uninsured vehicle for the business of the insured at the time of the accident
      I do not know


    1. Automobiles operating under contract as defined in the Non-owned automobile policy include vehicles that are:
      Hired, leased, or rented from others under contract
      Owned by the Insured and rented to the business as required
      Supervised, directed and controlled by their owners in the business of the insured
      Personally driven by the Insured if the Insured is an individual
      None of the above
      I do not know


    1. The coinsurance clause that applies to Specified Perils coverage for customers’ automobiles under a Garage Policy makes the insured responsible for the proportional amount of the loss under which of the following conditions:
      If the loss involves damage to more than one automobile
      If the limit at the time of loss is less than 80% of the actual cash value of the automobiles in the insured’s care custody or control
      If the limit provided in the policy is less than or equal to the loss amount
      If the number of customers’ automobiles in the insured’s care custody or control at the time of loss is greater than the maximum number stated
      All of the above
      I do not know


    1. A garage owner has purchased endorsement 77 – Legal Liability for Comprehensive Damage to Customer’s Automobiles, what claim does he expect will be covered by this endorsement?
      Damage to a customer’s interior from a mechanic getting in and out of the vehicle
      Damage caused by an employee taking a customer vehicle for a test drive and hit a tree
      Damage caused by the owner’s wife while driving a garage owned automobile
      Damage to a customers’ vehicles that he keeps on his open lot
      I do not know


    1. In the following case, 6c endorsement is used to allow the carrying of passengers for compensation to provide the required limits for Passenger Hazard. What is the maximum limit available to the passengers, if you are insuring a public bus with a $2 Million limit for Road Hazard and a $5 Million limit for Passenger Hazard?
      $2 million
      $5 million
      $7 million
      $4 million
      I do not know


    1. Given the same set of circumstances as the previous question, what is the maximum limit available to Third Parties other than passengers?
      $4 million
      $7 million
      $2 million
      $5 million
      I do not know


    1. Which hazard listed below is most associated with the operation of a cement mixer?
      Residue from a previous load could contaminate the another or subsequent load
      Risk of bob-tailing which makes the unit difficult to control because the weight is not evenly distributed over the axles.
      The opportunity for upset given the vehicle’s high center centre of gravity and the uneven roads it may travel on construction sites.
      Susceptibility to severe wear and tear, and lack of readily available maintenance facilities.
      I do not know


    1. As an underwriter which of the following safety equipment items is not a concern if part of a vehicle is transporting ‘anhydrous ammonia’?
      Approved gas masks
      An axe
      Tight fitting vent-less goggles or a full-faced shield
      An approved first aid kit
      I do not know


    1. The exclusion ‘Excluding the use, ownership and operation of attached machinery’ would apply to which of the following automobile risk(s):
      Cement mixers
      Tank trucks hauling home fuel oil
      Sod truck with crane for loading and unloading
      X-ray machinery
      Portable welders
      All of the above
      I do not know


    1. When assessing a risk that is involved in steel hauling what aspect of the risk would not concern you:
      Short hauls
      Heavy loads while transporting and loading
      Load shifting
      Stopping in case of emergency
      None of the above
      I do not above


    1. As a company we do not have an appetite for long haul trucking into the U.S.; however, we will entertain Canadian domiciled risks with U.S. exposures under the following circumstances:
      The account is above average for it’s its class
      U.S. exposure is limited.
      There is good supporting business.
      There is no U.S. domiciled exposure.
      Both A and B
      All of the above
      I do not know


    1. Which of the following vehicles do not need to be reported under the International Fuel Tax Agreement (IFTA)?
      Vehicles used specifically for the transportation of persons
      Vehicles that travels between two or more jurisdictions
      Pickups with attached equipment when used exclusively for commercial use
      Vehicles with two axles and gross vehicle weight of 26,000lbs or 11,797kg
      Vehicles with two axles and gross vehicle weight of 26,000lbs or 11,797kg
      All of the above
      I do not know


    1. A Carrier Profile Report (CVOR) is used to evaluate how a company operates its commercial automobiles. The Report does not provide information to assess which of the following:
      Management’s attitude towards loss control and fleet safety.
      The number of U.S. states where the insured operates. in
      Records of safety records or maintenance violations
      Convictions against drivers while operating company vehicles
      I do not know


    1. Generating credits to reduce the premium for a fleet to that below manual rates can substantiated when:
      Actuarial data supports a reduced rate because the experience of five or more vehicles combined is statistically significant
      It is less costly for an insurer to negotiate terms with one insured and issue one policy
      Fleet losses are difficult to track and monitor and the fleet may appear to be performing well
      The difference between the experience of the fleet and the experience anticipated are significantly different
      None of the above
      I do not know


    1. In assessing the loss experience of a risk an underwriter projects the claims costs in the future; therefore, it is important to:
      Consider the minimum years of driving experience management requires of the drivers applying for driving positions
      Adjust the loss experience to reflect any difference between the coverage and deductible requested to quote and those of the expiring policy term
      Investigate the maintenance procedures to ensure the risk manager schedules regular maintenance for the vehicles
      Ensure the management conveys the same message set out in the company procedure manual
      All of the above
      I do not know


    1. How does the fleet formula develop current term losses to closer reflect expected losses for the next term?
      Experience premium in addition to expense factor to cover overhead and all other insurance company expenses and profits are factored in
      Exposure premium for the fleet is determined as well as next years expected losses based on previous loss history
      Base premium plus determining the increased limit factors to add to the premium for the capping amounts of large losses
      Average the loss cost per vehicle and multiply it by the current number of vehicles
      I do not know


    1. When using a fleet experience rating formula, the expected losses for the fleet are determined by:
      Extrapolating the expiring year’s losses to a full 12 months
      Adding an amount to reflect the losses that have occurred but have not been reported
      Multiplying the current vehicle count by the average loss cost per vehicle
      Adjusting outstanding losses to reflect what they would probably cost next year
      All of the above
      I do not know


    1. It is difficult to determine a successful fleet safety program where:
      A fleet safety manager’s sole responsibility is planning and implementing the program
      Safety is made the responsibility of each employee for his or her specific job
      Management is not committed to the fleet safety program
      Historically, the risk has a propensity for a large number of small nuisance type claims
      Both A and B
      I do not know


    1. What would make a fleet safety program unacceptable to an underwriter?
      A satisfactory NSC and U.S. DOT rating
      A written policy and procedures manual
      Periodic inspections completed on all units
      Permits passengers to ride in the a fleet vehicle
      I do not know


    1. A successful common carrier operating for a number of years with an excellent track record has lost a significant client representing 50% of the sales. If the business is not replaced what impact would concern you the most as an underwriter?
      Number of idle vehicles on the lot
      Reputation in the industry
      Change in claims experience or questionable claims
      Loss of revenue and extensive liens
      A & C
      I do not know


    1. The financial stability of a company will affect which of the following:
      Loss controls the Insured has in place
      Driver training provided by the Insured
      Pay scale offered for the drivers
      Maintenance of the vehicles
      Driver Turnover
      All of the above
      I do not know





    Aviva Canada
    Scarborough, ON