DESCRIPTION
This module will explore the differences between commercial and personal motor insurance and how the policies will respond to support the insured in the event of a loss.
The course will explore ways on how the insurer is able to support the insured through difficult times, offer a lifeline to the business and upload the principle of indemnity. Finally, the course explores the benefits that common extensions hold.
OBJECTIVES
- Explain the different covers required for private and commercial motor insurance products
- Determine the implications of the Road Traffic Act on insurance
- Recognise the key differences between motor fleet and motor trade, and how their covers vary
- Understand claims payouts for death or injury are made by the MIB in the event of an insured or untraceable driver
