Difference between revisions of "JUA: Does Insured Know"
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(Created page with "There was a ''[https://www.battleacts6us.ca/vanillaforum6us/discussion/27/jua-and-rf#latest forum question]'' about whether an insured is aware when their policy has been forw...") |
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The fourth sample answer for part (b) of the 2015 problem is: | The fourth sample answer for part (b) of the 2015 problem is: | ||
| − | * “In both the insured may not be aware of placement.” ← ''refers to similarity between a JUA and RF (Reinsurance Facility)'' | + | * “In both '''the insured may not be aware of placement'''.” ← ''refers to similarity between a JUA and RF (Reinsurance Facility)'' |
I am assuming that these answers were given full credit. | I am assuming that these answers were given full credit. | ||
Revision as of 17:38, 23 February 2021
There was a forum question about whether an insured is aware when their policy has been forwarded to a Joint Underwriting Association. The source text does not comment, but there are 2 old exam questions where this came up:
- E (2018.Spring #6)
- E (2015.Spring #8)
The first sample answer for part (b) of the 2018 problem is:
- If a high risk applicant applies, a broker forwards the risk to the JUA. Servicing carrier writes and services policy and handles the claims. The consumer doesn’t know that he/she has been rejected. Premium and loss is allocated based on market share in voluntary market.
The fourth sample answer for part (b) of the 2015 problem is:
- “In both the insured may not be aware of placement.” ← refers to similarity between a JUA and RF (Reinsurance Facility)
I am assuming that these answers were given full credit.
