Caib 1

Front 1

CUSTOM FARMING

Back 1

Use of insured's farm machinery or equipment for others away from insured's farm premises for compensation. It does NOT include work done for others in return for work done by them.

Front 2

GENERAL DAMAGES

Back 2

Damages which cannot be exactly determined but which reflects an amount court believes necessary to compensate the aggrieved party fairly.

Front 3

MALICIOUS ACT

Back 3

Wrongul act done without legal justification or excuse.

Front 4

ACCIDENT

Back 4

An unforeseen and unitended occurrence due to external, violent, sudden, fortuitous causes beyond the Insured's control.

Front 5

INSURED APPLICANT

Back 5

A Canadian resident under age 65, insured under the government health insurance plan of his Province or Territory residence, who has been named on an invoice/application issued by his/her broker.

Front 6

PROPRIETARY INSURERS

Back 6

Insurance companies which exist to make a profit or return on their investment.

Front 7

ETHICS

Back 7

The principles of conduct governing and individual or group.

Front 8

SPECIAL DAMAGES

Back 8

Damages which can be accurately measured and which are intended to reimburse the plaintiff for out-of-pocket expenses.

Front 9

SICKNESS

Back 9

Bodily sickness or disease, contracted and commencing after the policy is issued and while the policy is in effect.

Front 10

EXTENDED FAMILY

Back 10

The dependent child, spouse, parent, guardian, brother, sister and grandparent of the Insured Applicant or spouse.

Front 11

SELF-REGULATION

Back 11

The right of an industry to govern its own affairs.

Front 12

STRICT LIABILITY

Back 12

Doctrine in law which "a person is guilty until proven innocent."

Front 13

VOIDABLE CONTRACT

Back 13

A contract that may be voided at the option of the wronged party only and NOT the wronger doer.

Front 14

SUBROGATION

Back 14

When the insurer has paid a claim for a loss caused by 3rd party the Insurance Act allows the insurer to place itself "in the insured's shoes" in respect of their right to recover the amount of the loss from the responsible party.

Front 15

INSDURED

Back 15

An Insured Applicant, his spouse and any Dependent children.

Front 16

LICENSEE

Back 16

A licensee is someone who comes onto the premises for his own purpose but with the occupiers consent.
OR
A licensee is someone who goes upon the lands of another with express implied invitation to transact business with the owner or occupant or to do some act to his advantage or to the mutual advantage of both the licensee and the owner or occupant.

Front 17

ADDITIONAL LIVING EXPENSES

Back 17

Coverage that provides for additional cost of living elsewhere when the dwelling is damaged by an insured peril and the damage is sufficient to make the dwelling unfit for occupany, or requires that the insured move out while repairs are being made. Also provides for loss of fair rental value if part of the dwelling was rented out or being held for rental at the time of the loss.

Front 18

NOTICE OF LOSS

Back 18

Immediate report of loss to insurer by the insured or his/her representative (agent/broker) in writing.

Front 19

INSURANCE BINDER

Back 19

A temporary agreement in which the insurer agrees to provide certain coverages pending the issuance of the policy.

Front 20

FRIENDLY FIRE

Back 20

A fire that is contained in its proper receptacle.

Front 21

RISK

Back 21

Chance of financial loss to which an object of insurance is exposed.

Front 22

VALUED POLICY

Back 22

Both the insured and insurer agree at the time the policy is issued as to the cash value of the property. In the event of a loss, the agreed amount would be paid.

Front 23

PURE RISK

Back 23

The chance of financial loss but no chance of financial gain.

Front 24

THEFT

Back 24

Includes all means of taking property without the owner's consent.

Front 25

SHORT RATE

Back 25

The basis of return premium calculation when the insured cancels the policy. The amount of the return premium is equivalent to that provided on a pro-rata basis, less any administrative charge or cancellatiion penalty.

Front 26

SPECULATIVE RISK

Back 26

The chance of financial gain or loss.

Front 27

GENERAL AVERAGE

Back 27

Designed to provide payment for ocean marine losses voluntarily incurred for the safety of the entire venture. The insurers of the parties whose property was saved shall contribute to the losses of the parties whose property was sacrificed.

Front 28

PROXIMATE RESULT

Back 28

Damage which arises from a natural or continuous sequence of the peril causing the loss.

Front 29

UNEARNED PREMIUMS

Back 29

Premiums not yet earned by the insurer. Such premiums are deemed to be held in trust in order to refund the insureds in the event the policy is cancelled prior to expirary.

Front 30

CONDOMINIUMS

Back 30

A system of separate ownership of individual units in a multiple unit building.

Front 31

SCHEDULED COVERAGE

Back 31

Covered property is itemized on the policy.

Front 32

VISITOR

Back 32

Classification given to licensee or invitee under the Provincial Occupier's Liability Acts.

Front 33

VANDALISM

Back 33

The wilful or ignorant destruction of property.

Front 34

PRO RATA

Back 34

Basis of return premium calculation when the insurer cancels the policy. The amount of the return premium is arrived at by dividing the amount of premium paid by the number of days in the policy period. The number so obtained is then multiplied by the number of days remaining in the policy period.

Front 35

FIRE

Back 35

Involves the presence of a visible flame or glow, actual ignition or burning is required.

Front 36

UNINSURED AUTOMOBILE (as defined in AB coverage)

Back 36

One in which neither the driver nor the owner has collectible bodily injury liability insurance.

Front 37

NEGLIGENCE

Back 37

The omission to do what a resonable man, guided by those ordinary considerations which ordinarily regulate human affairs, would do, or the doing of something wich a reasonable and prudent man would not do.

Front 38

A NEWLY ACQUIRED AUTOMOBILE

Back 38

One which replaces an automobile described on the policy or is in addition to others owned by the insured which are all insured by the same insurer.

Front 39

FACILITY ASSOCIATION

Back 39

An insurance pool in which all licenced automobile insurers participate and which provides insurance to those who may be refused insurance by private insurers.

Front 40

DIRECT LOSS

Back 40

A direct loss occurs when the peril insured actually attacks the object of insurance.

Front 41

FINE ARTS

Back 41

Traditionally, includes paintings, pictures, etchings, tapestries, and other bonafide works of art of rarity, historical value or artistic merit.

Front 42

CRIMINAL LAW

Back 42

Category of law that deals with wrongs against society.

Front 43

MATERIAL CHANGE

Back 43

Is any change within the control and knowledge of the insured and which arises after the policy has been issued and serves to increase the chance of loss.

Front 44

CONTRACT

Back 44

An agreement between two or more persons which creates an obligation to do or not to do a particular thing.

Front 45

PROOF OF LOSS

Back 45

A formal verification, under oath, of the details and amounts being claimed under the policy.

Front 46

DEDUCTIBLE

Back 46

Represents the amount the insured is required to absorb for each loss for which insurance coverage is provided before receiving any payment from the insurer.

Front 47

MOBILE HOME

Back 47

A home that is factory built on its own chassis and which can be easily moved.

Front 48

TORT

Back 48

A wrong done to another in breach of a duty laid down by law.

Front 49

STEP LICENSING

Back 49

A step licensing system is a system which requires a higher degree of knowledge for each increasing step.

Front 50

PROFESSIONAL

Back 50

A professional is one who possesses special skills or knowledge.

Front 51

FARMING

Back 51

Ownership, maintenance or use of premises for the production of crops or the raising or care of livestock, including all necessary operations. NOTE:The following could be included in the answer, but is not necessary for marking. Includes the operation of roadside stands and farm markets maintained principally for the sale of the insured's own farm products.

Front 52

INDIRECT LOSS

Back 52

Losses which arise as a consequence of a direct loss.

Front 53

FIDUCIARY

Back 53

One who occupies a special position of trust or confidence in the handling or supervising of the affairs or funds of another.

Front 54

INDEMNITY

Back 54

Application of the principle of indemnity ensures people receive the actual amount of their loss, no more and no less.

Front 55

RESIDENCE EMPLOYEE

Back 55

Those whose duties are exclusively in connection or maintenance and use of the residence premises.

Front 56

PLAINTIFF

Back 56

The party making the complaint (sueing someone).

Front 57

PERSONAL PROPERTY

Back 57

Contents of the insured's dwelling and other personal property owned, worn or used by the insured while on the premises, which is usual to the ownership or maintenance of a dwelling.

Front 58

REPLACEMENT COST

Back 58

The cost to repair or replace the lost or damaged property with new property of like kind, quality, without deduction for depreciation.

Front 59

VACANT

Back 59

Refers to circumstances where regardless of the presence of furnishings, all occupants have moved out with no intention of returning and no new occupant has taken up residence, or in the case of newly constructed house, no occupant has yet taken up residence.

Front 60

FRAUD

Back 60

Is a deliberate attempt to deceive, with a view to securing some profit.

Front 61

NON-PROPRIETARY INSURERS

Back 61

Insurance companies which are organized for reasons other than profit. They are owned and controlled by their policyholders and their mandate is to secure insurance at as low as possible.

Front 62

INSURANCE

Back 62

The undertaking of one person to indemnify another person against loss or liability for loss in respect of a certain risk or peril to which the object of the insurance may be exposed or to pay a some of money or other thing of value upon the happening of a certain event.

Front 63

ENDORSEMENT

Back 63

An extra sheet(s) or slip(s) of paper attached to the policy indicating in writing that the insured and insurer have agreed to a change in the items of the insurance contract.

Front 64

DEFENDANT

Back 64

The party who allegedly committed the wrong.

Front 65

DRIVER'S ABSTRACT

Back 65

A record of the driver history of the applicant and other drivers which can be obtained from the Provincial licensing authorities.

Front 66

CONSIDERATION

Back 66

An exchange of something of value between parties.

Front 67

JOINT LIABILITY

Back 67

When 2 or 3 people act together so as to cause injury or damage, they are held to be jointly liable.

Front 68

BLANKET COVERAGE

Back 68

Policy which provides a single limit of insurance for all property falling within a specific class.

Front 69

INSURABLE INTEREST

Back 69

One has an insurable interest in the subject matter of the insurance when they will suffer financially by a loss.

Front 70

FARM EMPLOYEE

Back 70

Those paid for their work and who are hired on a part-time, seasonal, or full-time basis to perform duties principally connected with farming activities outside the insured's dwelling. Or persons engaged in farm related work on behalf of the insured in a neighbourly exchange of assistance for which the insured is not obliged to pay any money.

Front 71

INVITEE

Back 71

Someone who enters by invitation, be it expressed or implied. The entry is connected with the owner's business or with an activity the owner conducts or permits to be conducted on his land and there is a mutual benefit or benefit to the owner.

Front 72

TRESPASSER

Back 72

Is one who is on another's premises for his/her own purpose without the expressed or emplied permission of the occupier. Their presence is of no value to the occupier and such persons are viewed as having temporarily appropriated the property for their own use.

Front 73

PINK CARD

Back 73

In provinces where automobile insurance is provided by private insurers, a pink card is used to provide proof of financial responsibility.
OR
In provinces having compulsory government insurance plans, the pink copy of the certificate of registration serves as proof of financial responsibility.

Front 74

AGENCY AGREEMENT

Back 74

A written agreement or contracty between the insurer and the brokerage which acknowledges their relationship.

Front 75

ACTUAL CASH VALUE

Back 75

New or replacement cost of the property at the time of the loss, LESS depreciation.

Front 76

PERIL

Back 76

The cause of loss.

Front 77

VOID CONTRACT

Back 77

One which is unable in law to support the purpose for which it was intended. Such contracts are deemed never to have existed.

Front 78

CIVIL LAW

Back 78

Law that concerns itself with settling disputes between individuals or other legal entities in matter not involving a criminal act.

Front 79

UTMOST GOOD FAITH

Back 79

The law requires insurance contracts maintain a higher standard of honesty than is needed of other contracts. (the duty of utmost good fait applies to the insured, the insurer and the broker/agent)

Front 80

HOSTILE FIRE

Back 80

A fire that passes outside of the limits assigned to it. ie: spark thrown from fireplace that burns carpet is hostile fire.

Front 81

TEMPORARY SUBSTITUTE AUTOMOBILE

Back 81

One which is temporarily being used as a substitute for the automobile described on the policy. It qualifies only if the described automobile cannot be used because of its breakdown, repair, servicing, loss, desruction or sale.

Front 82

UNIDENTIFIED AUTOMOBILE (as defined in AB coverage)

Back 82

One in which the identity of either the owner or driver cannot be ascertained and which causes bodily injury or death to an insured person arising out of the actua contact of that automobile with the automobile in which the insured is an occupant.

Front 83

OCCUPANT

Back 83

Any person who drives the automobile OR is being carried on or upon or entering into or leaving the automobile.

Front 84

CAIB 1

Back 84

CAIB 1