Spring 2016 Q1b
I was wondering why the following highlighted answers were not considered part of "contents of the insurance policy". The question sounds hard, but if you can just re-phrase the restricted solutions they should also allowed disclosure requirements (vs. duty to disclose)?
Question
Other than duty to disclose and contents of the insurance policy, indemnity four area of the insurance contract that the provincial government regulates
Sample answers
- premium payment
- reinstatement
- insurable interest
- policy terms
Other accepted answers
- Contract taking effect
- Incontestability
- Designation of beneficiaries
- Insured dealing with the contract
- Wording of the contract
- Claims settlement
- Coverages
- Agents licensing
- Approval of rates
- Statutory conditions
- Policy conditions
- Rating variables
- Consumer protection
- Marketing practices
Comments
I think when the question said other than "contents of the insurance policy" they meant it absolutely literally. So they accepted "wording of the contract" even though it is obviously part of the contents of the policy. Same for the statutory conditions and policy conditions. (They are being pedantic.) Still, if I was answering this question, I would avoid those 3 highlighted items because their grading rubric is unpredictable.
And technically "duty to disclose" is different from "disclosure requirements", but it depends on how pedantic they choose to be when grading. To be on the safe side I would probably avoid any answer that contains the word "disclose" or "disclosure".