Usage-Based Insurance Program
Hi Graham,
In the BattleCard 'Prohibited Risk Classification Elements in Ontario', it doesn't mention the use of UBI data. In Fall 2018Q6, both part b and c mention that is it forbidden to use such data. Should it be added to the prohibited variables list? Are there more variables missing from that BattleCard?
Regards,
Comments
That's a good question because it highlights a very important update regarding the UBI reading. The exam question 2018.Fall Q16 pulls material from 2 readings:
The most important thing for you to know is that the answer to part (c) in the examiner's report is outdated. The updated version of the FSCO.UBI reading now permits the use of UBI data to investigate a suspicious claim. This is explained in the FSCO.UBI wiki article. (Just to be absolutely clear: the answer in the examiner's report for part (c) is wrong based on current information.)
Regarding the list of prohibited risk classification elements in the BattleCard, this list comes from FSCO.PPA. That reading has a list of 15-20 different items that are prohibited and the BattleCard wasn't intended to cover all of them. If you learn C-CONES, that should be sufficient for any exam question you might see. Many of the items in that list of 15-20 are just variations on the others but note that UBI is not mentioned in that list. Also, the sections of the FSCO.PPA reading that discuss UBI are on pages that are excluded from the syllabus.
Make sure to review the BattleTable entries for 2018.Fall Q16 in both the FSCO.PPA and FSCO.UBI wiki articles.
Got you. Just to make sure, we are talking about Fall2018 Q6, not Q16 right?
Oops, yes. Q6. (not 16)