Broker Training - Senate Transit Underwriters

FSP Name:

FSP Number:

Name of Representative:

Email Address of Representative:

Question 1

The Senate transport company goods in transit policy insures the following:

A. The legal liability of the transporter for loss or damages to the goods transported
B. The vehicle used to transport the goods
C. Consequential losses
D. Damages caused to third party property

Question 2

The Senate owner goods in transit policy insures the following:

A. The vehicle and trailers used to transport the goods
B. The cargo owner for loss or damage to their own goods
C. All of the above
D. None of the above

Question 3

The transport broker contingent policy is designed to do what:

A. Insure the transporter for loss or damages to goods transported
B. Insure the transport broker against non-payment of a claim by a subcontractor.
C. Insure the cargo owner for loss or damages to their own goods
D. All of the above

Question 4

In terms of clause 19 of the transport company git policy all claims /losses (other than hijacking) must be advised to the insurer to the insurer in writing:

A. Within 5 days of the occurrence giving rise to the loss
B. Within 10 days of the occurrence giving rise to the loss
C. Within 30 days of the occurrence giving rise to the loss
D. None of the above

Question 5

In terms of clause 19 of the transport company git policy all hijacking losses must be advised to the insurer in writing:

A. Within 30 days of the occurrence giving rise to the loss
B. Within 60 days of the occurrence giving rise to the loss
C. Within 7 days of the hijacking taking place
D. None of the above

Question 6

In terms of clause 24 (exclusions) of the Senate transport company git policy, in no case shall the policy cover:

A. Loss or damages attributed to wilful misconduct of the insured
B. Loss or damages caused by delay
C. Consequential loss
D. All of the above

Question 7

In terms of clause 11 (duration clause) of the Senate transport company git policy, cover attaches:

A. Once the load instruction is received by the transporter
B. Whilst the vehicle is no longer in transit
C. Once the goods have been loaded onto the conveying vehicle
D. Once the goods have been offloaded from the conveying vehicle

Question 8

In terms of clause 20 (special policy warranty) of the Senate transport broker git policy wording, it is warranted that the transport broker has:

A. Obtained written confirmation of details of the subcontractors own adequate insurance cover, before any load transportation is subcontracted to the subcontractor.
B. Created a binding contractual liability on the part of the subcontractor for any loss or damage to the goods.

Include in a written transport agreement a written condition that the transport broker has the right to withold all monies otherwise payable to the subcontractor in lieu of any loss or damage to the goods.

D. All of the above

Question 9

The contingent transport broker policy contains the following exclusions:

A. Overloading
B. Drunken driving or driving under the influence of drugs
C. Unattended vehicles/ vehicles not parked in a secure compound
D. None of the above

Question 10

The Senate transport broker git policy provides cover for the following:

A. Tarpaulins, nets, ropes and chains
B. Debris removal
C. Consequential loss
D. Driver fidelity

Question 11

The extensions provided under the additional policy benefits apply to:

A. The Senate transport company git policy wording
B. The Senate contingent git policy wording
C. The Senate owner git policy wording
D. All of the above

Question 12

In terms of the debris removal & clean up costs extension under the additional policy benefits, cover is automatically extended to include expenses reasonably incurred by the insured for the removal and disposal of insured goods subject to a maximum policy limit of:

A. R10 000.00 subject to a R5000 excess
B. R25 000.00 subject to a R2500 excess
C. R15 000.00 subject to a R1000 excess
D. R30 000.00 subject to a R5000 excess

Question 13

In terms of the tarpaulins extension under the additional policy benefits, cover is automatically extended to include tarpaulins, cargo nets, ropes, chains and corner plates subject to a maximum policy limit of:

A. R10 000.00 subject to a R5000 excess
B. R25 000.00 subject to a R2500 excess
C. R15 000.00 subject to a R2500 excess
D. R30 000.00 subject to a R5000 excess

Question 14

In terms of the salvage / load recovery extension under the additional policy benefits, cover is automatically extended to include expenses reasonably incurred by the insured in respect of salvage, sorting & repacking costs subject to a maximum policy limit of:

A. R10 000.00 subject to a R5000 excess
B. R30 000 subject to a R5000 excess
C. R25 000 subject to a R2500 excess
D. R15 000 subject to a R2500 excess

Question 15

In terms of the duration of cover extension under the additional policy benefits cover also applies while the insured goods are off loaded from the conveying vehicle whilst in temporary storage during the ordinary cousre of transit, limited to a maximum storage period of:

A. 24 hours
B. 36 hours
C. 48 hours
D. 72 hours

Question 16

In terms of clause 16 (cancellation clause) of the Senate transport company git policy, the policy may be cancelled by either the insured or the insurers by giving:

A. 24 hours notice of cancellation
B. 30 days notice of cancellation
C. 2 weeks notice of cancellation
D. None of the above.

Broker TrainingUnderstanding the Senate policy wording