Actuarial Notes

Exam 6C Practice Question 5

Study guide: Exam 6C

A homeowner insured by an Insurance Bureau of Canada (IBC) member company finishes a major renovation in March. Her policy renews in November. In June, a claim she makes on a different matter is denied.

Determine which of the following statements are consistent with the IBC's Code of Consumer Rights and Responsibilities.

  • I. When it denies her claim, the insurer is expected to tell her why.

  • II. If she is unhappy with how her complaint is handled, she may contact her provincial insurance regulator or the General Insurance OmbudService.

  • III. She may wait until her November renewal to tell the insurer about the renovation.

  • A) I only

  • B) I and II only

  • C) I and III only

  • D) II and III only

  • E) The answer is not given by (A), (B), (C), or (D)

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