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CAIB 1 Definitions - Ch. 6, 7
CAIB 1 Definitions - Ch. 6, 7 as per ILS notes
7
Insurance
Professional
08/02/2013

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Cards

Term
Pink Card
Definition
In provinces where auto ins. is provided by private insurers, a PINK CARD is used to provide proof of financial responsibility.
Or, in provinces having compulsory government ins. plans, the PINK COPY of the certificate of reg serves as proof of financial responsibility (pg 6-6)
Term
Facility Association
Definition
An insurance pool in which all licensed automobile insurers participate and which provides insurance to those who may be refused insurance by private insurers (pg 6-8)
Term
Driver's Abstract
Definition
A record of the driver history of the applicant and other drivers which can be obtained from provincial licensing authorities. (pg 6-9)
Term
Uninsured Automobile
Definition
One in which neither the driver nor the owner has collectible bodily injury liability insurance (pg 6-21)
Term
Unidentified Automobile
Definition
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 actual contact of that auto with the auto in which the insured is an occupant (pg 6-21)
Term
General Average
Definition
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 (pg 6-26)
Term
Temporary Substitute
Definition
Automobile - one which is temprarily beaig used as a substitute for the automobile described on the policy
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