Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Under Third Party Liability the insurer DOES NOT agree to:

Investigate, negotiate, settle terms.
Reimburse the insured for the legal expenses that are submitted by the lawyer that the insured hired.
Defend civil actions against the insured.
Reimburse insured for out of pocket costs for immediate medical aid.

The correct answer is: Reimburse the insured for the legal expenses that are submitted by the lawyer that the insured hired.

Under Third Party Liability, the insurer agrees to investigate, negotiate, and settle terms with the third party on behalf of the insured. This includes defending civil actions and reimbursing the insured for medical costs incurred for immediate aid. However, the insurer does not agree to reimburse the insured for any legal expenses submitted by a lawyer that the insured hired. Therefore, option B is incorrect because it goes against what the insurer agrees to under Third Party Liability.