In our continuing series of questions from AXA Campus, Julian Hall invites you to test your knowledge on care and nursing homes insurance
This course is of interest to anyone involved in the provision of insurance to care and/or nursing homes.
Care homes vary in size. Many have less than 30 beds and in the UK, the average bed provision is around 33. A few may have 100 beds or more with some being managed by the people who own them and others belonging to large corporate groups.
Under FSA regulation, a retail customer is defined as "an individual who is acting for purposes which are outside his trade, business or profession".
Any customer not falling into this category is a commercial customer. Where there is mixed use (private and business) the client must be treated as a retail customer.
We are dealing with mixed use policies and therefore, the client must be treated as a retail customer when care and/or nursing home combined policies cover:
• The personal property of the owner or resident staff
• And/or incorporate the 'household' buildings.
The FSA regulations relating to the handling of retail business are more onerous than those for commercial business and so intermediaries should be fully aware of the differences before transacting mixed use/retail business.
Some insurers have different policy summary/key fact documents for mixed use business and intermediaries must ensure their care home or nursing home customer receives the correct version.
Additional information around the insurance conduct of business rules can be read in specific e-briefings and also on various websites including www.fsa.gov.uk
AXA Campus is an ideal learning tool as it provides over 380 courses and incorporates tailored versions of CII ed LEARN and ed ASSESS (AXA ed).
This relationship provides a natural fit between the soft and technical learning material of AXA Campus and the qualification and compliance aspects of AXA ed.
This week's questions come from the AXA Campus course Care and Nursing Homes - Assessing the Client's Needs.
The material and questions for this course are supplied to AXA Insurance by Searchlight Solutions. IT
If you are interested in using AXA Campus email: julian.hall@axa-insurance.co.uk
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