Insurance Principles Series
Insurance Contracts Course
Why you need this course:
The essence of insurance is the insurer’s promise that it will pay claims in the future for losses that are covered under the policy. The evidence of this promise is the insurance contract, or policy. For this reason, the language and intent of the contract must be closely analyzed to determine whether a valid contract exists and whether a claim will be paid. This course provides you with the foundation needed for such an analysis—from understanding contracts in general to the special characteristics of an insurance contract, including its content and its structure.
Upon successful completion of all ten modules in this course, you should be able to:
- Explain the four elements of any valid contract.
- Describe the special characteristics of insurance contracts.
- Describe the principle of indemnity.
- Summarize the information usually found in the declarations page(s) of an insurance policy.
- Explain the purpose of the following categories of insurance policy provisions:
- Definitions
- Insuring agreements
- Exclusions
- Conditions
- Miscellaneous provisions
- Distinguish between manuscript policies and standard forms.
- Describe the advantages and disadvantages of standard forms to insurers and insureds.
- Distinguish between a self-contained policy and a modular policy.
- Describe the conditions commonly found in property and liability insurance policies.
- Explain how subrogation works.
We recommend that you study the modules in the order presented in the course.
Cost: $48 per course (2 Professional Development Hours @ $24 per hour)
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