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Orientation to Property & Casualty Insurance
The Orientation to Property/Casualty Insurance Industry course is designed for those interested in obtaining a broad overview of the property/casualty insurance industry. Participants will learn how the property/casualty insurance industry is structured; how insurance products and services are distributed to the consumer; how insurance company departments function are organized and function; how reinsurance is used to create an insurance company and insure large property and high liability values/limits; review civil laws of torts and contracts so you better understand liability insurance contract coverages; how occurrence liability insurance coverage is activated, the risk management process and "cost of risk" concept, and other property/casualty insurance concepts and issues. Additionally, you will review commercial ISO insurance contracts (specifically property, business income, commercial auto, crime, and liability coverages) commonly used in the property/casualty insurance industry.
You will be able to achieve the following after completing this course...
- Explain the beginnings of the modern property/casualty insurance system (Lloyds of London); the differences between stock, mutual, direct writing insurance companies; admitted/non-admitted companies; agent vs. broker; and the benefit the insurance industry offers society
- Explain and illustrate how reinsurance is used to create an insurance company
- Describe, illustrate, or explain the following concepts: principle of indemnity, valued policy, liability limits (split and single BI/PD), loss ratios, occurrence liability form, risk, peril, and risk management
- Explain and illustrate the civil law system and how insurance liability contracts protect families and organizations from Civil Law risks of negligence, intentional acts, strict liability, and contracts
- Describe basic coverages, conditions, and exclusions of ISO insurance forms for Commercial Property, Commercial General Liability, Commercial Auto, Workers' Compensation, Crime, Directors and Officers (D&O), and Umbrella insurance contracts
- Explain the importance of risk management and "cost of risk" to a business
Refund Policy
The course must be completed within 90 days of the date of purchase. A full refund, less a $30 fee, will be given within one week of registration if you are not satisfied with the product. No refund after one week. If student desires, instead of refund, he/she will be allowed to transfer into a classroom course or online instructor led course at public price with credit for entire online cost (no $30 fee).
Click the Add to cart button below. After checking out through the secure check out link, your username and password will be immediately emailed to you. You can then begin your course at any point!
Continuing Education
Approved for 6 hours ce for California fire/casualty agent/brokers.
Cost: $39.00
Duration: 90 days
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