Session 1:

• Apply the principle of Insurable Interest to case studies

• Outline when and how Insurable Interest exists and can be amended

• Explain the underwriting process and the importance of disclosure of material facts.

• Distinguish between perils and physical and moral hazards applying to selected classes of insurance

• Recall the action taken in the event of non-disclosure of material facts

• Identify those facts that do not constitute non-disclosure if withheld

Session 2:

• Identify the different methods of risk identification including proposals, surveys, slips, IT systems

• Explain in outline the purpose of the heading of the risk detail section of an MR contract placing document

• Outline the relevance and application of quotations

• Outline the internal and external factors that influence a premium rate

• Accurately calculate burning rate, premiums and commission

• State the nature and function of the documentation used in insurance including policies, endorsements and warranties and FSA required documentation

• Explain the market exclusions applicable to policies

• Recall the operation of policy conditions

• Distinguish between warranties, conditions and representations

Session 3:

• Outline the process of settling claims including the responsibilities of the insured and the insurer

• Identify the people and documents that are used in investigating claims

• Explain the principle of proximate cause

• Apply the principle of proximate cause to simple claims under a Standard ABI Fire policy

Session 4:

• Explain the principle of indemnity

• Identify the factors taken into account when quantifying indemnity

• Recall and apply the limitations to claim settlements including, Sum Insured, Average, Deductible, Co-insurance, First Loss,

• Explain the importance of subrogation and contribution

• Outline the ways in which contribution and subrogation arise

• Apply the principles of contribution and subrogation to simple claims

Course Close