CIP012 - Insurance on Property

Outline information
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Last revision date Apr 6, 2020 8:43:08 AM
Last review date Apr 6, 2020 8:43:21 AM

Subject Title
Insurance on Property

Subject Description
This course is an introduction to property insurance. It lays the foundation for all types of property insurance, and then discusses the perils, clauses, and limitations in the most common personal lines policies. Students will see how policies develop, with unique perils, clauses, and limitations to suit changing needs.
Pre-requisite: CIP011

Credit Status
One credit

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Explain the importance of insurance on property.

2. Analyze and interpret written legal terminology and apply it to investigation to enable solving and negotiating cases first hand.

3. Identify ethical and legal issues that impact contract based business relationships.

4. Use business principles and practice various roles existing in the insurance arena.

5. Compare and contrast similarities and differences of various legal systems used in today's business environments.

6. Summarize the provisions, obligations and conditions extended by statute law forming a mandatory part of all property policies.

7. Evaluate the development and progress from basic fire policy to include the broadest options available in today's market.

8. Illustrate the communication value of clear language wordings of policies when forming legal and binding agreements.

9. Discuss the societal responsibilities of financial institutions, their limitations, calculation of actuarially based rates and revenues, and regulatory reserving obligations.

10. Discuss the evolution and distinctive features of branches of insurance using focused and specific language familiar to the insurance industry.

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