Level: Beginner
Why you need this course:
After completing this course, you’ll have a basic understanding of the elements of a valid contract, special characteristics and categories of insurance policy provisions, and the basics of policy construction.
Upon successful completion of 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.
Cost: $20 per Professional Development Hour (PDH). Information on PDHs provided can be found here.
Insurance Contracts Topics Include:
- Four elements of any valid contract
- Special characteristics of insurance contracts
- The principle of indemnity
- Information usually found in the declarations page(s) of an insurance policy
- The purpose of certain categories of insurance policy provisions, including definitions and insuring agreements
- Manuscript policies and standard forms
- Advantages and disadvantages of standard forms to insurers and insureds
- Differences between a self-contained policy and a modular policy
- Conditions commonly found in property and liability insurance policies
- Subrogation
Additional Course Resources
Additional Knowledge Solutions
E-mail: customerservice@TheInstitutes.org
Phone: (800) 644-2101
Fax: (610) 640-9576
Mail: The Institutes
720 Providence Road
Suite 100
Malvern, PA 19355-3433
Customer Service hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. eastern time.
