Course Description
This course provides a general overview of
insurance principles, beginning with frequently used terms and their
definitions as used in the industry. As the course develops, it illustrates the
insurance process and its need, and then grows into a manual of sorts, guiding
the reader through the various mechanics, the type of insurance products
available, and the applicability in different situations, illustrating with
examples wherever possible.
Course Objectives
·
Differentiating between insurance, insured and insurer
·
Understanding the concept of premium
·
Understanding the similarities between risk transfer mechanisms
and insurance
·
Being familiar withkey concepts/terms used in relation to
insurance
·
Learning the mechanics of insurance
·
Understanding the mechanics of Life Insurance, its need and
importance
·
Differentiating between the various types of insurance companies
·
Understanding the concepts of Whole Life Insurance, Joint Life
Insurance etc
·
Identifying the various types of Permanent Insurance
Who Should Attend?
·
Managers
·
Financial & Accounting
Professionals
·
Human Resource Professionals
·
Insurance Professionals
Program Schedule
DAY 1
·
Definition of Insurance
·
Parties to the Insurance contract
·
Nature of Insurance contract
·
Life insurance
·
Health insurance
DAY 2
·
Insurable interest
·
The making of insurance contract
·
The proposal form
·
The principle of good faith
·
Long-term care insurance
·
Disability insurance
DAY 3
·
Non-disclosure
·
Misrepresentation
·
The premiums
·
The policy
·
Property and casualty
DAY 4
·
The claim
·
The settlement of claim
·
Personal property insurance
·
Fire insurance
·
Automobile insurance
DAY 5
·
Agency in insurance transactions
·
Insurance fraud
·
Group insurance
·
Commercial general liability
·
Principles of risk management
·
Principles of reInsurance
