Ideally, every insurance buyer should read his or her insurance policy. In the real world, however, most policyholders do not read their policies until a loss has occurred to attempt to find coverage for that specific loss.  This post-loss policy analysis is something that claims representatives and insurance agents and brokers also need to follow, in order apply coverage to a known loss or answer policyholders’ questions concerning real or hypothetical losses. Effective post-loss policy analysis requires a solid understanding of how insurance policies are constructed and interpreted. Insurance professionals also must be able to analyze what types of losses a given policy would or would not cover, in order to match their clients’ exposures with appropriate coverage.

 

This course explains the nature of an insurance policy, identifies terms used to describe different types of policies, and describes the six types of components that might be found in any policy. It also describes how to analyze a policy to determine whether it covers a specific loss.