This course examines the many gaps that can occur between an organization’s loss exposures and its insurance coverage. The course also describes various steps that an organization can take to prevent injury from falling into a coverage gap.

Most of the coverage gaps that are identified and discussed in this course are drawn from comments posted in the International Risk Management Institute, Inc. (IRMI), LinkedIn group as well as from research conducted by the IRMI research team. They are not an academic exercise—they are real, and they exist in many commercial lines insurance programs. This course is a practical guide for identifying and closing common coverage gaps. Any risk manager, risk management consultant, agent, or broker who masters and applies the knowledge in this course will, as a result, become more effective in protecting the organizations he or she serves by minding the gaps in coverage.

Upon completion of this course, students should be able to: 

• in a given case, identify common coverage gaps in commercial auto, general liability, workers compensation, umbrella liability, D&O, management liability, property, time element, inland marine, and crime insurance programs
• recognize the issues that lead to coverage gaps;identify pertinent coverage gaps in an organization’s insurance program
• recognize how and why coverage gaps arise
• select appropriate alternatives to close the gaps by making an appropriate change to the policy containing the gap or choosing an additional form of insurance to cover the gap