Analyzing Property/Casualty Insurance Policies and Their Key Provisions

Course Description

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.

Learning Objectives
This is an intermediate-level course. Upon completion, students will be able to:

  • recognize the meanings of terms used to describe insurance policies and their components
  • identify the types of information found in an insurance policy’s components and the purpose or function of each component
  • identify the steps in an organized approach to post-loss policy analysis and recognize what is involved in each step
  • identify the steps in an organized approach to pre-loss policy analysis and recognize what is involved in each step
  • recognize important rules that courts and others apply when interpreting insurance policies


Prerequisites
A basic understanding of risk and insurance

CPE Field of Study

Management Services

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

By IRMI

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference services. IRMI publications are considered the ultimate authority by leading insurance practitioners and even federal appellate courts when interpreting insurance coverage. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.