Earthquake Insurance (Generic)

Overview

Unlike many other natural disasters, earthquakes occur suddenly, without warning. Virtually impossible to predict, earthquakes can cause major damage to buildings and personal property, as well as serious injuries and deaths.

This course equips insurance producers with the knowledge and understanding needed to provide clients with appropriate earthquake coverage options and to inform them of any limitations on their earthquake coverage. It explains the extent to which standard insurance policies cover—and often fail to cover—earthquake losses. The course also describes endorsements, policy modifications, and other options that can be used to fill coverage gaps and to provide earthquake coverage. The topic is addressed with respect to personal lines insurance, commercial property policies, and businessowners policies.    

Learning Objectives

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

  • identify the basic characteristics of the earthquake exposure and recognize the extent of the exposure within the United States
  • recognize the effect of various earthquake-related exclusions and limitation in homeowners policies and other personal lines policies
  • identify homeowners endorsements that can be used to provide earthquake coverage and recognize the effect of earthquake deductibles, limits, and other relevant coverage provisions found in these endorsements
  • recognize the effect of various earthquake-related exclusions and limitation in commercial property policies, businessowners policies, and other commercial lines policies;identify commercial property and businessowners endorsements that can be used to provide earthquake coverage and recognize the effect of earthquake deductibles, limits, and other relevant coverage provisions found in these endorsements
  • recognize the extent to which other types of common personal lines and commercial lines policies cover or exclude earthquake losses
  • identify the key characteristics of DIC policies and recognize how these policies can be used to provide earthquake coverage.

Designed For

P&C producers
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.
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