Core Courses

Essentials of Regulations, Statutes, and Motor Carrier Liability Coverage

Course Details

hours
0.0
price
$99.00
This course is not subject to discount pricing.

Additional Credit Available:

Optional Insurance CE
Optional CPA CE

Exam Requirements

Monitor Required: 

No

Passing Grade: 

70%

Please note: Adding Additional Credit may change exam requirements.

Course Description
Transportation is a major force in the U.S. economy, and the trucking industry is a major force in transportation. This course introduces trucking exposures and insurance to finance those exposures, focusing on the standard coverage forms developed for this line by Insurance Services Office, Inc. It examines key motor vehicle statutes, the public policy issues behind the statutes, and the effect of these statutes on various types of commercial auto and motor carrier coverages.

The course begins by taking a broad look at some of the most common types of statutes and then moves on to a detailed analysis of the business auto coverage form and the motor carrier coverage form (2013 edition dates). Following that is a review of common endorsements to modify policy provisions, expand or restrict coverage, add additional insureds, and tailor the policy to apply to specific types of risks. The policies’ declarations pages are also considered at some length, and contractual and hired/nonowned exposures are discussed from the perspective of the various exposures.

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

  • recognize the effect of certain motor vehicle statutes that have been enacted to deal with the economic consequences of motor vehicle accidents
  • compare the purposes and identify similarities and differences among business auto and motor carrier insurance policies
  • given a stated objective, select appropriate coverage symbols for each of the coverages in business auto and motor carrier policies
  • identify the parties insured by business auto and motor carrier policies
  • recognize the purpose and effect of the exclusions found in business auto and motor carrier policies
  • recognize the effect of various regulations affecting motor carriers
  • select appropriate endorsements to modify a business auto and motor carrier policy to accomplish stated objectives, and recognize the effect of those endorsements
  • given a case situation and relevant policy information, determine whether and to what extent a given commercial auto or motor carrier loss would be covered

Prerequisites
An understanding of motor carrier/trucking exposures and insurance coverage.

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 was the first publisher of reference content covering the field of risk finance in 1983 with the publication of Risk Financing, a comprehensive reference resource on all aspects of traditional and alternative market approaches. IRMI is also publisher of the first newsletter to cover the field of captives, Captive Insurance Company Reports; two comprehensive books on the subject of captive insurance; and Captive.com, the first and foremost information resource and networking center on the Internet for the alternative market. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned risk and insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.