Commercial Automobile Coverage Overview Commercial automobile insurance can be written as a monoline policy or as a part of the Commercial Package Policy. When issued as part of the Commercial Package Policy, the common Policy Declarations and Common Policy Conditions are joined by the Commercial Automobile Part, which consists of the following: One or more […]
Casualty Insurance: Unit 5
December 10, 2012 by
Commercial General Liability Coverage Part Overview Every business firm has certain legal liability exposures that must be covered under General Liability Policies. This chapter will examine the Commercial General Liability Coverage Part of the Commercial Package Policy Areas of General Liability Exposure to a Business Premises and Operations Exposure 1. A building owner or tenant […]
Casualty Insurance: Unit 6
December 10, 2012 by
Commercial Crime Coverage Part Overview Crime Insurance provides protection against the peril of dishonesty. Coverage is divided into two primary classes: those designed to cover designed to cover theft or dishonesty on the part of the employees of the insured, and those designed to cover dishonest acts of persons who aren’t employees of the insured. […]
Casualty Insurance: Unit 7
December 10, 2012 by
Business Owners Liability Coverage Overview The Business owners Policy is a package policy designed for small – to medium- sized business firms that don’t require extensive underwriting. The Business owners Policy accomplishes for an eligible business what a Home owners Policy accomplishes for a private residential property in that the policy is multi-line, combining both […]
Casualty Insurance: Unit 8
December 11, 2012 by
Workers’ Compensation Overview Under Workers’ compensation laws, benefits must be paid for on- the- job injuries, regardless of negligence on anyone’s part. This means that even if the employee is injured through their own negligence, they are entitled to benefits, and can’t sue their employer. In addition to providing for payments of benefits to employees […]
Casualty Insurance: Unit 9
December 11, 2012 by
Workers’ Compensation and Employers Liability Insurance Policy Overview Although insurers aren’t required to use a standard Workers’ Compensation policy form, many insurers use forms that are very similar to the standard form developed by the National Council on Compensation Insurance. The policy consists of the following parts: Compulsory Insurance Law Louisiana has a compulsory Workers’ […]
Casualty Insurance: Unit 10
December 11, 2012 by
Miscellaneous Liability Policies Overview This chapter is designed to present and discuss liability related policies and contracts not addressed in previous chapters, and will include the following markets or areas of endeavor: umbrellas, specialty or professional, surety and fidelity bonding, farming aviation and watercraft liability Umbrella and Excess Liability Insurance Excess Liability Policy An Excess […]
Casualty Insurance: Unit 11
December 11, 2012 by
Louisiana State Insurance Law (CODE) Overview The purpose of this chapter is to acquaint students with those state statutes that pertain to insurance and that are included in pre licensing. The primary purpose of licensing is to protect the general public. License Qualifications There are four classes of insurance for which a license is required: […]
Ethics For Insurance Professionals Test
March 29, 2013 by
This is the final test for the Ethics for Insurance Professionals course. In order to receive credit, you must pass this test and submit your results along with your full name and license number.
Casualty Insurance Test
April 23, 2013 by
This is the final test for the Casualty Insurance course. In order to receive credit, you must pass this test and submit your results along with your full name and license number.
Interpreting a Flood Insurance Policy Final Test
April 23, 2013 by
This is the final test for the Interpreting a Flood Insurance Policy course. In order to receive credit, you must pass this test and submit your results along with your full name and license number.
Life, Medical, Health and Dental: Unit 1
May 28, 2013 by
Louisiana Laws, Rules and Regulations The regulation of the insurance industry rest primarily with each state. In Louisiana, the agency that governs this responsibility is the Department of Insurance also known as the DOI. The DOI is responsible for licensing of producers and all persons involved in the business of insurance for the state of […]
Life, Medical, Health and Dental: Unit 2
May 28, 2013 by
Producer Responsibilities and Restrictions Change of Address – When a producer’s license is being applied for a correct and current mailing must be given to the Department of Insurance. If this changes, (residential, business or mailing) the producer must notify the Department of Insurance within ten (10) days if in state. If they move to […]
Life, Medical, Health and Dental: Unit 3
May 28, 2013 by
Life Insurance Illustrations The three types of illustrations are: Basic– used in the solicitations that cover all values in a policy. Supplemental– used with basic but focuses on non-guaranteed benefits. In-Forced– used after the policy has been enforced for one year. The regulations that do not apply are: Variable based insurance, Annuities, Group, and […]
Life, Medical, Health and Dental: Unit 4
May 28, 2013 by
Introduction to Insurance Method of sharing risks Definition of Insurance Three forms of economic death Ways in which to respond to a risk Risk, peril and hazard Law of Large Numbers Insurance and Gambling Company definitions Dividends Type of hazards Company makes money Purpose of Life and Health Insurance Risk – Sharing a loss […]
Life, Medical, Health and Dental: Unit 5
May 28, 2013 by
Life Insurance Regulation and Policy Provisions The Louisiana Department of Insurance regulates: Policy Content Sales practices Insurance companies financial stability Advertising All communication with the public is advertising, including a producer’s oral sales presentation. Advertising cannot mislead by: Lies Exaggerations Omissions Cost Comparisons cannot ignore the time value of money. Company Solvency Regulators […]
Life, Medical, Health and Dental: Unit 6
May 28, 2013 by
Uses of Insurance and Annuities for Business and Retirement Business Uses- the same policies that were used to offset mortality risk for individuals and families can be used for businesses as well. The function is an almost identical fashion. Key Employee Life – The lives of employees: This is critical to the future success of […]
Life, Medical, Health and Dental: Unit 7
May 28, 2013 by
Flexible Policies Address two needs: More flexibility Greater potential for growth Adjustable Life Insurance Policy There are three choices: Death benefit Premium Type of insurance Insured would choose two of these that will dictate the third. The policy can be Term or Whole Life and can be easily changed from one to the other. The […]
Life, Medical, Health and Dental: Unit 8
May 28, 2013 by
Group Life and Concepts Group Insurance – is the same products that we have studied with a different way of marketing. Legally acceptable Groups or Organized Entities Single Employer Labor Union Association with a minimum of at least 100 members Credit union Creditor – the organizing entity cannot be the beneficiary is the […]
Life, Medical, Health and Dental: Unit 9
May 28, 2013 by
Dental Plans Dental Plans can be discounted or reduced-fee programs attached to your Medical Insurance. These programs are designed for health conscious consumers looking to maintain their oral health and minimize their dental care expenses. General dentists who participate in these plans agree to accept the Dental contracted rate as payment in full for services […]