Unit 1 provides an introduction to general insurance and includes topics such as: what is risk and how can people deal with it, understanding the elements of a contract, indemnity, and how a claim is settled. Students will also learn about the role of government in insurance and how insurance is distributed.

Unit 1 Module 1

Why do we have insurance? It is the best way to deal with the financial risks each of us deal with. Insurance is a contract and students will learn to identify the five elements of any contract and the three additional elements of an insurance contract. An analysis of the Indemnity Agreement will show students how the insurer indemnifies the insured when a loss occurs.

  (duration 5:21)

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Unit 1 Module 2

How does the government affect the insurance that brokers sell? Students will learn about the three basic coverages as well as the standard exclusions required by law in every fire policy. We’ll also discuss the 15 Fire Statutory Conditions or rules and the other legislated requirements found in every fire policy.

Unit 1 Module 3

This is a relatively short module that discusses the two major types of insurers, private and government, and the two most common methods of distribution of insurance, the independent agency/brokerage system and the direct writing system.

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