DESCRIPTION
Despite insurance seeming quite complex, it is all based around 6 core principles, and understanding these principles will help you understand how an insurance contract is formed, and what happens when a claim is submitted.
This course will also explore how the insurance industry interprets the word ‘risk’ and how insurers and underwriters alike analyse the risks to determine the formation of the insurance contract.
Finally, we the course will explore the necessary administration required when the insurance contract is in place.
OBJECTIVES
- Apply the six core principles to everyday insurance contracts
- Recognise what can/needs to be insured
- Identify how an underwriter calculates a premium
- Recognise the lifecycle and policy documentation involved with the administration of an insurance policy
