The PROPERTY PROGRAM provides the claims professional, whether a property specialist or generalist, an understanding of the legal principles that are the foundation for handling all property claims, from the most basic to the most complex. The student will learn how these principles have been and are now being applied by the courts to interpret contract language and decide disputes over the various personal and commercial lines coverages.
NOTE: For Program completion all required courses and three electives must be taken.
310 PROPERTY INSURANCE PRINCIPLES
(Required) (Course Textbook Consists of 142 Pages)
This course will enable the student to understand the legal rights and responsibilities of insurance agents, brokers, and adjusters in procuring and servicing property insurance; understand the meaning of insurable interest and how to recognize its importance in any investigation; and have a thorough understanding of property insurance basics as a foundation for the study of specific coverages.
1. Introduction to Property Insurance
2. Contract Principles and Property Insurance Concepts
3. Policy Provisions
311 FIRE AND EXTENDED COVERAGE PERILS
(Required) (Course Textbook Consists of 130 Pages)
This course will enable the student to understand the fire and extended coverage perils, interpret judicial decisions involving those perils, and understand the elements of basic fire coverages and how the fire and extended coverage perils as originally contained in the N.Y. Standard Form and the Extended Coverage Endorsement provide the foundation for modern homeowners and commercial policies.
1. Fire Insurance
2. Extended Coverage
3. Common Provisions
312 LOSS ADJUSTMENT AND SUBROGATION
(Required) (Course Textbook Consists of 154 Pages)
This course will enable the student to understand the rights and duties of insurer and insured in handling loss adjustments; understand legal interpretations of policy requirements for notice, proof of loss, examination under oath, etc.; understand the rights and responsibilities of the insurer with respect to value and loss, ordinances regulating construction, appraisal, salvage, etc.; understand the importance of a non-waiver agreement and when it must be obtained; and understand how to avoid first party bad faith.
1. Rights and Responsibilities of the Insured
2. Rights and Responsibilities of the Insurer
3. Interests of Third Parties
313 ARSON AND FRAUD
(Required) (Course Textbook Consists of 138 Pages)
This course will enable the student to understand and apply the elements of arson and fraud and to determine the necessary proof for arson and fraud defenses without exposing the insurer to civil liability.
3. Common Issues in Arson and Fraud
4. Actions Against the Insurer
314 HOMEOWNERS: PROPERTY COVERAGES
(Elective) (Course Textbook Consists of 168 Pages)
This course will enable the student to understand judicial interpretations of Section I - Property Coverages under the Homeowners program including variations among the ‘76, ‘84, ‘91, and 2000 forms. Analyzes policy definitions and the insuring agreements. Discusses the various policy forms and perils covered. Treats all policy sections as well as key endorsements. Clarifies policy exclusions.
1. Homeowners Policies
2. Property Insurance Coverages
3. Property Insurance Exclusions
4. Policy Conditions
315 HOMEOWNERS: LIABILITY COVERAGES
(Elective) (Course Textbook Consists of 168 Pages)
This course will enable the student to analyze the Homeowners Section II coverages, including liability and medical payments to others. Clarifies policy definitions, discusses the scope of coverage and explains the limitations on coverage, including exclusionary language. Emphasizes recent litigation on the intentional acts and business pursuits exclusions and analyzes the duty to defend.
1. The Insuring Agreement
2. Section II — Exclusions
3. Additional Coverages
316 COMMERCIAL PROPERTY COVERAGE
(Elective) (Course Textbook Consists of 176 Pages)
This course will enable the student to understand the many different commercial coverages available and to better evaluate claims arising under commercial property coverages.
1. General Provisions
2. Covered Causes of Loss
3. Time Element Insurance
4. Reporting Form Insurance
317 INLAND MARINE
(Elective) (Course Textbook Consists of 178 Pages)
This course will enable the student to understand the origin and development of Inland Marine insurance and analyze the various coverages, including transportation, bailee's customers, personal and commercial floaters, dealers block and builders risk, focusing on issues in legal interpretation and application.
2. Transportation Coverages
3. Bailments and Warehouses
4. Dealers Block Policies
5. Builders Risk Insurance
318 YACHT AND BOATOWNERS INSURANCE
(Elective) (Course Textbook Consists of 150 Pages)
This course will enable the student to understand the laws surrounding boat ownership and operation, and the coverages available to protect against first and third party losses through the Yacht and Boatowners policies.
1. Admiralty Law and Maritime Jurisdiction
2. Introduction to Marine Insurance
3. First Party Insurance
4. Third Party Insurance
5. Medical Payments
6. Workers' Compensation Insurance