Course of Study Content Requirements

Time Distribution Requirements

I.

Insurance and Insurance-Related Concepts

25%

A.

Risks

B.

Hazards

C.

Indemnity

D.

Insurable interest

E.

Actual cash value

F.

Replacement cost

G.

Coinsurance

H.

Specified (named) perils

I.

All-risk

J.

Burglary

K.

Robbery

L.

Theft

M.

Mysterious disappearance

N.

Negligence

O.

Liability

P.

Accident

Q.

Occurrences

R.

Warranties

S.

Representations

II.

Policy Provisions

20%

A.

Declarations

B.

Definition of the insured

C.

Insuring agreement

D.

Duties of the insured

E.

Obligations of the company

F.

Cancellation and nonrenewal provisions

G.

Supplementary payments (additional coverages)

H.

Vacancy and unoccupancy

I.

Abandonment

J.

Mortgage rights

K.

Proof of loss (notice of claim)

L.

Appraisals

M.

Pro-rata liability (other insurance)

N.

Assignment

O.

Subrogation

P.

Compliance with provisions of Fair Credit Reporting Act

III.

Types of Policies

25%

A.

Standard fire policy

1.

General property form including extended coverage

2.

Time element policy

a.

Gross earnings

b.

Earnings

c.

Extra expense

B.

Homeowners

C.

Inland marine-Personal article floater and pleasure craft

D.

Special multi-peril

E.

National flood

F.

FAIR plan

G.

Mine subsidence

IV.

Perils, Exclusions, Deductibles, and Liability

24%

A.

Property covered

B.

Perils covered

C.

Exclusions, extensions, limitations, and conditions

D.

Deductibles

E.

Limits of liability

F.

Bodily injury and property damage liability

V.

Prospecting and Evaluating Needs

2%

A.

Keeps current as to changes (e.g., markets, introduction of new coverages) in types of coverages that might expand coverage for current clients or increase the number of potential clients

B.

Reviews prospect's existing policies to prevent duplication of coverage and determine areas of further potential coverage

C.

Obtains information necessary to analyze risks, hazards, and exposures

D.

Analyzes risks, hazards, and exposure in order to determine prospect's needs

E.

Evaluates continued adequacy of protection, determines unprotected exposures, and recommends suitable changes in coverage

F.

Contacts accounts at renewal time and reviews existing policies

VI.

Servicing Clients

2%

A.

Explains services (e.g., claims, safety programs) provided by insurance producer and company

B.

Assists policyowner with service needs (e.g., change of name, change of mode of premium payment)

C.

Maintains accurate records of client data (e.g., change of address)

D.

Assists in filing and following up in claims

VII.

Presentation and Acceptance

2%

A.

Informs insured and carrier of date and time coverage takes effect

B.

Prepares and forwards proposal, application, and other pertinent information to appropriate carrier for underwriting and premium determination

C.

Maintains complete records of all business transactions as required (e.g., pending files, binders, binder charges, and premium accounting)