Every business needs insurance to mitigate its exposure to risk. This course is designed to enhance one's knowledge of business insurance by providing an overview of the insurance industry, including the operations and distribution systems of insurers. It also notes the more common insurance policy terms and conditions, the types of insurance most applicable to businesses, and how to manage and account for insurance. There is a particular emphasis on managing the cost of insurance. In short, this course shows how to determine which risks require insurance and which types of insurance to buy.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the types of insurance offered by insurers.
Identify the classifications of sellers of insurance products.
Specify the measurements used to judge the performance of insurers.
Recognize the conditions needed for a risk to be insurable.
Identify the reasons for the different clauses used in an insurance contract.
Specify the benefits and problems associated with each type of insurance.
Identify the differences between the various types of life insurance.
Recognize the methods used to reduce the cost of insurance.
Specify the circumstances under which self-funded insurance might be successful.
Major Topics
Overview of Business Insurance
Types of Business Insurance
Insurance Management
