Discipline: Business Degree Credit  [X]
Non Credit  [ ]
Nondegree Credit  [ ]
Comm Service  [ ]
 

Riverside Community College District
Integrated Course Outline of Record

Business 63


COURSE DESCRIPTION
63 Principles of Property and Liability Insurance Units: 3.00
 
Prerequisite: None.
 
Introduction to Property and Liability Insurance including types of property and liability insurers, how it is regulated, measurement of financial performance, marketing, underwriting, claims loss exposure, and risk management. 54 hours lecture.
 
SHORT DESCRIPTION FOR CLASS SCHEDULE
The principles of Property and Liability insurance including types of insurers, regulation, measurement of financial performance, marketing, underwriting, claims, loss exposure and risk management.
 
ADVISORY ENTRY SKILLS
None.

STUDENT LEARNING OUTCOMES
 Upon successful completion of the course, students should be able to:

Analyze and evaluate the needs for Property and Liability
Insurance.

Critically discuss and analyze property and liability insurance
products and their applicability to specific need situations.

Compose developed and unified written responses to case studies
involving the use and appropriateness of property and liability
insurance products, the application of regulations involving
property and liability insurance, and the handling of underwriting
and claims.
 
COURSE CONTENT
  TOPICS
 
  1. Insurance Defined
    1. Transfer System
    2. Business
    3. Contract
  2. Providers of Insurance and Regulation
    1. Types of Insurers
    2. Insurance Regulation
  3. Measurers of Financial Performance of Insurance 
    1. Insurer Profitability
    2. Insurer Solvency
    3. Monitoring Financial Performance
  4. Marketing
    1. Legal Role of an Insurance Agent
    2. Insurance Marketing Systems
    3. Compensation of Producers
    4. Advertising
    5. Marketing Management
    6. Regulation of Insurance Producers
  5. Underwriting
    1. Activities of Underwriting
    2. Underwriting Management
    3. Underwriting Process
    4. Regulation of Underwriting Activity
  6. Claims 
    1. Responsibilities of Claim Representative
    2. Types of Claim Representatives
    3. Claim Handling Process
    4. Establishing Loss Reserves
    5. Unfair Claim Practice Laws
  7. Insurance Contracts
    1. Elements of  a Contract
    2. Insurance Contracts
    3. Conditions Commonly Found in Property and Liability Insurance Policies
  8. Property Loss Exposures and Policy Provisions
    1. Property Loss Expenses
    2. Property Insurance Policy Provisions
  9. Liability loss Exposures and Policy Provisions
    1. Liability Loss Exposures
    2. Liability Insurance Policy Provisions
  10. Managing Loss Exposures: Risk Management
    1. Risk Management Process
    2. Benefits of Risk Management
  11. Career options available in the property and liability insurance industry
 
METHODS OF INSTRUCTION
 Methods of instruction used to achieve student learning outcomes may include, but are not limited to:

  • Presentation of lectures and discussions on the structure of property and liability insurance products and their applicability to specific coverage needs, in order for students to understand how the various products can be best applied to those needs.
  • Cooperative/collaborative learning tasks and activities designed to assist students in better understanding effective property and liability insurance needs development of customers and how to integrate various products to best meet those needs.
  • Case studies involving typical needs for property and liability insurance coverage, regulations governing property and liability coverage and the underwriting and claims procedures for property and liability insurance.  Case studies will be designed to allow students to apply what they have learned to the creation of comprehensive, effective coverage recommendations and proposals that fall within the applicable regulations.
  • Guest speakers to allow students to interact with property and liability insurance and financial planning professionals.
 
METHODS OF EVALUATION
 Students will be evaluated for progress in and/or mastery of learning outcomes by methods of evaluation which may include, but are not limited to:

  • The writing of case study analyses demonstrating an understanding of property and liability insurance products and their applicability to specific coverage needs situations.
  • Individual and group assignments designed to demonstrate successful understanding and application of property and liability insurance concepts.
  • Class discussions designed to evaluate students’ understanding of the need for property and liability insurance and how those needs can best be met.
  • Quizzes/examinations designed to assess students’ ability to recall, critically analyze and apply key concepts and course content.
  • Participation as required by instructor to ensure progress in mastering the course content and involvement in collaborative learning projects.
  • Individual web projects designed to assist student in determining and evaluating various career options available in the property and liability insurance industry.
ASSIGNMENTS

Required Reading Assignments


Required Writing Assignments


Other Outside-of-Class Assignments
 
COURSE MATERIALS
 All materials used in this course will be periodically reviewed to ensure that they are appropriate for college level instruction. Possible texts include:

  • Luthardt, Smith & Wiening, Property and Liability Insurance Principles, 3rd Ed., American Institute for Chartered Property Casualty Underwriters/Insurance Institute of America Malvern, PA

    INS 21 Course Guide: Property and Liability Insurance Principles, 3rd Ed., American Institute for Chartered Property Casualty Underwriters/Insurance Institute of America (AICPCU), Malvern, PA, http://aicpcu.org/
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