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Duration: 1.5 Hours
Level: Intermediate
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This is a complete course of study providing education and training to enable the student to learn how insurance claims are controlled by the unwritten implied covenant of good faith and fair dealing. It will explain how the covenant, first described in 1766, changed from a contract interpretation mantra into a tort allowing for tort damages to be assessed against an insurer who breaches the covenant of good faith and fair dealing. It is the purpose of liability insurance to protect those people and entities insured against claims they were damaged by the insured’s tortious conduct and they must be resolved fairly and in good faith.  

The Course covers the following:

  1. An explanation of the covenant of good faith and fair dealing before it became a tort.

  2. Why the tort of bad faith was created.

  3. A detailed explanation of the liability insurance policy and how it was designed to provide protection to people.

  4. What liability insurance is.

  5. The statement of the covenant in 1766.

  6. The principle of utmost good faith.

  7. The parts of the liability insurance policy.

  8. Development of the tort of bad faith.

  9. Duties of Persons insured by a liability policy.

  10. Adjusting a liability claim in good faith.

  11. How to avoid claims of bad faith.

 

Learning Objectives

  • Identify what liability insurance is.
  • Explore how liability insurers can act to treat the insured with utmost good faith.
  • Identify the various means by which an insured can breach the covenant of good faith and fair dealing.
  • Identify the various means by which an insurer can breach the covenant of good faith and fair dealing.
  • Discover that the tort of bad faith was created to deter insurers from treating insureds unfairly.
  • Discover that the insurance professional is an expert in treating an insured with good faith.
  • Explore, by review of cases that created the tort, why there is a tort of bad faith.
  • Explore why both parties to the contract of insurance must treat the other in good faith and do nothing that will deprive the other of the benefits of the policy of insurance.

Prerequisites

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  6:26Introduction to Course 7: The Covenant of Good Faith and Fair Dealing
  15:05Liability Insurance
  11:41What is Liability Insurance
  12:19What is Liability Insurance Continued
  10:24Development of the Tort of Bad Faith
  14:06Duties of Persons Insured by a Liability Policy
  12:27Duties of Persons Insured by a Liability Policy Continued
  2:17Avoiding Bad Faith Claims
CONTINUOUS PLAY
  1:24:45Course 7 - The Covenant of Good Faith and Fair Dealing
SUPPORTING MATERIALS
  PDFSlides: The Covenant of Good Faith and Fair Dealing
  PDFThe Covenant of Good Faith and Fair Dealing Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM