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This is a complete course of study providing education and training which allows the student, after completing the second presentation, to understand how liability insurance policies come into existence, how they are acquired, and how to read and understand the Commercial General Liability Insurance policy and the Commercial Automobile Insurance policy.

The presentation is the second in the program to become certified as an Expert in Corporate Liability Insurance.  The course covers everything a person in business needs to understand a critically important aspect of managing the risk faced by a business: how to use insurance to transfer risk to an insurance company; how to work with a commercial liability insurance expert to deal with risks of loss; and, when a claim is made or suit is filed against the company, how to deal with that risk. After completion of this second course, users are able to obtain, read, and understand a liability insurance policy before it is necessary to ask the insurer to defend or indemnify the insured.

This course covers the following:

  1. How a commercial liability policy comes into effect.
  2. How to read and understand a third-party liability insurance policy.
  3. How to understand that an insurance policy is a contract.
  4. Why a company needs a commercial liability insurance policy.
  5. The purpose of the application for insurance.
  6. The offers made by insurers to prospective insureds.
  7. The acceptance of an offer of insurance or a counter offer.
  8. The importance of paying the premium – consideration – to effect the insurance policy.
  9. The need and ability to understand an Insurance Contract.
  10. The Third-Party Liability Insurance policy.
  11. The Commercial Liability Insurance policy.
  12. The Commercial Auto Liability policy.

Learning Objectives

  • Explore the importance of the acquisition of a commercial liability insurance contract.
  • Identify the rules of insurance contract interpretation set by the courts.
  • Explore how liability insurance is acquired.
  • Explore how to read and understand a liability insurance policy.
  • Explore the methods used to interpret a commercial liability insurance policy.

Included In Certifications

This course is included in the following Expert Certifications:

15 CoursesCertified Expert in Corporate Liability Insurance

  1. Corporate Liability Insurance: Excellence in Claims Handling
  2. How to Acquire a Policy of Third Party Liability Insurance
  3. How to Read and Understand a Liability Insurance Policy
  4. The Necessity For An Honest And Complete Application For Insurance
  5. The Law of Contracts for the Insurance Professional
  6. The Law of Torts
  7. Ethics for the Corporate Liability Insurance Professional
  8. The Covenant of Good Faith and Fair Dealing
  9. Interviewing Techniques For The Corporate Liability Insurance Professional
  10. Corporate Liability Insurance Fraud Prevention
  11. Corporate Liability Insurance: Rescission - An Equitable Remedy
  12. The Duties Of An Insured Presenting A Third Party Bodily Injury and Property Damage Claim
  13. The Statement And the Investigation of Third Party Liability Insurance Claim
  14. Compliance with Good Faith Settlement Practices Regulations
  15. Corporate Liability Insurance: Millions For Defense Not A Dime For Tribute

1 Review (4 ratings)Reviews

4
Anonymous Author
great course

Prerequisites

Course Complexity: Intermediate

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
  9:01Introduction to Course 2: How to Read & Understand a Liability Insurance Policy
  10:52The Application
  4:21The Acceptance and Consideration
  13:46The Insurance Contract
  21:04The Third Party Liability Insurance Policy
  17:59Reading the Policy
  2:48Conclusion
CONTINUOUS PLAY
  1:19:50Course 2: How to Read & Understand a Liability Insurance Policy
SUPPORTING MATERIALS
  PDFSlides: How to Read & Understand a Liability Insurance policy
  PDFHow to Read & Understand a Liability Insurance policy Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM