This is a complete course of study providing education and training to allow the student to recognize the importance of the application for insurance and the hazards faced by an applicant – whether a small or large corporation – who submits an application that is not totally and completely true. The law of equity from before the foundation of the United States allows an insurer to declare a policy void from its inception if it was deceived by the insured into obtaining the policy of insurance.

The Course covers the following:

  1. The use of an insurance application to obtain an offer from an insurer to provide liability insurance protection to the applicant.
  2. The means by which an insurance application is submitted to insurers.
  3. The importance of absolute truth in the application.
  4. The investigation needed to determine if an insurer was deceived by an application.
  5. The evidence necessary for an insurer to declare a policy void.
  6. The evidence necessary for an insurer to rescind a policy from its inception.
Learning Objectives
  • Explore insurance applications for third party liability insurance to resolve disputes concerning misrepresentation, concealment, mistake or fraud in the application for insurance.
  • Explore how to fill out the required information in an application for liability insurance.
  • Explore the necessity to answer each question on the application completely.
  • Identify every fact that is material to an insurer’s decision to insure or not insure.
  • Identify the information relied upon by the insurer.
  • Identify what is needed to provide sufficient information to convince an insurer to offer to insure.
  • Recognize the fact that insurers do not investigate an applicant’s qualification for insurance.
  • Identify how insurance companies react to information that deceives it about the risk presented by the application.
  • Discover what the corporation must do to obtain an offer of insurance.
  • Recognize when an insurer needs counsel to advise about misrepresentations.
  • Recognize the importance of complete and thorough answers to questions on an application for insurance.
Last updated/reviewed: August 13, 2023

Included In Certifications

This course is included in the following Certification Programs:

15 CoursesCorporate Liability Insurance Certification

  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 Basics of 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
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 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Course 3: The Necessity for an Honest and Complete Application for Insurance6:48
  Liability Insurance Application9:25
  The Hazard of a False Statement on an Application10:28
  The Hazard of a False Statement on an Application Cont'd9:13
  Void By Contract Terms12:28
  Investigation Required to Determine False Representations in an Application for Liability Insurance11:17
  Conclusion1:33
CONTINUOUS PLAY
  Course 3: The Necessity For The An Honest And Complete Application For Insurance 1:01:15
SUPPORTING MATERIALS
  Slides: The Necessity For The An Honest And Complete Application For InsurancePDF
  The Necessity For The An Honest And Complete Application For Insurance Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam