Description
This on-line live webinar introduces delegates to the US Insurance Market landscape. We take a look at US classes of insurance business, the structure of the insurance market and the role of related third parties and intermediaries and the major differences between other world insurance markets. We then take a look at typical policy language and basic principles and types of Life policies, claims handling and the regulatory framework. The course also includes a glossary of terms, which delegates can refer to post course.
What you will learn
Course Objectives
- At the end of the webinar delegates will be able to:
- Describe the US insurance market and how it differs from other world insurance markets
- Explain the roles of US based agents, intermediaries, Market Associations and groups
- Outline typical property and casualty policy language
- Understand the basic principles and types of US based Life Insurance
- Explain the way in which US based claims are investigated and the process of settlement
- Explain the Legal and Regulatory framework
Course contents
- Classes of business
- Property and casualty
- Personal v commercial
- Life, accident and sickness
- US Insurance Market:
- Statistics
- Insurers (including roles within an insurance office)
- Reinsurers
- Agents and intermediaries
- Market associations and groups
- Major differences between other world insurance markets
- Property and Casualty policy language
- Schedule
- Standard forms
- Standard exclusions
- Limits and aggregate limits
- Occurrence versus claims made
- Sanctions and financial crime
- Life Insurance
- Basic principles and types of policy
- Claims: Handling, investigation and settlement process
- Main players in the claims field
- Coverage and liability disputes: Reservation of rights
- Common terms and procedures
- Catastrophic losses
- Legal and Regulatory: State and Federal
- Admitted and surplus lines
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