A complete course of study providing education and training to allow the student, to learn how to deal with the equitable remedy of rescission as a method to defeat insurance fraud or policies acquired innocently by fraud, misrepresentation, concealment or mistake. The course reviews the law of rescissions, the elements of the equitable remedy, and how to declare a policy void.
This twelfth course in the series provides a representative of an insured sufficient knowledge to avoid misrepresentation, concealment, fraud or mistake in acquiring a policy to avoid rescission by the insurer. The insurer’s representative learns everything that is required of an insured to assist an insurer in its investigation, defense and defeat of insurance fraud or policies of insurance obtained by deceit.
The Course covers the following:
An explanation of the equitable remedy of rescission.
How rescission can be used as a means to defeat insurance fraud.
The historical basis of the equitable remedy of rescission.
The elements required to prove it is appropriate to rescind a policy of insurance.
What an insurer must prove to rescind a policy of insurance.
How to detect the difference between a true and false representation.
How to determine that a misrepresentation or concealment is material.
What must be done to rescind a policy of insurance.
A review of particular court decisions that resulted in an effective rescission.
A discussion of claims of post loss underwriting and why it is an oxymoron.
What an insurer must do before electing to rescind a policy of insurance. Prerequisites:
The first eleven courses of the Certified Expert in Corporate Liability Insurance program are prerequisites and it would be helpful to complete the Certified Expert in Corporate Property Insurance Program.