How to Read & Understand a Corporate Insurance Policy

This course offers an in-depth explanation of how to read and understand an insurance policy.

Ratings 4.60 / 5.00

How to Read & Understand a Corporate Insurance Policy

What You Will Learn!

Explore the steps necessary to interpret insurance policies.
Explore how insurance is interpreted by courts.
Explore how to deal with the elements of a contract: offer, acceptance and consideration.
Identify the need to complete a thorough, honest, and complete application and understand how the application is used by the insurer.
Identify the need to read and understand the policy after it is delivered.
Recognize the need to read a policy after it is delivered to ascertain it provides the coverages ordered by the applicant.

Description

Insurance is a contract, and the insurance contract is a special type of contract. The course covers what an employee, officer, or director of a corporation needs to know to be able to read and understand an insurance policy in order to establish that it provides the insurance protection needed.

The course covers the following:

That insurance is a contract and how to understand the basic rules of interpretation of contracts.
The application for insurance and how it is used by the applicant and the insurer.
The need for offer, acceptance, and consideration to form an insurance contract.
How to read and understand the insurance contract.
The first party property insurance contract and how it is formed and made effective.
The importance of conditions and limitations in a first party property policy.
The rules of insurance contract interpretation.
The "contra preferentum" rule.
The standard fire policy.
The auto material damage policy.