FIN06008 2016 General Insurance for Financial Services

General Details

Full Title
General Insurance for Financial Services
Transcript Title
General Insurance
Code
FIN06008
Attendance
N/A %
Subject Area
FIN - Finance
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Clodagh Caslin
Programme Membership
SG_BFINA_H08 201600 Bachelor of Business (Honours) in Finance and Investment SG_BEMBE_G07 201600 Bachelor of Business Embedded Award BB L7 in Finance and Investment SG_BEMBE_G06 201600 Higher Certificate in Business in Embedded Award BB(Hons) Finance and Investment
Description

This module will provide the student with a solid foundation in basic insurance principles,practice and products

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

 Recognise and explain the basic features and scope of the typical private motor insurance policy cover.

2.

Outline the basic features and scope of combined and package policies.

3.

Identify and outline the basic features and scope of typical policy cover of private medical insurance.

4.

Outline and apply the basic features and scope of household and of property insurance.

5.

Identify and outline the basic features and scope of pecuniary insurance.

6.

Outline the basic features and scope of liability insurance.

7.

Demonstrate an understanding of the underwriting procedures, premium calculation and renewal procecss of insurance companies.

8.

Demonstrate an understanding of policy wordings, conditions and exceptions.

9.

Discuss how to identify a valid claim and how the claims settlement process operates.

10.

Understand the principles of insurance and risk transfer

Teaching and Learning Strategies

The student will engage with the content of the module through lectures, case studies, problem based learning and the use of interactive multi media tools.

Module Assessment Strategies

Final examination only

Repeat Assessments

Repeat examination only

Indicative Syllabus

1. PRINCIPLES OF INSURANCE

  • Understand the principles of insurance and the concepts of risk transfer

2. MOTOR INSURANCE

  • Recognise and explain the basic features and scope of the typical private motor insurance policy cover.

3. PROPERTY & HOUSEHOLD INSURANCE

  • Outline and apply the basic features and scope of the typical Fire and Special Perils insurance policy cover.
  • Outline the basic features and scope of the typical ‘All Risks' insurance policy cover
  • Outline the basic features and scope of the typical Money insurance policy cover

4. COMBINED AND PACKAGE POLICIES.

  • State the purpose of combined and package insurance policies.
  • Identify, outline and apply the basic features and scope of the typical household insurance policy cover.
  • Outline and apply the basic features and scope of the typical travel insurance policy cover.
  • Outline and apply the basic features and scope of the typical commercial insurance policy cover.

5.  HEALTHCARE INSURANCE

  • Identify and outline the basic features and scope of typical policy cover of private medical insurance

6. PECUNIARY INSURANCE

  • Outline the basic features and scope of the typical legal expenses insurance policy cover.
  • Identify and outline the basic features and scope of the typical business interruption insurance policy cover

7. LIABILITY INSURANCE

  • Outline the basic features and scope of the typical employers' liability insurance policy cover.
  • Outline the basic features and scope of the typical public liability insurance policy cover
  • Outline the basic features and scope of the typical products liability insurance policy cover.
  • Recognise the basic features and scope of the typical professional indemnity liability insurance policy cover.
  • Recognise the function of Directors' and Officers' insurance.

8. UNDERWRITING PROCEDURES, PREMIUMS AND RENEWALS

  • Demonstrate the legal significance of procedures relating to quotations and proposal forms.
  • Recognise the relevance of premium payment for valid cover, demonstrate how insurance premiums are calculated and state how insurance premiums are collected and the features of the insurance premium levy.
  • Recognise and demonstrate the legal significance of general insurance procedures relating to the issue of cover notes, policies and certificates of Demonstrate the legal significance of general insurance procedures relating to renewals.

9. POLICY WORDINGS

  • List the structure, functions and contents of a policy form, including the policy schedule.
  • Recognise and describe the meaning and significance of common policy exceptions and conditions.
  • Outline and apply the use of excesses, deductibles and franchises to simple insurance claims.
  • Distinguish between warranties, conditions and representations.

10. VALID CLAIMS AND CLAIMS SETTLEMENT

  • Explain why a claim may be valid, invalid or only partially met and state the insured's duties after a loss.
  • List the documentary evidence needed in relation to claims.
  • Identify and demonstrate the functions, structure of and procedures observed by the InjuriesBoard.ie
  • State when the Motor Insurers' Bureau of Ireland (MIBI) may settle claims by victims of road accidents.
  • List the claims settlement options available to insurers.

Coursework & Assessment Breakdown

End of Semester / Year Formal Exam
100 %

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Multiple Choice Final Exam Multiple Choice 100 % End of Term 1,2,3,4,5,6,7,8,9,10
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Lecture 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Module Resources

Non ISBN Literary Resources

None

URL Resources

http://www.insuranceireland.eu/

http://www.iii.ie/

http://www.investopedia.com/

Other Resources

None

Additional Information

None