10162125 Commercial Insurance (AAI 82)
Course Information
Description
This course provides an understanding of the insurance protection any business should have. Whether you plan on owning your own business or managing a business or department, this course provides valuable information. A comprehensive study of policy language and coverage for Commercial General Liability, Commercial Auto, Worker's Compensation, Crime, Bonds, Umbrella, the BOP and Commercial Property is reviewed.
Total Credits
3
Course Competencies
  1. Evaluate liability exposures and identify which can be covered by a general liability and professional liability policies.
    Assessment Strategies
    by collaborating on hypothetical cases to evaluate and locate the exposures to loss.
    by answering a set of questions in Blackboard.
    by collaborating with other students on real professional liability exposures to determine the professions at risk, the coverage available and communicating their findings to other students.
    Criteria
    explain liability exposures.
    list the main components of a general liability policy.
    define terms specifically associated with the general liability policy.
    identify various professional liability exposures businesses face and the types of policies available to protect them.

  2. Evaluate the differences between claims made and occurrence forms.
    Assessment Strategies
    by answering a set of questions in Blackboard.
    by reviewing hypothetical claims situations and determining coverage and amount paid.
    Criteria
    explain the difference between claims made and occurrence on a general liability or professional liability form.
    respond to hypothetical situations and decide which policy would provide coverage.
    response to hypothetical situation meets instructor guidelines.

  3. Analyze business auto exposures and commercial auto policies.
    Assessment Strategies
    by answering questions in Blackboard
    by collaborating with other students on case studies
    Criteria
    define the terminology used, including symbols, for a Commercial Auto Policy.
    evaluate the factors necessary to determine acceptability of risk and base for determine premiums.
    identify the information necessary to underwrite and price a risk.

  4. Evaluate a garage risk policy and coverages needed.
    Assessment Strategies
    by asking questions and explaining information on the policies to others.
    by answering a set of questions in Blackboard.
    Criteria
    your reflection presents insight into the garage and motor carrier coverage.
    explain the key terminology involved in a garage insurance policy.

  5. Identify the various crime exposures and recommendations for coverage.
    Assessment Strategies
    by evaluating a hypothetical business exposure.
    by orally communicating the findings to other students.
    Criteria
    explain the crime exposures and how to properly protect the business from these types of losses.
    explain the exposures to crime, risk factors, coverages and the premium base.
    you verbally communicate exposures to others.

  6. Evaluate a small business risk and the coverage provided by a business owner's policies.
    Assessment Strategies
    by collaborating and reviewing case studies
    by verbally communicating.
    reflection
    Criteria
    identify some of the key exposures to loss for small business risks.
    reflection shows an understanding of the coverages found within the Businessowners' Policy and the types of business that qualify.
    determine coverage needs and policy protection under the Businessowners' Policy.
    you verbally communicate the findings

  7. Analyze other types of coverages available to business owners including boiler and machinery, directors and officers, flood, environmental liability and life.
    Assessment Strategies
    by working collaboratively with other students.
    verbally presenting the group's individual findings to other students
    Criteria
    review cases.
    evaluate a particular business risk, identify the exposures to loss, and make proper recommendations for coverage.
    verbally explain the coverage recommendations to others.
    explain the reasoning for the recommendations.

  8. Identify the coverages provided by workers compensation and employers liability.
    Assessment Strategies
    by verbally communicating opinions and findings to others.
    Written product - reflection
    Criteria
    evaluate a worker's compensation loss.
    identify the areas of compensation paid.
    reflection incorporates key terms, concepts, and coverages of workers compensation.
    describe how premiums are developed.
    reach a solution on the loss.

  9. Evaluate the unique property coverage needs of businesses that are not covered by standard forms.
    Assessment Strategies
    by verbally communicating
    Criteria
    identify the coverages provided by non-standard commercial insurance.

  10. Describe the coverages and the exposures protected by the excess and umbrella liability policies.
    Assessment Strategies
    by verbally communicating
    Criteria
    identify how the excess coverage and umbrella coverage applies to a loss with and without underlying coverage.

  11. Identify the prospects that need ocean cargo and the information required to underwrite the risk.
    Assessment Strategies
    by verbally communicating
    Criteria
    describe the coverages provided and the risks involved in ocean cargo.
    explain the key information in the risk.

  12. Describe the various types of bonds available and the coverages provided.
    Assessment Strategies
    by verbally communicating
    Criteria
    describe the various types of exposures that need bonds and the bonds available.

  13. Explain the differences between insurance and bonds.
    Assessment Strategies
    by verbally communicating
    by submitting an experience summary to the instructor.
    Exam.
    Criteria
    incorporate terminology used in commercial insurance.
    describe coverages used in commercial insurance.
    differentiate between insurance policies and bonds.
    your summary meets instructor guidelines