Insurance Principles and Claims Administration

Insurance fills a wide range of roles as a financial institution that transfers the costs of losses. To effectively service the insurance needs of your clients and employees, you need a thorough grounding in the principles of insurance - what it is and how it works. After completing the Insurance Principles courses, you´ll have a basic understanding of the many different aspects of insurance to better serve your clients and employees. By the end of this workshop, participants will be able to:

• Insurance and the law; insurance contracts and their components, the benefits of insurance.
• Understand claims handling procedures and related claims services.
• Undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium

Content

Introduction of Insurance

• Insurance Overview
• Insurance and the Law
• Insurance Contracts and their Components
• Benefits of Insurance

Types of Insurance and Coverage

• Insurance Categories and Functions
• General Insurance
• Marine Insurance
• Motors and Accidents Insurance

Claims Consideration and Administration.

• General Principles in the Claims Handling
• Claims Handling Procedures
• Claims Settlement
• Good-Faith Claim Handling
• Framework for Coverage Analysis

Insurance Documents and Processes

• Overview of Underwriting
• Underwriting and Rating
• Setting Insurance Rates
• Claims Documents

Insurance Fraud

• Investigation of Cause of Loss, Liability and Damages
• Special Considerations for Catastrophe Claims
• Managing Insurance Frauds
• Signs of Insurance Fraud

Risk and Insurance

• Risk Management
• Liability Loss Exposures and Insurance
• Property Loss Exposures and Insurance
• Methods of Identifying Loss Exposures

Insurance Regulations

• Ethics and Professionalism
• Negotiation
• Managing Litigation
• What is Premium?

FOR WHOM: Human Resources Managers, Directors, Supervisors, Line Managers, Union/ Team Leaders, Auditors, Accountants, All Employees and Others who perform related functions or who want to update their knowledge in Insurance Principles and Claims Administration