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Course · AL
Insurance II
Career and Technical Education, Alabama State Department of Education (ALSDE)
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Insurance II introduces students to the process of underwriting claims, sorting applications on behalf of clients who present similar levels of risk, and determining whether to accept, deny, or limit coverage for each group of applicants. Students will also develop knowledge and skills related to commercial insurance, including property, liability, risk management, and workers’ compensation.
Analyze the risk posed by potential clients in order to make insurance approval/denial decisions and set policy pricesSummarize the different types of commercial liability exposureExplain the coverages of commercial liability insurance, including Coverage A (bodily injury and property damage)Explain the factors used in rating the general liability of the businessResearch and share information on procedures an insurance agent follows to file a commercial property claimDescribe the legal contract obligation of an insurance policyIdentify the basic principles of risk managementInvestigate, interpret, and share information on the benefits of protection for a company’s principalsBuild a commercial insurance plan for a selected businessInterpret provisions of insurance contractsDevelop a compliance program to protect a company’s financial well-beingExplain the purpose of commercial property insuranceList the advantages and disadvantages of purchasing property insurance to protect company assets from loss due to fireDemonstrate ways an insurance agent helps a business protect its financial well-beingDescribe the factors used in rating the value of business property, including building construction and usage, sizeExplain the purpose of workers’ compensation insurance and its benefits for policyholdersEvaluate information acquired from claimants to simulate the process of settling insurance claimsUtilize information technology tools to simulate the underwriting of an insurance policyPrepare documentation to support insurance underwritingAssess information provided by the client to determine insurance needsInterpret the sections of the declaration page on policiesManage agency accounts to protect the insurance company's financial well-beingOutline the steps to process a claim to fulfill the company's legal obligation to the clientDemonstrate professional ethical behavior and meet legal responsibilitiesExplain the implications of unethical insurance practices in risk management and commercial insuranceAnalyze careers in insurance to determine which roles and responsibilities best match personal interestsAcquire and share knowledge of the insurance industry to obtain a foundation for employment in insuranceResearch regulatory requirements for insurance companies in AlabamaExplain federally-mandated health insurance requirements and restrictionsExplain the role of supervisory and regulatory bodies in the insurance industry