Principles of Insurance Course

All insurance policies are defined by the seven basic principles of insurance. These key principles govern the rights and obligations of both the insured and the insurer.

Having an understanding of these principles and the UK legislation which has impacted them in recent years is vital in the insurance business.

Our Principles for Insurance course will help your employees understand the fundamental principles that underpin the insurance business, such as good faith and indemnity.

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 Principles of Insurance

About this Course

Available as part of our Insurance Library.

Learning Objectives

This course will prepare your employees to:

  • Identify the key principles of insurance
  • Apply the principles in your day-to-day work
  • Recognise how the recent legislation has impacted the principles

Course outline

Welcome

Principles of insurance

- The seven basic principles of insurance

Principle of good faith

Duty of disclosure

Consequences of non-disclosure

- Exercise: What's the consequence?

Insurable interest

- Insured interest - examples
- Exercise: Is it an insurable interest?

Proximate cause

- Exercise: What's the proximate cause?

Indemnity

- Exercise: How to adjust claims for overvaluation
- Exercise: Application of indemnity

Subrogation

- Exercise: Subrogation

Contribution

- Exercise: Contribution

Loss minimisation

CIDRA 2012 & the Insurance Act 2015

Summary

Affirmation

Assessment

Course Specifications

Structure

Structure

Approximately 30-minute long e-learning course followed by a 10-question assessment.

Audience

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Tailoring

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

FCA Courses Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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FCA Courses Library