CLCS - Insurance Principals

Insurance Principles offers a brief history of insurance to illustrate the defining principles of insurance - transfer of risk, the law of large numbers, and indemnification. Insurance terms are defined in relation to risk management, insurability, and transfer of risk. In addition, this identifies and outlines types of property and casualty insurance coverage and the corresponding policies that are available for each.

This session also examines types of insuring entities and describes the role each plays. It inspects the insurance contract including its characteristics and elements, and explains how to analyze policy content. It also examines the relationship between agent and insurer, the structure of insurance distribution systems, and insurance company operations and regulation.