INSU07014 2022 Commercial General Insurance 1 (Theory)

Demonstrate a critical understanding of the nature of the adviser-client relationship to establish a consumer risk profile and identify their insurance needs; taking account of up-to-date knowledge of products and insurance providers.

Analyse the information gathered and develop effective solutions to meet the risks faced by the client; with required documentation; while highlighting the issues that are of particular importance to a range of commercial general insurances.

Display specialist knowledge of the scope of commercial lines insurance products available in the Irish market.

Demonstrate the step-by-step procedures involved in insurance claims.

This module is delivered with a blend of self-directed study supplemented by e-learning resources such as online lectures and webinars The teaching and learning modes will include:

Textbook

Dedicated Textbooks for each module in hard copy and downloadable format updated annually to reflect changes in legislation and regulation.  Summaries of each chapter will be provided highlighting key topic areas.

How-To Guides

A range of ‘how to’ guides including a glossary of terminology in Insurance and exam support

Synchronous and Asynchronous Lectures

Online lectures utilise lecture notes with extra reading material. Links from tutorials to textbooks for easy access and review In these sessions.

In-class discussion

The in-class discussion will be used to encourage conversation and debate and to support students to build their networks and apply their learning in their workplace.

Quitch - Gamification App
A gamification app to allow students to test their knowledge on each chapter of the textbook. 

Online Resources

Infographics, videos, and podcasts, Mock Exams and Questions

This module will be assessed 100% by final MCQ examination.  

The repeat assessment will be 100% final MCQ examination.

LO1 KNOWING THE CLIENT AND SUITABILITY

• Identify the benefits of establishing a positive relationship with a commercial client, explain the information-gathering process for commercial clients and identify the main elements of a commercial risk presentation to insurers.
• Explain the criteria used to make recommendations to commercial clients with regard to both insurance products and providers.
• Outline the scope of a statement of suitability used to detail the reasons underlying any advice or information given to the consumer regarding a commercial insurance policy.

LO2 & LO3 COMMERCIAL MOTOR INSURANCES

• Demonstrate the key elements of commercial motor policy cover, determine the appropriate underwriting information applicable to different commercial vehicle insurances, and identify the main differences between commercial and private motor insurance.
• Demonstrate situations where specific forms of commercial motor insurance may be required for different types of commercial vehicles and state the main features of these insurances.
• Outline the circumstances in which motor insurances may be fleet-rated, and the different options available in the market.
• Identify the underwriting considerations relating to light commercial vehicle cover.
• Identify the main questions that an adviser should ask a client when advising about or arranging commercial motor insurance.

LO2 & LO3 COMMERCIAL PROPERTY INSURANCES – INSURABLE VALUES AND PRESENTATION OF INFORMATION

• Identify the main types of policy that provide property damage covers and demonstrate the means of establishing accurate sums insured under property policies.
• Identify questions that encourage disclosure of the necessary material information to provide consumers with the most suitable commercial property insurance products and the main elements of a commercial property submission.

LO2 & LO3 COMMERCIAL PROPERTY INSURANCES – POLICY COVER

• Demonstrate the key elements of policy cover to determine appropriate underwriting information applicable to commercial property, glass, money, computer, goods in transit, farm and contractor’s ‘all risk’ and marine cargo insurance.

LO2 & LO3 OTHER PROPERTY-RELATED INSURANCES

• Demonstrate key elements of policy cover, and identify the key questions an adviser should ask a client when advising about business interruption insurance.
• Outline situations where fidelity guarantee, engineering insurance and cyber insurance are needed and identify the key elements of policy cover.

LO2 & LO3 COMMERCIAL LIABILITY INSURANCES

• Outline the basis of liability cover, and demonstrate the impact of different policy triggers for liability insurances.
• Demonstrate key elements of policy cover to determine appropriate underwriting information applicable to different liability insurances, and illustrate the underpinning knowledge by drafting a suitable client questionnaire for commercial liability classes.
• Outline the scope of cover provided by directors and officers liability, professional indemnity insurance and commercial legal expenses insurance.

LO4 THE CLAIMS PROCESS

• Identify the stages of the claims process and demonstrate the role of the intermediary in this process.
• Demonstrate the general insurance claims process, and explain the roles and responsibilities of all parties throughout the claim settlement process.