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Many insurance and risk management professionals receive little or no training prior to entering the insurance industry. Most professional designation programs do a good job of training on technical insurance coverage. Unlike those who specialize in doing in-depth analysis of insurance policies, the typical insurance professional is more focused on the selling or servicing aspect of the industry. Little training is done to help seasoned professionals be more adept at policy analysis and comparison. As a result, coverage denials, missed opportunities, damage to professional reputations, lost clients, bad faith, and E&O claims result that could have otherwise been avoided.
This course is designed to guide experienced professionals step by step through the process of reading policy language, applying a basic coverage analysis to look for possible gaps in coverage, and understanding advanced coverage issues. It will explain what to look for in terms of wording, punctuation, and formatting, including negative and positive implications of specific wording. In addition, the course will address E&O loss control issues and help the agency look at ways to obtain and retain business.
Upon completion of this course, you should be able to:
*understand important contract features in general as well as those specific to insurance policies and how they may or may not affect coverage;
*know the general sections of a policy, their purpose, how they can be modified, and the importance of each;
*understand how the sections of a policy interact and explain how they work together to determine coverage;
*explain the importance of each area of special interest and how they can affect coverage;
Course #220494 | 3 OGI | Instructor: Vince Sorgi