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Insurance Broking Product Knowledge

PIQIB3
Price:
$590.00 +GST Non-member
$540.00 +GST Learning Partner
$491.00 +GST IBANZ Member

More suitable for commercial brokers this module provides general product information about the most common commercial insurance polocies.

Consists of 6 short on line courses covers the nuts and bolts of material damage, business interruption and several liability covers including professional indemnity.

Allow 150 days for completion of these online short courses. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.

Enrolment required                              Enrolment InfoDistance Learning

Learning Units Included

Material Damage Insurance

TSC4

This practical course has been prepared to help students understand how Material Damage Insurance (Business Assets Insurance) works and how brokers can evaluate the different insurance contracts on offer against the actual needs of their clients.

This module includes the following topics:

  • An overview of the policy structure
  • An explanation of how material damage insurance works, and
  • An explanation of standard exclusions, extension and special conditions.

 

Objectives
  • Identify needs of a client, and recommend appropriate material damage cover
  • Identify the parts of a material damage policy.


Business Interruption

TSC1

Business Interruption (BI) Insurance is vital for most businesses.  The aim of this module is to ensure students are able to discuss BI Insurance with clients and recommend, with confidence, coverage suitable for those clients.

This module includes the following topics:

  • An overview of the policy structure
  • An explanation of how business interruption insurance works, and
  • An explanation of standard exclusions, extension and special conditions.

 

Objectives
  • Understand how a business interruption policy works
  • Explain how various policy components operate
  • Gain an overview of business interruption policy structure


Professional Indemnity

TSL5

Sometimes known as Professional Risk Liability Insurance, Professional Indemnity (PI) Insurance is offered to protect business people who receive payment for providing advice or performing a service against a claim made by someone who feels that business person has not lived up to their professional obligations.  

The aim of the Professional Indemnity Module is to enable students to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients.

This module includes the following topics:

  • Overview of professional indemnity insurance,
  • Coverage and limitations of a professional indemnity 
  • Insurance contract,
  • Policy exclusions, conditions and exclusions,
  • Meeting clients’ needs, and
  •  Professional indemnity claim examples.

 

Objectives
  • Recommend appropriate professional indemnity cover to clients
  • Discuss prudent measures to reduce professional indemnity risk.


General Liability

TSL6

General Liability is an important cover for most businesses because it covers them against risks relating to their general business operation.

The aim of the General Liability module is to enable students to be able to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients. IBANZ's General Liability module will refresh the experienced, and instruct the newcomer, about this aspect of liability insurance.

This module includes the following topics:

  • The different types of general liability insurance
  • Indemnity clause and relevant definitions of words and terms
  • Standard policy exclusions
  • Policy conditions that are relevant to liability insurance
  • Common optional extensions and memoranda that may be available or be applied, and
  • Common automatic coverage extensions.

 

Objectives
  • Learn aspects of the General liability cover
  • Be able to make recommendations about liability covers to clients based on their needs.


Statutory Liability

TSL3

Statutory Liability is an important cover for most businesses because it protects them against financial losses that may arise as a consequence of an unintentional breach of an Act or regulation.


The aim of IBANZ College's Statutory Liability Module is to enable students to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients.

This Statutory Liability module will refresh the experienced, and instruct the newcomer in this aspect of liability insurance.

This module covers the following topics:
  •  Overview of Statutory Liability Insurance 
  •  Coverage and limitations of statutory liability insurance contract 
  •  Policy exclusions 
  •  Policy conditions 
  •  Policy extensions 
  •  Meeting clients' needs 
  •  Statutory liability claim examples 

 

Objectives
  • Discuss the implications of client actions on various statues covered by Statutory liability covers.
  • Recommend suitable coverage for clients
  • Discuss what Statutory Liability insurance is with clients


Commercial Motor Insurance

TSC2

The Commercial Motor Vehicle (CMV) Insurance module will enable students to:

  • Evaluate CMV insurance policy wordings
  • Discuss CMV Insurance with clients, and
  • Recommend coverage suitable for specific client needs.

The course material includes an in-depth look at the structure and workings of a CMV insurance policy including:

  • Policy schedules
  • Extensions, exclusions and conditions
  • Settling a claim, and
  • Premium options

 

Objectives
  • Gain an understanding of the structure of a commercial motor vehicle policy
  • Learn how to identify commercial motor vehicle policy needs and make recommendations


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