Course Overview
This course lays the foundation for all types of property insurance, and then discusses the perils, clauses, and limitations in the most common personal lines policies. Coverage begins with the Basic Fire Policy. Then students learn how other policies developed, with unique perils, clauses, and limitations, to suit changing needs.
Prerequisite(s)
Credits
4.0
- Not offered this term
- This course is not offered this term. Notify me to receive email notifications when the course opens for registration next term.
Learning Outcomes
Upon successful completion, the student will be able to:
- Explain how provincial legislation regulates the perils to which fire insurance provisions apply.
- Explain how the terms of the basic fire policy comply with provincial insurance acts concerning the coverage granted automatically under the policy; protection for payees; and the requirements for policies containing deductible, coinsurance, and other limiting clauses.
- Describe the underwriting principles underlying the inclusion of additional perils, focusing on:
- Approaches to determining indemnity,
- The mortgage clause; extensions of coverage,
- Deductibles, and coinsurance.
- Evaluate common residential policies and endorsements to these policies regarding the interests covered, the perils insured, and the limitations and exclusions.
- Analyze multiple perils using standard industry procedures.
- Describe industry process for rating, and the terms needed for additional perils such as theft, transportation, and all risks.
Effective as of Fall 2008
Related Programs
Property Insurance (RMGT 3210) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs eligible for students to apply for Post-graduation Work Permit (PGWP).
School of Business + Media
- General Insurance and Risk Management
Diploma Full-time
Programs and courses are subject to change without notice. Find out more about BCIT course cancellations.