Course Title: Introduction To Insurance With Code and Ethics
Total Instructional Hours (usually 18 per unit): 36
Hours per week (full semester equivalent) in
Lecture:
2.00 In-Class Lab: 0
Date Submitted:
Date Updated:
Transferability:
May 2011
October 2014
Transfers to CSU
Does NOT satisfy any area of IGETC: IGETC Area:
CSU GE Area:
SMC GE Area:
Does NOT satisfy any area of CSU GE:
Does NOT satisfy any area of SMC GE:
Units: 2.00
Arranged:
Degree Applicability:
Prerequisite(s):
Pre/Corequisite(s):
Corequisite(s):
Credit - Degree Applicable
None
None
None
None Skills Advisory(s):
I. Catalog Description
The purpose of this course is to introduce students to the basic overview of the property/casual insurance system. It is designed for those students who have little or no knowledge of insurance. In addition, this course will enable students to understand and apply the proper ethical behavior and obligations related to the insurance field.
II.
Examples of Appropriate Text or Other Required Reading: (include all publication dates; for transferable courses at least one text should have been published within the last five years)
1.
Introduction to Property/Casualty Insurance , 2nd, Lo Flitner, Arthur,
American Institute for Charted Property Casualty Underwriters/Insurance
Institute of America © 2011, ISBN: 978-0-89463-466-6
2.
Code of Professional Ethics of the American Institute for Chartered Property
Casualty Underwriters, 7th, American Institute for Chartered Property Casualty
Underwriters, - © 2005
3.
Microsoft Word. Microsoft, 2013 ed.
4.
Adobe Reader
III. Course Objectives
Upon completion of this course, the student will be able to:
1.
Explain the history of insurance, define terminology such as stock, mutual, direct writing insurance companies, admitted, non-admitted companies; in addition, agent vs. broker, and the benefits of the insurance industry.
2.
Describe, illustrate, and explain the following concepts: principles of indemnity, valued policy, liability limits (split and single BI/PD), loss ratios, occurrence liability form, risk peril, risk management, etc.

IV.
V.
3.
Describe basic Insurance Service Office (ISO) insurance forms for Commercial
Property, Commercial General Liability, Commercial Auto, Homeowners,
Personal Auto Policy, Crime, Umbrella Insurance Contracts, etc.
4.
Explain and illustrate the civil law system and how insurance liability contracts protect families and organizations from Civil Law risks and negligence, intentional acts, strict liability, and contracts.
5.
Explain ethical behavior as it relates to the insurance industry and discuss implications and obligations of agency/agents
6.
Illustrate examples of professional behavior and compare ethical behavior among several corporations.
7.
Explain agent and types of agent authority.
8.
Describe the responsibilities and ethical obligations of an insurance employee.
9.
Define ethics in a general business context and in insurance organizations.
10.
Describe the legal framework of insurance organizations and explain the state and federal role in insurance regulation.
Methods of Presentation:
Projects , Group Work , Lecture and Discussion , Other (Specify)
Other Methods: Classroom lecture, discussion of the insurance concepts, and application of theory. There will be group discussions during class to familiarize the student with the insurance program and codes and ethics required on this field. Weekly homework assignments and weekly exams will provided to ensure the understanding of the insurance concepts and applications which were learned during class.
Course Content
% of course Topic
10% Property/Casualty Distribution System
5% Reinsurance: Creating an Insurance Company
5% Valuations
10% Civil Law
5% ISO Insurance Contracts
5% Personal Lines Contracts
5% Risk Management and Business
5% Other Insurance Contract and Summary Comments
10% Definition of Ethics
10% The Law of Ethics
10% Insurance Agents
10% Ethical Principles
10% Professionalism in Insurance
100% Total

VI. Methods of Evaluation: (Actual point distribution will vary from instructor to instructor but approximate values are shown.)
Percentage Evaluation Method
30 % Exams/Tests
10 % Quizzes
15 % Projects
15 % Final exam
30 % Written assignments
100 % Total
Additional Assessment Information:
Grade Scale
A = 90 – 100%
B = 80 – 89%
C = 70 – 79%
D = 60 – 69%
F = Below 60%
VII. Sample Assignments:
Assignment 1: Describe the key features of each of the following:
1.
Stock insurer
2.
Mutual insurer
3.
Reciprocal insurance exchange
4.
Lloyds
5.
Captive insurer
6.
Reinsurer
Assignment #2: Case Study: An insured had an automobile accident on January 13, which he reported to his insurance agent three days later. Because several people were injured, the insurer, XYZ Insurance Company, established an initial loss reserve of $200.000. Explain what a loss reserve is and why XYZ established a reserve for this particular claim.
VIII. Student Learning Outcomes
1.
Given sample an individual or business profile, explain and illustrate how insurance liability contracts protect families and organizations from Civil Law risks and negligence, intentional acts, strict liability, and contracts.

2.
Given a family profile, recommend appropriate life insurance coverage.
3.
Define insurance terminology and concepts as well as define codes of ethics in a general business context and in insurance organizations.
4.
Demonstrate a level of engagement in the subject matter that reveals their understanding of the value of the course content beyond the task itself, specifically as it relates to linking the relevance of course content to careers in business and their personal lives.