Class 2: Short-Term Personal Lines

R575.00

Category:

Description

COURSE DESCRIPTION

  • Learners have access to their course material for 180 days from date of enrolment , thus are able to complete their study preperation at their lesure. (Self-Paced) 
  • Online assessment (2 multiple choice exam attempts included.)

NQF Level 3 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 3 is equivalent to Grade 11 or Standard 9, and is often a stepping stone to NQF 4 and beyond.

NQF Level 4 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 4 is equivalent to Grade 12 or Standard 10 (Matric), and is a FET – Further Education and Training – category qualification.

NQF Level 5 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 5 is a National Certificate or National Diploma and is a HET – Higher Education and Training – category qualification

NQF Level 6 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 6 is a Bachelors Degree or Higher Diplomaand is a HET – Higher Education and Training – category qualification.

COURSE CONTENTS

1.1   Personal lines: Accident and health policy

  • Describe personal accident insurance;
  • Provide the definition of an accident;
  • Provide the description of personal accident cover;
  • Explain all risks;
  • Describe personal accident policy excesses and exclusions;
  • Describe health insurance;
  • Explain the hospital cash benefit sum insured and premium.

1.2   Personal lines: Liability policy

  • Describe personal liability insurance;
  • Explain personal liability;
  • Explain personal liability ‘limit of indemnity’;
  • Explain employer’s liability;
  • Explain public liability;
  • Explain product liability;
  • Explain professional indemnity;
  • Explain the application of reinsurance to liability risks;
  • Explain personal liability excesses and exclusions.

1.4  Personal lines: Miscellaneous policy

  • Explain and describe aviation insurance;
  • Explain and describe employee’s insurance;
  • Explain and describe goods in transit insurance;
  • Explain and describe engineering insurance;
  • Explain and describe marine insurance;
  • Explain and describe travel insurance;
  • Explain and describe agriculture insurance;
  • Explain and describe householders or household contents insurance.

1.5  Personal lines: Motor policy 

Subclass 1.5.1 – Explain motor insurance

  • Types of vehicles that can be insured under a personal motor policy are indicated with reference to the maximum mass and use of the vehicle.
  • A selected policy wording is analysed to determine the cover.
  • Different types of use covered by motor insurance are explained with reference to the license required for each.
  • The difference between a no claim bonus and a cash back bonus is explained with examples.
  • The effect of age and driving experience on a personal motor premium is explained with reference to discounts, loading and first amounts payable for five case studies.
  • The consequences of misrepresentation or non-disclosure on premium are explained with reference to rating area, principal driver, use of a vehicle and the place where a vehicle is kept at night.
  • The concept of territorial limits is explained with reference to the effect on the cover.
  • Two different policies are compared in terms of cover.

Subclass 1.5.2 – Explain liability with regards to personal motor insurance

  • The concept of liability is explained as it applies to motor insurance.
  • A policy document is analysed to determine the cover provided under liability insurance.
  • A policy document is analysed to determine factors that could affect the limit of indemnity and an indication is given of possible extended liability cover.

Subclass 1.6 – Property Policy

  • Explain and describe property insurance
  • Explain and describe fire insurance;
  • Explain and describe additional perils;
  • Explain and describe theft cover;
  • Explain and describe contractors all risk (CAR);
  • Explain and describe engineering insurance;
  • Explain and describe the application of reinsurance to property risks;
  • Explain and describe homeowners or buildings insurance;
  • Explain and describe determining the homeowner’s insurance premium.

Subclass 1.7 – Transportation Policy

  • Explain and discuss goods in transit insurance;
  • Explain and discuss what the insurer needs to know;
  • Explain and discuss goods in transit policy excesses and exclusions;
  • Explain and discuss regulation driving demand for goods in transit cover.

Subclass 1.8 – Short-Term Reinsurance Policy

  • Explain and describe reinsurance;
  • Explain and describe reinsurers;
  • Explain and describe legal principles;
  • Explain and describe insurable interest;
  • Explain and describe global reinsurers;
  • Explain and describe local versus offshore reinsurance;
  • Explain and describe the two basic methods of reinsurance;
  • Explain and describe reinsurance commission;
  • Explain and describe loss participation;
  • Explain and describe proportional reinsurance;
  • Explain and describe working excess of loss.

 

 

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