Principles Of Insurance.  Basis Of Insurance  All Risks  Proposal Form  Compensation  Average Clause  Need For Insurance  Car  Life  Claim.

Slides:



Advertisements
Similar presentations
Risk Valuation First, we need to identify the risks Second, we need to value the risks To do that, we need to KNOW the losses AND the probabilities with.
Advertisements

Household Insurance. Distinguish between Insurance Protection against a loss you hope will not happen. Eg. car accident. Assurance Protection against.
Insurance Personal Insurance. How insurance works PREMIUMS COMPENSATION INVESTMENTS EXPENSES INSURANCE.
CHAPTER 8 INSURANCE AND ASSURANCE. 2 R. Delaney Insurance and assurance An insurance policy is a contract between an insured person and an insurance company.
REVISION OF INSURANCE IN GROUPS OF THREE COMPETITION.
【 Emergency Telephone Numbers 】 SITUATION TEL Crimes/Traffic Accidents 110 Fire/Emergencies (Illness/Injuries) Family Doctor (Hospital/Clinic) Hospitals.
Insurance Basics Sharing the Risk.
Insurance and Managing Risk Chapter 13 Business Risks Loss of property and stock and cash caused by – Fire – Theft – Flooding, etc. Financial loss caused.
E. PLANNING AND PREPARING TO MANAGE A SMALL BUSINESS Explain methods of dealing with business risk Explain business risk.
© Annie Patton Insurance Part 3 Next Slide. © Annie Patton Aim of Lesson To learn the Principles of Insurance. Previous slide Next Slide.
Chapter © 2010 South-Western, Cengage Learning Property and Liability Insurance Property Insurance Automobile and Umbrella Insurance.
Workers’ Compensation How To Report An Employee Injury.
Business Insurance Types of Business Insurance Theft Insurance: theft of equipment and stock Fire Insurance: damage to premises, equipment and stock.
Insurance RB. Answer the questions based on the text (RB, p. 65) What kinds of information can you find in an insurance contract? What should you include.
INSURANCE DOCUMENTS There are various insurance documents used for different types of insurance, which are essential for all classes of insurance business.
Vehicle Insurance Chapter 38. Economic Risks of Owning a Car Risks – Accident Damage to yourself Damage to your vehicle Damage to others Damage to others.
© 2005 Consumer Jungle Insuring a New or Used Car.
Intensive Actuarial Training for Bulgaria January 2007 Lecture 5 – General Insurance Overview and Pricing By Michael Sze, PhD, FSA, CFA.
Questions to Consider What is the difference between Insurance and assurance? Please use an example in your answer. Explain the 5 principles of insurance?
© Annie Patton Insurance Part 1 Next Slide. © Annie Patton Aim of Lesson To introduced to the concept of insurance, associated words, insurable and non.
Many people insure their lives, home, car, boat, but not their income –Home fire – 1 out of 88 homes –Auto accident.
PFIN 4 Protecting Your Property 10 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly.
All business will insure their business against loss. This is normally a big expense for a business. It is a contract between 2 parties – the insurer.
What does an Actuary Really Do? n An Actuary’s primary job is to calculate expected Insurance Losses. n Examples: u What is the average Physical Damage.
BUYING A USED CAR CALM 20. So you are ready to buy your 1 st car? What matters to you in a vehicle?
INSURANCE FOR HOUSEHOLDS MR. KEANE. INSURANCE COMPANY LOGO QUIZ
Types of Household Insurance. Distinguish between Insurance Protection against a loss you hope will not happen. Eg. car accident. Assurance Protection.
Auto Insurance Policy Pre Test. Bodily Injury Property Damage Collision Coverage Comprehensive Coverage Uninsured Motorist Coverage This coverage provides.
Worker’s Compensation & Return to Work Program. INJURY OCCURS.
Normalization Exercise. First Normal Form Second Normal Form.
Delaware State Driver’s Education Study Guide. Section 3.
SOLVENCY II and Reinsurance General Overview The 2nd International Istanbul Insurance Conference 30 th of September 2010.
Liability coverage – covers liability and expenses when you’re at fault in an accident Bodily Injury Liability (BIL) – pays for the medical expenses of.
T EEN M ONEY M ANAGEMENT Presented by Glendale Public Library Instructor: Annette Fisher.
Disclaimer: The tips in this presentation are general in nature. Please use your discretion while following them. The author does not guarantee legal validity.
 The forecasting and evaluation of financial risks  Identification of procedures to avoid or minimize their impact. Goals: ▪ Avoid or minimize losses.
Preliminary Traffic Accident Report Date: __________________________ Time: ____________________ (AM / PM) ___________ City:_________________ State: ______.
Household & Business Insurance Mr.Poole Business Studies.
Personal Finance Section Buying Insurance Fireman’s Fund Insurance Company.
LUXURY YACHT INSURANCE John Theed Sturge Taylor & Associates Sturge International Services 31 st May 2012.
Risk Management and Insurance: Auto Insurance. Auto Insurance Required by law in New Jersey.
FIRST REPORTS OF INJURY MAKING THEM WORK FOR YOU.
Lesson Three: Insuring a New or Used Car. Auto Insurance Based on Risk & Loss Why do you need it? –To financially protect yourself, others, and your car.
Questions to Consider What is the difference between Insurance and assurance? Please use an example in your answer. Explain the 5 principles of insurance?
Risk Management 101.
Click here to advance to the next slide.
CHAPTER 21 INSURANCE 2011 Thomson Reuters Legal & Regulatory Ltd. All Rights Reserved. PowerPoint slides to accompany A Guide to Business Law, 19th.
PFIN 10 Protecting Your Property 5 BILLINGSLEY/ GITMAN/ JOEHNK/
Car Insurance.
INSURANCE LAW.
Workers’ Compensation Claims Cycle
Insurance Econ 10/23.
InCite Performance Group
The Rules of Insurance.
Protecting your interest! Foylelegal.com Car Accidents Failure to Give Way.
E. PLANNING AND PREPARING TO MANAGE A SMALL BUSINESS
Insurance By: debshoganteaching
Warmup Julio has $10,000 worth of property damage liability insurance. He caused an accident that caused $12,000 in damages to a house. How much of the.
CorVel is the Worker’s Comp Vendor
Purchasing a Vehicle 6.2a.
RCSA Funding Proposal.
Principles of Insurance
Insurance Basics (Don’t Risk It)
Car Accident Statutes of Limitations in Connecticut
Insurance and Tax CH 12 Work out sums for Insurance and Tax
UIF 1% to max R (Equal ER & EE Contributions)
By : DeAndre Thomas 5th period #2k12 we going in!
Chapter 5 Principle of insurance
Protecting Your Claim After a Car Accident
Common Mistakes to Avoid After a Car Accident
Presentation transcript:

Principles Of Insurance

 Basis Of Insurance  All Risks  Proposal Form  Compensation  Average Clause  Need For Insurance  Car  Life  Claim

Principles Insurance claimcontract

Personal Experience Parents/Guardians Previous Classes

Terminology Layout Numeracy Differentiation

Brainstorm Worksheet – Proposal Form/Claim form Group work (Role-play/Weakest link)

Name_______________________ Tel. No (H)____________________ (W)______________________ Address___________________________________________________________________________________________________ Date Of Birth __________________ Occupation ___________________ Vehicle Make:_______________________ Model ___________________ C.C. ___________________ Year Of Manufacture______________ Reg No______________________ Accident Give Full Details Of Damage To The Vehicle _________________________________________________________________________________________________________ _________________________________________________________________________________________________________ _________________________________________________________________________________________________________ Date of Accident _______________ Time of Accident__________________________ Location of Accident _______________________________________________________ Was anybody injured ? Yes/No If yes, Please give details____________________________________________________________ Describe how the accident occurred: _________________________________________________________________________________________________________ _________________________________________________________________________________________________________ _________________________________________________________________________________________________________ Were the Gardai Notified? Yes/No Which Garda Station________________________________________________________________ Were The Witnesses to the Accident/Damage? Yes/No If Yes, name the witness _________________________________________________________________ Address of witness_______________________________________________________________________ Estimated cost of repair _____________________________________________________________________________

House value= 250,000 Insured for= 150,000 A fire causes 40,000 worth of damage. Sum Insured Average clause= Market value of item X Loss

 Cusack,D. and Roche, M. (2002).Studies In Business Junoir Certificate Business Studies, 2 nd ed, Dublin: Fallon.  Taylor, J. (2006) Eurobusiness, 2 nd ed, Ireland: Folens.  ss/ ss/