U.S. Commercial Property and Liability Insurance

A Distance-learning Course

What?

A program that provides a solid understanding of the breadth and depth of commercial property and liability insurance. Topics:

Part 1. Principles of Insurance and Underwriting

1. Insurable Risk.

2. Insurance Principles.

3. U.S. Insurance Industry.

4. Brokers, Agents, and Claims.

5. Legal Environment of Insurance.

6. Insurance Contracts.

7. Underwriting and Ratemaking

Part 2. Commercial Property and Liability Insurance

8. Property Insurance.

9. Legal and Contractual Liability.

10. Tort Liability and Negligence.

11. General Liability Insurance.

12. Professional, Medical, and D&O Liability.

13. Specialty Lines.

14. Reinsurance.

Who?

The program will be valuable for junior underwriters, risk analysts, information systems specialists, accountants, human resources managers, and other professionals who need to understand the purchase of insurance and resolution of claims after a loss.

Why?

Completion of this program will help you gain new perspectives on commercial insurance fits in the risk ecosystem:

  • Underwriter View. How often will a loss occur and how much will it cost?
  • Risk Manager View. How can we reduce likelihood and severity of a loss?
  • Broker View. How do we consider all viewpoints?
  • Claims Adjuster View. How can we avoid such a loss in the future?
  • Chief Financial Officer View. What is our total cost of the risk?
  • Risk Analyst View. How does technology help answer questions about risk?

Where?

The program is available online, on-site, or a combination of both:

  • Distance Learning. Register online and complete two sets of exercises.
  • 1-Day Training. Attend a seminar in an interactive classroom setting plus additional exercises.
  • 2-Day Training. Attend a seminar in an interactive classroom setting plus additional exercises.
  • 4-Day Training. Attend a seminar in an interactive classroom setting without additional exercises.

How?

The Sponsor awards a Certificate based on achievement:

  • Distance Learning. Completion of two sets of written exercises based upon the customized materials.
  • One-day or Two-day Seminar. Participation in classroom sessions, completion of shorter set of customized exercises, and approval of the instructor.
  • Four-day Seminar. Participation in classroom sessions and approval of the instructor.

Participants individually submit exercises by email to instructor.

  • Submissions are scored on a pass/fail basis.
  • If a submission does not receive a grade of pass, the individual may resubmit it.
  • A passing grade is reported to the candidate based on a letter scale from B minus to A.

When?

Timing is based upon the format:

  • Distance Learning. An individual can sign up online at any time.
  • Corporate Training. When scheduled by a participating sponsor.

How Much?

Tuitioncoversthe downloadable Workbook, Study Guide, and full instructor email support throughout an entire course.

  • Distance Learning. Depends upon the sponsor.
  • Corporate Training.Negotiated based on format and number of participants.

Downloading the Textbook

The textbook is available for download at The steps are:

  • Click Purchase Books.
  • ClickBook Title and then Add to cart
  • Proceed to Checkout. Or proceed to checkout with PayPal.
  • I’m a new customer. Continue
  • I want to use a new billing address. Enter information. Bill to this address.
  • Continue. To receive a 25% student discount, enter discount codePB25
  • Proceed to Payment. Enter information. Pay for order.
  • Find your order. Click Download files. Then sign out on top.
  • Having Trouble? Email

Detailed List of Topics

Part 1. Principles of Insurance and Underwriting

1. Insurable Risk.

What do we insure? How should we assess and measure insurable risk?

2. Insurance Principles.

How does insurance work? Why does it work?

3. U.S. Insurance Industry.

Who are the participants and what do they do? Includes industry structure, “market cycles,” the role of regulators, and solvency.

4. Brokers, Agents, and Claims.

How do we distribute commercial insurance? How do we settle losses?

5. Legal Environment of Insurance.

What is the unique structure of insurance law? How does it work?

6. Insurance Contracts.

What are the key characteristics of a commercial insurance agreement?

7. Underwriting and Ratemaking.

What are the goals of the underwriter? What is insurance ratemaking? Includes Lloyd’s and our understanding of underwriting risk.

Part 2. Commercial Property and Liability Insurance

8. Property Insurance.

What are the features of coverage for real and personal property?

9. Legal and Contractual Liability.

What is the scope of legal liability? What is the breadth of lawsuit exposures?

10. Tort Liability and Negligence.

How doesgeneral and business tort liability shape insurance coverage?

11. General Liability Insurance.

What is the role of the Commercial General Liability (CGL) Policy?Includes claims-made and occurrence policies.

12. Professional, Medical, and D&O Liability.

What are key characteristics of MedMal, E&O, and D&O coverages?

13. Specialty Lines.

What is the nature of coverages such as boiler and machinery, business interruption, inland and ocean marine, earth movement,and crime insurance.

14. Reinsurance.

What are the features and roles of facultative and treaty reinsurance, capital markets and insurance securitization, and catastrophe bonds.

One-Day Corporate Format

Part 1.Principles of Insurance and Underwriting

9:00am - 10:15am

  • Insurable Risk and Insurance Principles. An understanding of insurable risk and identification of the principles underlying insurance.
  • Insurance in the United States. An introduction to the insurance industry in the United States covering carriers, brokers, and agents.

10:45am - 12:00pm

  • Insurance Law and Contracts. Examination of the legal environment of insurance and the nature of insurance policies.
  • Underwriting and Rate Making. The carrier evaluation of risks and the determination of premiums to be charged for insurance policies.

Part 2. Commercial Property and Liability Insurance

1:00pm - 2:15pm

  • Property Insurance and Legal Liability.The features of coverage for real and personal property and the scope of legal liability.
  • Tort Liability and General Liability Insurance.Tort liability, negligence, and the Commercial General Liability (CGL) Policy.

2:45pm - 4:00pm

  • Professional Liability and Specialty Lines.Professional, medical malpractice (MedMal), and a variety of insurance coverages available in the marketplace.
  • Reinsurance. Facultative and treaty reinsurance and insurance securitization.

Two-Day Corporate Format

Part 1.Principles of Insurance and Underwriting

Day 1

9:00am - 10:15am

Insurable Risk and Insurance Principles.

An understanding of insurable risk and identification of the principles underlying insurance.

10:45am - 12:00pm

Insurance in the United States.

An introduction to the insurance industry in the United States covering carriers, brokers, and agents.

1:00pm - 2:15pm

Insurance Law and Contracts.

Examination of the legal environment of insurance and the nature of insurance policies.

2:45pm - 4:00pm

Underwriting and Rate Making.

The carrier evaluation of risks and the determination of premiums to be charged for insurance policies.

Part 2. Commercial Property and Liability Insurance

Day 2

9:00am - 12:00pm

Property Insurance and Legal Liability.

The features of coverage for real and personal property and the scope of legal liability.

10:45am - 12:00pm

Tort Liability and General Liability Insurance.

Tort liability, negligence, and the Commercial General Liability (CGL) Policy.

1:00pm - 2:15pm

Professional Liability and Specialty Lines.

Professional, medical malpractice (MedMal), and a variety of insurance coverages available in the marketplace.

Reinsurance.

Facultative and treaty reinsurance and insurance securitization.

Four-Day Corporate Format

Part 1.Principles of Insurance and Underwriting

Day 1

9:00am - 12:00pm

Insurable Risk and Insurance Principles. An understanding of insurable risk and identification of the principles underlying insurance.

1:00pm - 4:00pm

Insurance in the United States. An introduction to the insurance industry in the United States covering carriers, brokers, and agents.

Day 2

9:00am - 12:00pm

Insurance Law and Contracts. Examination of the legal environment of insurance and the nature of insurance policies.

1:00pm - 2:15pm

Underwriting and Rate Making. The carrier evaluation of risks and the determination of premiums to be charged for insurance policies.

Part 2. Commercial Property and Liability Insurance

Day 3

9:00am - 12:00pm

Property Insurance and Legal Liability.

The features of coverage for real and personal property and the scope of legal liability.

1:00pm - 4:00pm

Tort Liability and General Liability Insurance.

Tort liability, negligence, and the Commercial General Liability (CGL) Policy.

Day 4

9:00am - 12:00pm

Professional Liability and Specialty Lines.

Professional, medical malpractice (MedMal), and a variety of insurance coverages available in the marketplace.

1:00pm - 2:15pm

Reinsurance. Facultative and treaty reinsurance and insurance securitization.