CIP130 - Essential Skills for the Insurance Broker & Agent

Outline info
Semester
School
Last revision date 2017-11-02 14:14:07.845
Last review date 2017-11-02 14:14:07.847


Subject Title
Essential Skills for the Insurance Broker & Agent

Subject Description
Essential Skills for the Insurance Broker and AgentThis course provides an overview of insurance business practices from the broker's perspective and begins by introducing the broker as an insurance intermediary. Students learn the needs of personal lines clients and small commercial risks and the skills that typical grocer will use to perform effectively. Students will follow the progress of a risk from initial contact with the client through the evaluation and application process, to binding and policy documents. Major product lines and common policy transactions handled by brokers will be reviewed.
Pre-requisite: CIP013

Credit Status
One Credit

Learning Outcomes
Upon successful completion of this subject the student will be able to:

- Discuss the roles and functions of insurance intermediaries
- Identify the importance of soft skills such as customer service, communications and sales
- Assess potential clients and identify risk exposures
- Understand and complete insurance applications
- Discuss binding authority and policy issuance
- Understand essential skills for selling property, liability and automobile insurance
- Handle policy changes, renewals and cancellations
- Appreciate the role of the broker in the claims process

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Prerequisite(s)
CIP013

Topic Outline

  • The Role of Insurance Intermediary
  • Overview of Broker “Soft” Skills
  • Practical Risk Analysis
  • Completing the Application
  • CIP Exam Registration
  • From Binder to Policy
  • Analyzing Risks and Coverage: Property
  • Analyzing Risks and Coverage: Automobile
  • Analyzing Risks and Coverage: Liability
  • Overview of Common Insurance Transactions
  • Broker’s Role in Claims Process
  • Licensing and RIBO 

Mode of Instruction
A combination of teaching methods will be utilized which may include lectures, class discussions, problems and case studies.  

Prescribed Texts
C130: Essential Skills for the Insurance Broker and Agent. Insurance Institute of Canada
A Reference/Resource Guide is also available from the Insurance Institute of Canada

Textbooks must be purchased directly from the Insurance Institute of Canada • Telephone: 416.362.2588
College fee does not include textbook.

Reference Material
 

Required Supplies
A notebook, pens, highlighter

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.


Modes of Evaluation

• In Class Assignments 10%
• Midterm Test 30%
• Final Exam 60%
 
Those students electing to obtain a credit from the Insurance Institute of Canada (IIC) will write the IIC final exam, which will be written outside of Seneca College. Details regarding the registration process, payment, and date/time/location will be communicated to the class by the Seneca College course instructor. Those students not wishing to pursue the IIC credit will write a Seneca College final exam. In both cases, students who are successful will receive a Seneca College credit.

To obtain the IIC credit: students must achieve a minimum mark of 70% on the term work (counted out of 100) and 55% on the IIC final exam (counted out of 200) for a combined minimum total mark of 180 out of 300. To obtain Honours, an overall course grade of 80%, including a minimum final exam mark of 80% (240 out of 300) is required.

Academic Program Manager:
Emiliano Introcaso

Approved by: Academic Program Manager Emiliano Introcaso