Insurance Law Course Description: A study of the Insurance Code and related laws, including the concept and

function of insurance, the nature of the insurance contract, insurable interest, special forms and government regulations of the insurance business. I. Introduction a. Historical Perspectives b. Definitions II. Contract of Insurance a. Characteristics and nature b. Elements c. What may be insured d. Parties e. The Policy f. Premium g. Double Insurance h. Reinsurance III.Insurable Interest a. In life/health b. In property c. Double insurance and over insurance d. Multiple or several interests on same property
IV. Rescission of Insurance Contracts

a. b. c. d.

Loss Concealment Representation Warranties

V. Classes of Insurance a. Marine insurance b. Fire insurance c. Casualty insurance d. Suretyship e. Life insurance f. Compulsory motor vehicle liability insurance
VI. The Business of Insurance

a. Insurance companies b. Suspension and revocation of authority c. Security fund d. Insurance agents, brokers, underwriters and adjusters

e. Mutual Benefits Association

VII. Claims Settlement and Subrogation

a. Notice and proof of loss b. Guidelines on claims settlement 1. Unfair claims settlement; sanctions 2. Prescription of action 3. Subrogation VIII. The Insurance Commissioner a. Administrative Powers b. Adjudicatory Powers