| CODE | INS2015 | ||||||||
| TITLE | Personal Lines Insurance 1 | ||||||||
| UM LEVEL | 02 - Years 2, 3 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 5 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Insurance and Risk Management | ||||||||
| DESCRIPTION | This unit will deal with property-related products particularly those that are highly sought by personal insurance policyholders. The unit will cover general and specific features of the personal lines products together with highlights of policy cover, exclusions, extensions and other related terms and conditions. An overview of the underwriting and claims process will also feature. The following classes will be dealt with: Household Buildings insurance; Household Contents insurance; Personal Possessions insurance; Caravan Insurance; Boat / pleasure craft insurance; Travel insurance; Private Motor insurance. Study-unit Aims: The aim of this unit is to enable students to express themselves on the policy aspects of the personal lines products. That is, property and casualty insurance products for individuals. Personal insurance lines help protect individuals from potential losses they couldn’t afford to cover on their own and makes it possible to do things like drive a car and own a home without risking financial ruin. This unit will seek to focus on the following areas: Household Buildings insurance; Household Contents insurance; Personal Possessions insurance; Caravan Insurance; Boat / pleasure craft insurance; Travel insurance; Private Motor insurance. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: a) develop the participants knowledge of the various insurance policies related to domestic risks and to provide an understanding of the extent of cover afforded by different personal lines policies. That is to strengthen the students' grasp of insurance products such as: • Household Buildings insurance; • Household Contents insurance; • Personal Possessions insurance; • Caravan Insurance; • Boat / pleasure craft insurance; • Travel insurance; • Private Motor insurance. b) gain knowledge of types of personal insurance, such as automobile liability insurance, health insurance, comprehensive and collision automobile insurance and homeowners insurance; c) determine that the amount of insurance coverage available generally depends on how much the individual is willing to pay in premiums; the more someone is willing to pay, the more insurance they can obtain; d) gain practical knowledge by looking at cases were for example, individuals may be unable to purchase a policy for a particular risk if they pose too great of a risk to the insurance company. For example, someone with a history of cancer might not be able to purchase life insurance. In other cases, high-risk individuals can still purchase insurance, but will have to pay above-average premiums to compensate the insurer for the extra risk. An example is high-risk auto insurance for drivers who have been at fault in multiple accidents over a short time; e) determine when personal lines won’t cover risks an individual might face, but can dramatically reduce the Euro amount of potential losses. Students will be able to determine how insurers tailor each policy’s coverage and deductibles to strike the right balance between the amount of coverage and the cost of premiums. 2. Skills By the end of the study-unit the student will be able to: - read and interpret different personal lines insurance policies; - explain the various wording, terms and provisions of the policies; - provide an explanation of the intention of the various sections of cover and exclusions. Main Text/s and any supplementary readings: Recommended text: - Anon., (2012). Personal Insurance course book 760. London: Chartered Insurance Institute. Supplementary Reading: - Anon., (1997). Whiterby's dictionary of insurance. 3rd ed. London: Whiterby. - Collins, M. J., (1989). Motor Insurance. London: Whiterby. |
||||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
|
||||||||
| LECTURER/S | Andre Farrugia |
||||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
|||||||||