1.0 General Insurance Overview
Learning Objectives
Upon the completion of this chapter, you will be able to:
- Recognize definitions of general insurance and insurance law terminology
- Identify basic insurance concepts and principles
- Identify the characteristics of insurers
- Recognize the role of insurance producers
- Recall the elements of legal contracts and interpretations affecting contracts
- Define insurable interest
Overview
In this chapter, students will become familiar with the fundamentals of the insurance industry and the key principles that serve as the basis of insurance in every state.