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Property and Casualty Insurance Licensing

This course will provide students with a solid understanding of the principles and practices of property and casualty insurance. In addition to their license, students will also earn a certificate in The Insurance Institute of Canada’s General Insurance Essentials program, upon successful completion. They will learn about the fundamentals of the insurance industry – the component parts, their functions, how it is regulated and the products and services it offers. It will look at the various segments within the industry and how they all fit together. The course will briefly explain how legislation regulates and controls all aspects of insurance. Commonly used words and phrases as well as the most common classes of insurance will be discussed. The claims process will be reviewed along with reinsurance, risk management, and loss prevention.

Credit Status
PNC101 is a required subject in the Property and Casualty (P&C) Program. Upon successful completion, it will provide one of the 6 credits required to secure a Seneca Certificate of Successful Completion of the P&C Program.

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

  1. Apply an understanding of the word “Insurance” in terms that are understood both by the industry and by consumers.
  2. List the parties of an insurance contract and break down the essential ingredients of such a contract.
  3. Specify the various types of risk, provide examples, and show how risk can be dealt with.
  4. Define a peril versus a hazard and give examples.
  5. Demonstrate an understanding of the basic insurance relationships.
  6. Specify, in simple terms, the considerations that enter into the making of rates and the determination of premiums.
  7. List the functions of insurance in society.
  8. Prepare examples of the major type of insurance included under the heading of general insurance.
  9. Illustrate a brief history of the roots of Canadian law, distinguishing between common law, statute law and the Civil Code of Quebec.
  10. Show the requirements of a valid contract according to common law and the laws of Quebec, and develop an explanation for each.

Grading and Examinations
In compliance with the Grading Policy outlined below, the student’s final mark will be based upon the following:
RIBO/OTL Examination  100%

Final Grades:
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%
F 0% to 54%    (Not a pass)

For the complete grading policy please refer to Seneca’s Academic Policy.

Text and Reference Material
The incidental costs for this course include the cost of the following:

C81 Part I – General Insurance Essentials (2006)
C82 Part II – General Insurance Essentials (2006)
Ontario Automobile Insurance (2007 Edition)
Sample Policies
Destinations and Arrivals – Travel Health Insurance - IBAO

All PNC101 course materials are adapted with the permission of the publishers.

Pre-requisites
None.

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 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 Resolution, Equity and Diversity Centre at ext. 2078 or via e-mail at Human.Rights@senecac.on.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 Counseling and Disabilities Services Office at ext. 2900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Detailed Topic Outline By Week
(Fall 2009)

  1. Introducing the Insurance Business, Insurance Intermediaries, Insurance Intermediaries (Cont’d), The Insurer
  2. The Insurer (Cont’d) , Basic Documents, Common Clauses, Insurance Practices,  Basic Documents, Common Clauses, Insurance Practices (Cont’d), Automobile Insurance
  3. The Automobile Policy, Third Party Liability, Automobile Accident Benefits, Loss of or Damage to the Insured Vehicle, Loss of or Damage to the Insured Automobile, Government  Automobile Insurance Plans
  4. The Law and Insurance, Insurance Contracts, Government Control, Insurance Organizations and Associations, Fire Insurance
  5. The Comprehensive Homeowner’s Policy, Other Personal Lines Policies
  6. Commercial Coverage
  7. Claims and Loss Adjustments, Reinsurance, Risk Management, Loss Prevention, Travel Health Insurance, RIBO Act
  8. Final Exam

 

 

 

 

 

Updated: August 2009