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Risk Management

This course will provide students with an overview of insurance business practices from the broker/agent’s perspective. It is a skills-based course concentrating on the needs of personal lines clients and small commercial risks. It introduces the broker/agent as insurance intermediary. The student will be given insights into the skills that a typical broker/agent will use to perform effectively. The progress of a risk from initial contact with the client through the evaluation and application process, to binding and policy documents will be followed. In this course, the student will also review the major product lines and common policy transactions that a broker/agent handles.

Credit Status
PNC102 is a required subject in the Property and Casualty Program – P&C Program. Upon successful completion, it will provide one of the 6 credits required to secure a Certificate of Successful Completion of the P&C Program. Students also have the option of challenging The Insurance Institute of Canada’s C130 Essential Skills for the Insurance Broker and Agent examination.

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

  1. Formulate a definition of the role of the Insurance Intermediary and justify the necessary “soft skills” for this role.
  2. Analyze a risk.
  3. Complete an insurance application, from a binder to the issuing of a policy.
  4. Analyze risks and coverages for property, automobile and liability insurance.
  5. Prepare an overview of common insurance transactions.
  6. Determine the broker’s role in the claims process.

Grading and Examinations
In compliance with the Grading Policy outlined below, the student’s final mark will be based upon the following:

Class Participation 20%
Mid-Term Examination 30%
Final Examination 50%

Upon successful completion of PNC102 students may challenge the C130 Examination with The Insurance Institute of Canada (IIC).

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 following:
C130 Essential Skills for the Insurance Broker and Agent (2008) –
The Insurance Institute of Canada

All PNC102 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. The Insurance Intermediary
  2. Broker Skills – An Overview
  3. Analyzing Risk
  4. Applying for Insurance
  5. From Quote to Policy
  6. Property Insurance
  7. Property Insurance (Cont’d)
  8. Mid-Term Examination
  9. Liability Insurance
  10. Automobile Insurance
  11. Renewals, Endorsements, Premiums and Cancellations
  12. Claims
  13. Final Examination

 

 

 

 

 

 

 

 

 


Updated: September 2009