FAK 2624 Household Insurance

APPLIES TO ACADEMIC YEAR 2014/2015

FAK 2624 Household Insurance


Responsible for the course
Kjell Smedsrud

Department
Department of Accounting - Auditing and Law

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
The course will give a broad introduction to the topic household insurance. Mandatory in authorization of claims handlers and advisers working with household insurance.


Learning outcome
Acquired knowledge
The students shall obtain basic knowledge of statutory rules, terms of insurance and principles of rating concerning household insurance. The students shall also obtain basic knowledge regarding travel insurance.

Aquired skills
This course will give students ability to give advice in most topics related to insurance terms and insurance law concerning household insurance. The students will also know how to use this knowledge in claims handling.

Reflection
During the course, the students should have acquired a conscious attitude to the fact that their professional choices and advices first and foremost are of importance for other people than themselves.


Prerequisites
The student needs basic knowledge of the Norwegian Insurance Industry. The course Introduction to Insurance is recommended. Experience from work in the Insurance Industry is an important source of understanding, as well.


Compulsory reading
Books:
Amtedal, K., R.O. Nordgaard og K. Eide. 2009. Reiseforsikring. 5. utg. BI Forsikring
Bakke, Jan. 2012. Grunnleggende skadebehandling. 6. utg. BI Forsikring. Utdrag fra kapittel 3
Smedsrud, Kjell, red. 2012. Brann- og kombinert forsikring : privat. 7. utg. BI Forsikring
Trosdahl, Kristian, red. 2010. Skadeforebygging – Artikkelsamling. 10. utg. BI Forsikring. Kap. 1 - 4 og kapittel 8


Other:
Div. artikler om Hussopp og skadedyr i hus:
http://www.byggogbevar.no/pusse-opp-gamle-hus/brann,-sopp-og-raate/artikler-brann,-sopp-og-raate.aspx
http://www.skadedyr.no/sitemap.html
Lover, forskrifter og utdelt materiell
Naturskadeforsikring -Eget hefte +
http://www.slideshare.net/FNH/naturskadeforsikring



Recommended reading

Course outline
Historical survey

The Insurance Contract/ The Insurance Contracts Act
· Regulation regarding formation of contract, premium rating and claims handling. Duty of disclosure, Insurance certificate, limitations, limitation period/ cancellations, complaint handlings, complaint boards, fraud.

Terms regarding household, detached house, agricultural insurance, group household insurance and insurance of valuables.
· Terms regulation regarding who is insured, what is insured, where is the insurance valid.
· Terms regulation regarding what kind of damages is covered/not covered natural hazards included, limitations, hazard increase, safety codes and identification regulations.
· Regulations regarding objects fully insured , first loss and fixed amount insurances including stipulation of amount insured, index adjustments, reporting of extensions of the house or new household assets that should be insured specially.
· Regulations regarding legal assistance or liability insurance covered by the household insurance contract.

Scale of rate and ratings
· Central principles of rating, including rating of class of construction, location, types of insurance and safety measures.
· Practical use of ratings , manually calculation of premium.
· Etichs
· Principles of underwriting
· Safety measures - risk preventions.

Claims handling
· Main principles regarding claims handling. Date limits reporting damage or accident, regulation of limitation periods, interest rates and the policyholders duty of disclosure.
· Regulations regarding calculation of compensation of fully insured, first loss or fixed amount insured objects including own risk, underinsurance, new-for-old deduction, rebuilding, fraud and breach of duty of safety regulations.

Expert assessment

  • Guidelines regarding expert assessment

Travel insurance
A review of the most common insurance products covered by travel insurance. Accompanied baggage, travel sickness, liability and repatriation.

· Terms regarding who is insured, what is insured, including accompanied luggage, travel sickness, liability insurance and travel accident insurance; and where is the insurance valid.

· Terms regulations regarding what kind of damages is covered/not covered, limitations, special types of coverage, including “all-year-round”- and short-term insurance policies and cancellation insurance.

· Regulations regarding claims handling.

· Safety codes including supervision and storing of luggage, consequences of breaching the safety regulations, fraud and information regarding complaint boards.

· Main principles regarding claims handling and rating.

Loss prevention

  • Philosophy of loss prevention
  • Locks and alarms
  • Relevant laws and regulations
  • Remaining Value Salvage

Computer-based tools
It´s learning/virtual classroom/intranet facilities.

Learning process and workload
Part-time
Organized as distance education based on self-tuition and three send-ins (not mandatory).
Intensive three-days seminars are organized but participation is not mandatory.

Recommended workload in hours:
Activity
Timebruk
Partcipation on a intensive 3 days seminar
21
3 send-inns (not mandatory)
15
Curriculum and exercises
160
Exam
4
Total recommended use of time
200


    Examination
    Four hours individual written exam. If used for Authorization the candidate must obtain at least grade C.

    Examination code(s)
    FAK 26241 Household Insurance. Written examination, which account for 100 % of the final grade in the course FAK 2624 Household Insurance. 7,5 credits.

    Examination support materials
    All support materials allowed including BI-approved exam calculator and allowed. TEXAS INSTRUMENTS BA II Plus™
    Examination support materials at written examinations are specifies under exam information in our web-based Student Handbook. Please note the use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids


    Re-sit examination
    A re-sit is held at the next scheduled exam in the course.

    Additional information