FAK 2624 Household Insurance

FAK 2624 Household Insurance

Course code: 
FAK 2624
Department: 
Law and Governance
Credits: 
7.5
Course coordinator: 
Ina Due-Tønnessen
Product category: 
Executive
Portfolio: 
Course in Insurance
Semester: 
2018 Autumn
Active status: 
Active
Teaching language: 
Norwegian/English
Course type: 
One semester
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 outcomes - 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.

Learning outcomes - 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.

Learning Outcome - 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.

Course content

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
Learning process and requirements to students

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

Software tools
No specified computer-based tools are required.
Qualifications

Higher Education Entrance Qualification

Required prerequisite knowledge

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.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
FAK 26241
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes4 Hour(s)
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Individual Four hours individual written exam. If used for Authorization the candidate must obtain at least grade C.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Duration:4 Hour(s)
Comment:Four hours individual written exam. If used for Authorization the candidate must obtain at least grade C.
Exam code:FAK 26241
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching21Hour(s)Partcipation on a 3 days intensive seminar
Submission(s)15Hour(s)3 send-inns (not mandatory)
Self study160Hour(s)Curriculum and exercises
Examination4Hour(s)Exam
Expected student effort:
Workload activity:Teaching
Duration:21 Hour(s)
Comment:Partcipation on a 3 days intensive seminar
Workload activity:Submission(s)
Duration:15 Hour(s)
Comment:3 send-inns (not mandatory)
Workload activity:Self study
Duration:160 Hour(s)
Comment:Curriculum and exercises
Workload activity:Examination
Duration:4 Hour(s)
Comment:Exam
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.