FAK 2639 Roles of Insurance Brokers – Life, Pensions and Property Damage
The course is an introduction to central topics relating to the role of the insurance broker within the fields of life and pension insurance and insurance against property damage, including relevant legislation, regulations, standard-form contracts, etc. The focus is on the role of the insurance broker in relation to these types of insurance.
The course is mandatory for persons wishing to obtain an insurance broker license.
The students shall acquire knowledge of all aspects of the insurance broker’s role and tasks relating to life and pension insurance and insurance against property damage, including the main principles in the legislation.
The students shall acquire knowledge about roles and obligations in relation to other parties in the tripartite cooperation (customer and insurance supplier).
The students shall be able to assess and decide on concrete issues and problems that can crop up as part of the insurance commission. They shall also be able to give a detailed account of concrete issues and problems in the various phases of the commission, both in terms of the practical implementation and the relevant regulations.
During the course, the students shall develop a conscious attitude as regards the role of the insurance broker and the responsibilities, both in relation to customers and insurance suppliers, and that the advice that the insurance broker provides may have a large impact on all parties to the insurance contract. They must be especially conscious of the importance of the insurance broker’s independence of the insurance suppliers when practicing as an insurance broker. They must be able to identify and discuss ethical and other dilemmas that may arise when working as an insurance broker.
The course consists of two separate modules: the role of the insurance broker in relation to insurance against property damage; and this role in relation to life and pension insurance. Each module counts 50% of the course.
Both modules are an introduction to the role of the insurance broker and tasks and assignments in the following phases of the commissions:
- Demand analysis and risk assessment
- Product assessment
- Assessment of legislation and other regulations (Norwegian and international when relevant)
- Market assessment
- Insurance (bid phase, administration phase, renewals, changes in terms).
One semester part-time is the standard period of study.
The course is mainly web-based. The teacher will use Its learning to publish course materials, assignments and digital resources and the students will be given the opportunity to communicate with the teacher and fellow students. There are two voluntary hand-in assignments in the course.
In addition, there will two 2-day teaching sessions totalling 28 teaching hours, one session for each of the two modules in the course.
The course requires students to have necessary knowledge of the relevant insurance types, but a brief description will be given, to illustrate the broker’s role in relation to the various insurance types.
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|Group/Individual (1 - 3)
|Form of assessment:
|Examination when next scheduled course
Group work / Assignments
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.