Liability Loss Exposures and Insurance

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Level: Beginner

Why you need this course:
After completing this course, you'll have a basic understanding of the types of damages that a policyholder may be required to pay and how liability insurance coverage helps defend the policyholder in related legal action.

Upon successful completion of this course, you should be able to:

  • Distinguish among the following:
    • Constitutional law
    • Statutory law
    • Common law
  • Distinguish between criminal law and civil law.
  • Explain how each of the following can be the basis for legal liability:
    • Torts
    • Contracts
    • Statutes
  • Describe the four elements of negligence.
  • Describe the potential financial consequences of liability loss exposures.
  • Identify the parties that may be insured by a liability insurance policy.
  • Describe circumstances that create liability loss exposures.
  • Describe the various types of injury or damage that are typically covered in liability insurance policies.
  • Describe loss exposures typically excluded in liability insurance policies.
  • Describe the costs typically covered in liability insurance policies and how these costs are determined.
  • Explain the difference between occurrence basis and claims-made coverage.
  • Explain how claim payments are affected by policy limits and defense cost provisions.

Cost: $20 per Professional Development Hour (PDH). Information on PDHs provided can be found here.

Liability Loss Exposures and Insurance Topics Include:

  • Constitutional law
  • Statutory law
  • Common law
  • Criminal law and civil law
  • How torts, contracts, and statutes can be the basis for legal liability
  • Four elements of negligence
  • Potential financial consequences of liability loss exposures
  • Parties that may be insured by a liability insurance policy
  • Circumstances that create liability loss exposures
  • Various types of injury or damage that are typically covered in liability insurance policies
  • Loss exposures typically excluded in liability insurance policies
  • Costs typically covered in liability insurance policies and how these costs are determined
  • The difference between occurrence basis and claims-made coverage
  • How claim payments are affected by policy limits and defense cost provisions

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Phone: (800) 644-2101

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