Virginia 12 Hour Adjuster Course with Ethics

This 12-hour continuing education course provides 12 of the 24 hours needed to renew licenses for multi-line and public property and casualty adjusters. The content in this course addresses multiple P&C topics, including in-depth discussions of assorted policies, their attributes and coverages, exclusions, conditions, and much more. The topics covered in this course include professional ethics for insurance licensees, followed by a thorough discussion of homeowner’s insurance. Continuing, the course provides a deep look at anti-money laundering and how to detect and prevent the crime, with a topical and current exploration of toxic mold and related insurance issues. The course package concludes with a basic view of flood insurance. To receive certification for the course, a 65-question final exam must be successfully completed.

Specifically, the course explores the following:

• Professional Ethics, including the principles of ethics, agents versus salespeople, ethics versus morals, approaches to ethical decision-making, including the rights, fairness, common good, and utilitarian, ethical concepts and terminology, accountability, fidelity, equity, and more. Continuing, the lesson discusses ethics in the real world, legal enforcement of ethics, how to be a successful business, biases, duties to the customer, business, employees, and society. Ethical situations, advertising, gray areas, sales presentations, and unfair trade practices;
• Homeowners insurance coverage, including its characteristics and purpose, the coverage forms currently available, associated terms and definitions, conditions and exclusions, property and liability coverages, protections under each section of the policy, additional and extensions of coverages, medical payments, perils insured against in each type of contract, and duties after a loss. This is followed by material that discusses specific conditions in the contract, such as deductibles, policy periods, concealment or fraud, cancellation and non-renewal, loss settlements, death of the insured, and more’
• Anti-Money Laundering: this lesson gives the insurance student a topical and up-to-date discussion on money laundering and anti-money laundering (AML) efforts in the insurance industry. This section of the course package includes material on the history of money laundering, the steps involved in money laundering, AML detection and national efforts to combat money laundering, money laundering in insurance, notable case studies, obligations of insurers including reporting and associated forms, and finishes with a discussion of preventing money laundering, training agents and brokers and related obligations, and additional red flags and compliance.
• Toxic Mold: This lesson in the course provides a deep look at toxic mold and insurance coverage. This part of the course details what toxic mold is, the different types of mold commonly seen, conditions conducive to toxic mold, harmful effects and structural damage, health risks and toxicity, mold remediation and insurance (prevention). The lesson continues with a discussion of how mold claims are handled (including case studies), important definitions and concepts, coverage restrictions, and direct and indirect claims. Coverage for agent errors and omissions is explored, and the lesson concludes with bad faith claims and their grounds.
• Flood Insurance: The final lesson in this course provides an amplified primer on flood insurance, and provides an introduction to the National Flood Insurance Program (NFIP). Included in this section is the history of flood insurance, write-your-own policies compared to standardized contracts, premium rates, grandfathering, mapping, flood insurance advocates and their purpose, the future of flood insurance, flood insurance and the role of an insurance producer, basic knowledge needs, the standard flood hazard determination form (SFHDF), definitions and concepts, myths versus reality surrounding flood coverage, NFIP training detailing errors and omissions concerns, ethics, and best practices, high-risk flood areas, homeowner, renter and commercial clients, how to obtain lower rates, case law studies, forced flood insurance coverage placement, complaints, becoming an NFIP producer, writing a policypre-and post-firm concerns, and how much insurance is required or selected.

There is a 65-question final exam drawn from the course that must be passed in order to receive certification.

Course Format: Text

Credit Type: Ethics, Public Adjuster

Course ID(s): 229606

Approved By: Bureau of Insurance