Virginia 8 Hour Property and Casualty Review with Ethics

This 8-hour continuing education course will provide the Virginia Property and Casualty licensee with current and up-to-date information in order to successfully renew their license. Topics in this course include an in-depth discussion of ethics for insurance professionals, followed by a deep dive into commercial insurance policy packages which provides the student with a complete and thorough exploration into commercial coverage for all types of businesses.

Specifically, the course examines these topics:

• Ethics in the real world, agents versus salespeople, ethics versus morals, what ethics are and are not, and approaches to ethical decision-making;
• Ethical concepts and terminology, such as accountability, legality, fidelity, honesty, and more;
• Ethical practices, including legal enforcement, ethics for a successful business, decision-making models, duties to all parties in the transaction, fiduciary responsibilities, duties beyond the legal mandates and those not governed by law, advertising, gray area, sales presentations, and unfair trade practices;
• The commercial policy package (CPP), its purpose and components, insuring agreements, coverage parts, inland marine and floaters, common declarations and policy conditions, and interline endorsements;
• Commercial general liability (CGL) policies, including covered risks and exposures, bodily injury, property damage, medical payments, personal and advertising injury, supplementary payments, exclusions and conditions, and renewal concerns;
• Occurrence versus claims-made contracts and triggers for coverage, retroactive dates, extended reporting periods, duties in the event of an occurrence, offense, claim or suit;
• Premises and operations coverage, products and completed operations, defining the insurance contract, commercial property and conditions, cause of loss forms, and building and personal property forms;
• Condominium associations, electronic data, valuable papers and records, builder’s risk, additional coverages, limitations on covered losses, legal liability;
• Selected endorsements (included and optional), commercial crime coverages, safe depository, robbery and burglary, guests’ property, securities, and identity theft;
• Inland and ocean marine, commercial inland marine, nationwide definition, conditions, insurance under two or more policies, loss payment, loss to pair and set, filed and non-filed forms, specific coverages and forms, exclusions, bailee’s customer coverage, commercial articles floaters, contractor’s equipment, installation floaters, electronic data processing concerns and coverage, and equipment breakdown;
• Farm coverages, farm property forms, causes of loss, coverages A through G, coinsurance, conditions and coverage extensions, replacement cost versus actual cash value settlements, and farm liability coverage.

This updated course includes many illustrations and examples to aid in learning and retention, and goes beyond the basic information needed for licensees. The course will introduce the candidate to terms, definitions and concepts that are not just the foundation of P&C insurance, but are intended to accelerate and amplify the student’s knowledge.

To receive a certificate of completion for this 8-hour course, a 45-question final exam must be successfully passed.

VA Bureau of Insurance Course ID: 229588

Approved By: Virginia SCC - Bureau of Insurance

Course Format: Text

Credit Type: Ethics, Property & Casualty

Course ID(s): 229588

Approved By: Bureau of Insurance