The Certificate in Insurance is a core qualification for staff working across all sectors of insurance. This Certificate develops core knowledge of the key disciplines needed through covering basic general insurance principles including the regulatory environment, key disciplines of underwriting and claims, in addition to popular insurance products. Motor insurance products (IF5) counts towards achieving the Certificate in Insurance, which provides participant with the knowledge and understanding of the practices and procedures connected with private motor, motorcycle and commercial motor insurance, with reference to applicable legal and regulatory considerations.
At the end of the training program, the participant should be able to:
1 Principal differences in the transaction of private motor insurances
1 Principles contained within the transaction of private motor insurances to a given set of circumstances.
2 Principles contained within the role and function of the motor Insurers’ Bureau to a given set of circumstances.
1 Core cover provided under different motor insurances
2 Additional non-insurance benefits available under private and commercial motor insurance policies
1 Principles contained within the scope of cover provided by motor insurance products to a given set of circumstances
1 Relevant parts of the road traffic Act 1988 as amended by the road traffic Act 1991
2 Provisions of the road traffic Act 1988-part VI, relating to third party liabilities
3 Provisions of EU directives applicable to motor insurance
4 Effect on motor insurance of relevant legislation and regulatory considerations
5 Legal position of employees using their own and their employers’ motor vehicles in the conduct of company business
6 Law relating to the use of vehicles outside the UK
7 Describe which vehicles are exempt from compulsory insurance under the Road Traffic Act 1991 and in what circumstances
8 The scope and general effect of the insurance: conduct of business sourcebook (ICOBS) as it relates to the administration of motor insurance
1 Apply the legal and regulatory principles for motor insurance to a given set of circumstances
1 Content, use and legal significance of proposal forms and statements of facts in the transaction of motor insurance as they apply to both consumer insurance contracts and commercial insurance contracts.
2 General principles of rating and underwriting individual risks in motor insurance
3 Rating and underwriting considerations for different motor vehicles
4 Content of and legal requirements relating to the cover note and the certificate of motor insurance
5 Construction of private and commercial insurance policies
6 Use of no claim discounts and the distinctions between standard, protected and guaranteed discounts
7 Operation of a typical renewal system for private and commercial motor insurance.
8 Frequency of renewal and its significance to continuity of cover
9 Renewal documentation and renewal terms specific to motor insurance
1 Apply the principles contained within risk assessment, rating and underwriting for motor insurance to a given set of circumstances
1 considerations in the transaction of motor insurance products
2 Fraud prevention and detection measures and their operation
3 Role of the financial ombudsman service and the financial services compensation scheme
1 Apply the principles of claims procedures for motor insurance to a given set of circumstances.
1 Explain the implications of IT development for the motor insurance market
1 Apply the principles of information and communication technology as this relates to motor insurance to a given set of circumstances
Pass the Professional Exam in Insurance Foundations
Pass the Professional Exam in Insurance Foundations
Pass the Certificate Exam in Insurance, Legal and Regulatory (IF1)
Pass the Certificate Exam in Insurance, Legal and Regulatory (IF1)
Names of the training programs that are integrated (enriched) with the training program:
Names of the training programs that after the training program:
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