This course explains how insurers comply with state-mandated good faith claims settlement practices regulations. The course explains the regulations, what they impose on the insurer and how the insurer will fulfill the regulations.
The course explains the following:
- All of the Good Faith Claims Settlement Practices Regulations.
- The California Regulations are a model for settlement practices regulations across the country.
- The Regulations were created to assist insurers to understand the minimum claims handling conduct to conform to the Fair Claims Settlement Practices.
- The Regulations were designed to punish an insurer who failed to treat an insured with good faith and fair dealing.
- The regulations do not provide an exclusive definition of all unfair claims settlement practices.
- The meaning and practice of a claims investigation.
- How policy terms and conditions are explained to an insured after a loss.
- The duties imposed on claims personnel.
- Standards for Prompt, Fair and Equitable Settlements of various types of insurance.
- Whether the State Department of Insurance has the power to change the meaning of a statute.
Learning Objectives
- Recognize what a good faith settlement practice is.
- Explore why Fair Claims Settlement Practices Regulations are required.
- Identify what is necessary to conduct a thorough and fair claims settlement practice.
- Explore what is needed to conduct a thorough investigation.
- Explore the statue against unfair claims settlement practices.
- Explore the training required to explain the regulations to each claims person.
Last updated/reviewed: March 25, 2024
Included In Certifications
This course is included in the following Certification Programs:
16 CoursesCorporate Property Insurance Certification
- Introduction: Excellence in Claims Handling
- How to Acquire a First-Party Property Insurance Policy
- How to Read and Understand an Insurance Policy
- The Necessity of an Honest and Complete Insurance Application
- The Basics of the Law of Contracts for the Insurance Professional
- Ethics for the Insurance Professional
- What is the Problem with Fraud?
- Interviewing Techniques for the Insurance Professional
- Investigation of a First-Party Property Insurance Claim
- The Creation of a Scope, Statement, and Proof of Loss
- The Duties of an Insured Presenting a First-Party Property Claim
- The Insurance Examination under Oath (EUO)
- Insurance Fraud Prevention
- Compliance with Special Investigation Unit Regulations
- Compliance with Good Faith Settlement Practices Regulations
- The Obligations of a Public Insurance Adjuster
15 CoursesCorporate Liability Insurance Certification
- Corporate Liability Insurance: Excellence in Claims Handling
- How to Acquire a Policy of Third Party Liability Insurance
- How to Read and Understand a Liability Insurance Policy
- The Necessity For An Honest And Complete Application For Insurance
- The Basics of the Law of Contracts for the Insurance Professional
- The Law of Torts
- Ethics for the Corporate Liability Insurance Professional
- The Covenant of Good Faith and Fair Dealing
- Interviewing Techniques For The Corporate Liability Insurance Professional
- Corporate Liability Insurance Fraud Prevention
- Corporate Liability Insurance: Rescission - An Equitable Remedy
- The Duties Of An Insured Presenting A Third Party Bodily Injury and Property Damage Claim
- The Statement And the Investigation of Third Party Liability Insurance Claim
- Compliance with Good Faith Settlement Practices Regulations
- Corporate Liability Insurance: Millions For Defense Not A Dime For Tribute
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Prerequisites
Course Complexity: Intermediate
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Barry ZalmaConsultant and Expert Witness