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:

  1. All of the Good Faith Claims Settlement Practices Regulations.
  2. The California Regulations are a model for settlement practices regulations across the country.
  3. The Regulations were created to assist insurers to understand the minimum claims handling conduct to conform to the Fair Claims Settlement Practices.
  4. The Regulations were designed to punish an insurer who failed to treat an insured with good faith and fair dealing.
  5. The regulations do not provide an exclusive definition of all unfair claims settlement practices.
  6. The meaning and practice of a claims investigation.
  7. How policy terms and conditions are explained to an insured after a loss.
  8. The duties imposed on claims personnel.
  9. Standards for Prompt, Fair and Equitable Settlements of various types of insurance.
  10. 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

  1. Introduction: Excellence in Claims Handling
  2. How to Acquire a First-Party Property Insurance Policy
  3. How to Read and Understand an Insurance Policy
  4. The Necessity of an Honest and Complete Insurance Application
  5. The Basics of the Law of Contracts for the Insurance Professional
  6. Ethics for the Insurance Professional
  7. What is the Problem with Fraud?
  8. Interviewing Techniques for the Insurance Professional
  9. Investigation of a First-Party Property Insurance Claim
  10. The Creation of a Scope, Statement, and Proof of Loss
  11. The Duties of an Insured Presenting a First-Party Property Claim
  12. The Insurance Examination under Oath (EUO)
  13. Insurance Fraud Prevention
  14. Compliance with Special Investigation Unit Regulations
  15. Compliance with Good Faith Settlement Practices Regulations
  16. The Obligations of a Public Insurance Adjuster

15 CoursesCorporate Liability Insurance Certification

  1. Corporate Liability Insurance: Excellence in Claims Handling
  2. How to Acquire a Policy of Third Party Liability Insurance
  3. How to Read and Understand a Liability Insurance Policy
  4. The Necessity For An Honest And Complete Application For Insurance
  5. The Basics of the Law of Contracts for the Insurance Professional
  6. The Law of Torts
  7. Ethics for the Corporate Liability Insurance Professional
  8. The Covenant of Good Faith and Fair Dealing
  9. Interviewing Techniques For The Corporate Liability Insurance Professional
  10. Corporate Liability Insurance Fraud Prevention
  11. Corporate Liability Insurance: Rescission - An Equitable Remedy
  12. The Duties Of An Insured Presenting A Third Party Bodily Injury and Property Damage Claim
  13. The Statement And the Investigation of Third Party Liability Insurance Claim
  14. Compliance with Good Faith Settlement Practices Regulations
  15. Corporate Liability Insurance: Millions For Defense Not A Dime For Tribute
1 Review (3 ratings)

Reviews

4
Anonymous Author
Course is helpful to understand Good Faith Settlement Practices.

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Compliance with Good Faith Settlement Practices Regulations13:38
  Sections 2695.3 - 2695.59:55
  Sections 2695.6 & 2695.78:42
  Section 2695.7 Standards for Prompt, Fair and Equitable Settlements9:11
  Section 2695.8 Additional Standards Applicable to Automobile Insurance7:00
  Sections 2695.9 - 2695.11, 2695.7 (h) & 790.03 (h)13:09
  California Insurance Code Section 790.039:53
CONTINUOUS PLAY
  Compliance with Good Faith Settlement Practices Regulations1:11:30
SUPPORTING MATERIALS
  Slides:Compliance with Good Faith Settlement Practices RegulationsPDF
  Compliance with Good Faith Settlement Practices Regulations GlossaryPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam