No business can operate profitably without insurance to protect it against contingent or unknown catastrophic losses. By spreading the risk among many businesses, insurers can charge reasonable sums to protect against losses to the business or its real and personal property.

In this course an internationally recognized insurance coverage lawyer, author, consultant and expert witness explains why and how insurance policies provide protection for your business. A business person with the ability to read and understand the insurance policies they acquire has an advantage over every other business person who cannot read and understand a such policies.

Learning Objectives
  • Explore the intricacies of insurance contract formation.
  • Explore the meaning of each portion of the insurance policy.
  • Identify each coverage available to your business.
  • Discover how insurers negotiate the terms of a policy.
  • Discover the existence and availability of more favorable terms, conditions, and limitations on the insurance you acquire.
Last updated/reviewed: March 24, 2024
19 Reviews (44 ratings)

Reviews

5
Member's Profile
The course was a basic refresher on what essentially makes up a contract and the main elements contained in a standard insurance policy, especially the differences between the insurer and insured.

5
Member's Profile
The idea that policies must be written in simple language was new to me. Also, that courts follow the "contra preferendum" rule favoring the insured. Lots of good insights were provided.

5
Member's Profile
Very comprehensive and clearly laid out. I especially liked examples provided, discussion of relevant cases, and displays/walkthroughs of standard clauses in insurance contracts.

4
Anonymous Author
This overview covers all the major parts of an insurance policy. Note that this course is very basic and is geared toward someone who has no experience with insurance policies.

4
Member's Profile
Good course. Manner in which ambiguous terms are dealt was a surprise. Any person responsible for the review of insurance contracts should take this course.

5
Member's Profile
Course takes the anxiety out of reading and understanding an insurance policy. this was really helpful

4
Anonymous Author
A very well thought out basic review. Hopefully there are plans for an intermediate level course.

4
Member's Profile
High level overview. I would have liked to have him go into each time of policy a bit more.

5
Anonymous Author
The presentation was easy to understand and a good basic overview.

5
Anonymous Author
Good reminder on limitations, warranties and representations.

3
Anonymous Author
Video instruction was dry, making it difficult to keep focus.

5
Anonymous Author
He spoke very slowly and was much easier to listen to at 1.5x

5
Member's Profile
Good legal background about insurance policies as contracts.

5
Anonymous Author
Great course to wrap my head around insurance policies!

5
Anonymous Author
This course increased my understanding of insurance.

4
Member's Profile
Good review of insurance contracts

4
Anonymous Author
Good basic course, very slow

4
Member's Profile
Solid introductory course.

5
Anonymous Author
Good basic information.

Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

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
  The Need for Insurance4:37
CONTRACT
  The Contract7:22
  The Insurance Contract15:44
First Party Property Insurance
  The First Party Property Insurance Policy7:39
  The First Party Property Insurance Policy Cont.13:19
Reading The Policy & Additional Insurance
  Reading The Policy8:16
  The Standard Fire Policy 8:28
  The Business Owners' Policy3:52
Continuous Play
  How To Read & Understand Typical Business Insurance Policies1:10:15
SUPPORTING MATERIALS
  Slides: How To Read & Understand An Insurance PolicyPDF
  How To Read & Understand An Insurance Policy Glossary/IndexPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam