General Insurance Concepts 0 credits Take this Course Course Content Expand All | Collapse All Lessons Status 1 Definitions Common Insurance Terms Loss and Risk Types of Risk Hazard Exposure and Peril 2 Elements of Insurable Risks Due to Chance Definite and Measurable Statistically Predictable Not Catastrophic Large, Diverse Pool of Risks 3 Methods of Handling Risk Handling Risk Risk Sharing Risk Transfer Risk Avoidance Risk Reduction Risk Retention 4 Classifications of Insurers Ownership Authorization Domicile Reinsurance Types of Reinsurance 5 Elements of a Contract Consideration Competent Parties Legal Purpose Agreement Aleatory 6 Authority and Powers of Producers Law of Agency Producer Authority 7 Legal Interpretations Affecting Contracts Reasonable Expectations Indemnity Warranties and Representations Good Faith Fraud
