Description

The course will provide information for insurance professionals about the differences in various valuation methods used in insurance policies, how to determine which approach a policy uses, and to apply each method, and the issues that can arise depending on the specifics of a claim. It will also help insurance professionals explain the valuation methods and their effects to insurance customers, policyholders, and claimants. This course covers the issues that can arise from various methods of valuing property for insurance claim purposes, including their differences and applications and how to determine which approach a policy uses. Insurance producers and claim adjusters must be able to explain to insurance applicants and policyholders how the valuation approach a policy uses can affect the amount of a claim. Topics covered include coinsurance, replacement cost, agreed value, margin clauses, actual cash value, and salvage. It is intended to meet continuing education requirements for licensed adjusters, agents and brokers. Course Outline: Module 1 - Coinsurance Module 2 - Replacement Cost Module 3 - Functional Replacement Cost Module 4 - Agreed Value Module 5 - Margin Clauses Module 6 - Actual Cash Value and Depreciation Module 7 - Salvage

Credit info