I. Principles of Insurance -- 1 Hour
A. Definition of risk
B. Risk management
C. Insurable and noninsurable risk
D. Pooling concept--law of large numbers
E. Types of insurance companies
F. Reinsurance
II. General Wisconsin Insurance Laws -- 4 Hours
A. Duties and powers of Insurance Commissioner--statutory and rule-making
B. Knowledge of administrative action process, including hearings and penalties
C. Purpose of licensing, including procedures and who must be licensed
D. Record keeping and changes in agent status, including change of name or address
E. Agent license expiration, revocation, suspension, and limitation
F. General regulations regarding misrepresentation, knowledge of acts of agent, rebating
G. Regulation of specific insurance contract changes regarding cancellation, nonrenewal, notice of proof of loss, and payment of claims
H. Unfair claims methods and practices--timely payment of claims
I. Fair rating practices
J. Home and telephone solicitation requirements
K.
Section
628.32, Wis. Stat., written disclosure of fees other than commissions
L. Controlled business
M. Proper exchange of business
N. Unfair marketing practices
1. Misrepresentation
2. Unfair inducement
3. Unfair discrimination
4. Extra charges
5. Influencing employers
6. Unfair use of official position
7. Returning indicia of agency
8. Churning
9. Twisting
10. Restraint of competition
11. Unfair restriction of contracting parties choice of insurer
O. Insurance contracts in Wisconsin
III. Ethics -- 3 Hours
A. Fiduciary duties, and responsibilities
B. Conflict of interest
C. Ethical marketing practices, including fair and ethical treatment of policyholders
D. Appropriate claims practices
E. Suitability of product to client
F. Social responsibility of insurance agent
G. Agent/company relationships
H. Maintaining appropriate insurance expertise
SECTION B
IV. Terms, Concepts and Policies -- 10 Hours
A. Insurance terms and related concepts
1. Risks
2. Hazards
3. Indemnity
4. Insurable interest
5. Actual cash value
6. Negligence
a. Contributory
b. Comparative
7. Liability
8. Accident
9. Occurrence
10. Burglary
11. Robbery
12. Theft
13. Mysterious disappearance
14. Fidelity (employe dishonesty)
15. Warranties
16. Representations
17. Concealment
18. Bodily injury liability
19. Property damage liability
20. Personal injury liability
21. Limits of liability
22. Deductibles
23. Incidental contracts
24. Binders
25. Custodian
26. Messenger
27. Guard or watchperson
B. Policy provisions
1. Declarations
2. Insuring agreement
3. Conditions
4. Exclusions
5. Definition of the insured
6. Duties of the insured
7. Cancellation and nonrenewal provisions
8. Supplementary payment (additional coverages)
9. Proof of loss
10. Notice of claim
11. Arbitration
12. Pro rata liability (other insurance)
13. Subrogation
