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Chapter Ins 26
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
      1.   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
IV.   Terms, Concepts, and Policies -- 10 Hours
  A.   Insurance terms and related concepts
    1.   Insurance
    2.   Insurable interest
    3.   Hazard
      a.   Physical
      b.   Moral
      c.   Morale
    4.   Peril (causes of loss)
      a.   Specified (named) perils
        (1)   Standard fire
        (2)   Extended coverage
        (3)   Broad form
      b.   Open perils (all physical loss)
    5.   Loss
      a.   Direct
      b.   Indirect
    6.   Proximate cause
    7.   Deductible
    8.   Principle of Indemnity
    9.   Actual cash value
    10.   Replacement cost
    11.   Limits of liability
    12.   Coinsurance
    13.   Pair and set clause
    14.   Extensions of coverage
    15.   Additional coverages
    16.   Accident
    17.   Occurrence
    18.   Cancellation
    19.   Nonrenewal
    20.   Vacancy and unoccupancy
    21.   Right of salvage
    22.   Abandonment
    23.   Liability
    24.   Negligence
  B.   Policy provisions and contract law
    1.   Parts of a policy
      a.   Declarations
      b.   Insuring agreement
      c.   Conditions
      d.   Exclusions
Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.