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. Insurance
2. Risks
3. Peril (causes of loss)
a. Specified (named) perils
(1) Standard fire
(2) Extended coverage
(3) Broad form
b. Open perils (all physical loss)
4. Hazards
5. Loss
a. Direct
b. Indirect
6. Accident
7. Occurrence
8. Indemnity
9. Insurable interest
10. Actual cash value
11. Deductible
12. Limits of liability
13. Replacement cost
14. Negligence
a. Contributory
b. Comparative
15. Proximate cause
16. Warranties
17. Representations
18. Concealment
19. Liability
20. Bodily injury liability
21. Property damage liability
22. Personal injury liability
23. Incidental contracts
24. Binders
25. Coinsurance
26. Pair and set clause
27. Extensions of coverage
28. Additional coverages
29. Cancellation
30. Nonrenewal
31. Vacancy and unoccupancy
32. Right of salvage
33. Abandonment
34. Negligence
B. Policy provisions
1. Elements of a contract
2. Declarations
3. Insuring agreement
4. Sources of insurability information
5. Conditions
6. Exclusions
7. Limitations
8. Warranties, representations, and concealment
a. Warranty
b. Affirmative
9. Promissory
10. Breach of warranty
11. Concealment
12. Binders
13. Definition of the insured
14. Duties of the insured
15. Obligations of the insurance company
16. Mortgagee rights
17. Cancellation and nonrenewal provisions
18. Supplementary payment (additional coverages)
19. Proof of loss
20. Notice of claim
21. Appraisal
22. Assignment
23. Arbitration
24. Pro rata liability (other insurance)
