Please enter the email address for the person you are registering.
Attention: This course is not approved for State reported continuing education credits.
Do you want to add yourself in waitlist for this event?
Already registered
You can not register same event with in 30 days.
Designated participants are only allowed to register for this course.
This Online MEGA is allowed only for CIC, CRM and CPRM Dues Paid designees.
To earn designation update credit in this course, you MUST have paid your annual dues. Please click the link to Pay your Dues
Letter of Good Standing Request
Please enter details below to verify the request.
Please enter details below to verify CE Request.
Yes
No
In the case of multiple licenses, please enter your resident state license information as CE credit will only be processed for one state. Modifications to your CE request may be made up until the last day of the course through the My Courses tab in your PROfile. Certain states have rules regarding repetition of courses, please review those requirements prior to requesting CE credits.
The State of Nevada has only approved this course for 3 credits of Property & Casualty and 3 credits of Ethics.
IMPORTANT: If you have previously taken this course it is imperative that you review the repetition rules established by your State Department of Insurance as some states do not allow a course to be repeated within a certain period of time.
Request saved successfully!
Please wait...
OVERVIEW AND TOPICS
Main Street America's Property Coverage Traps & Dilemmas
How do insurance professionals appropriately insure Main Street America’s real property with 100+ year-old buildings that are purchased for a few hundred thousand dollars and have a multi-million-dollar replacement cost estimator? In this session, participants discuss the built-in moral hazard and contemplate the appropriate property coverage form choice (Replacement Cost, Functional Replacement Cost, Actual Cash Value) and its effect on the insured’s exposures and viability of their business. Using 4 catastrophic losses in a 4-year period, they will examine the reasons why insurance professionals must insure to the catastrophic loss exposure and not be lulled to sleep by satisfactory partial loss settlements.
Main Street America's Ancillary Property Coverages and Catastrophic Loss
What are the hidden issues of insuring 100+ year-old buildings bought for a fraction of what it would take to rebuild them? These buildings are often bought and insured by small business enterprises as a home to their business model and give little thought to the ramifications of sharing walls with their neighbors and the effect of their insurance choices (especially Replacement Cost vs Actual Cash Value) on their livelihood and business viability. Using 4 catastrophic losses in 4 years, participants will examine catastrophic preparedness and ancillary issues, such as: shared walls, OSHA involvement, line of sight, contractors, and weather after the weather event. They will discuss ancillary coverage considerations with debris removal, business income extra expense, ordinance and law, and more.
Ethics You Can Use
Participants will examine the professional, legal, and ethical responsibilities in dealing with the day-to-day realities of the complex, ethical issues of the insurance industry. They will compare and be able to explain the difference between legal and ethical responsibilities and discuss the foundations of ethical behavior. They will review court cases dealing with the agent as a “professional” along with the agent’s duty to the customer, insurer, and peers. Using a series of case scenarios, they will be able to identify what constitutes an ethical dilemma and apply the ethical principles discussed in this session to determine the right course of action.
Succession/Perpetuation Planning for the Small Agency
Participants will learn the importance of business perpetuation planning for a small agency and how to protect the value of their businesses. By developing a workable succession/perpetuation plan, unique to their insurance agency, devastating results can be avoided, and the value of the agency maximized. Participants will identify the signs of a successful agency both financially and operationally. They will better understand why a perpetuation plan is critical to the success and survival of the agency and why the plan is important even to customers. They will examine the issues such as: objectives that influence the structure of the plan, triggering events for the plan, valuation of the agency using multiple techniques, tax issues, and funding options. Using a real-life example, they will discuss ways to tailor the succession/perpetuation plan to their specific needs and circumstances.
You've Been Served - What To Expect When You Are Sued
Using a hypothetical insurance case study, participants will gain an understanding of the stages of the investigation and litigation including the importance of the insured’s participation in the process. Key policy terms that provide the insurance carrier with tools to successfully investigate and defend lawsuits against insureds will be examined and discussed.
