||INTRODUCTION TO PROPERTY AND LIABILITY INSURANCE
Course Section Information
Institution: Rio Salado College
Term: Fall 2014
Be sure that you have all the necessary materials prior to the start date of your course.
Title: Property and Liability Insurance Principles
Title: Property and Liability Insurance Principles - Course Guide
Your course materials are available through the Rio Salado College Bookstore. All materials should be verified by ISBN before purchasing at the Rio Salado Bookstore or from another seller.
Course Description and Competencies
|Official Course Description
|Basic principles of insurance. Introduction to insurance contracts. Overview of company functions and operations including ratemaking, underwriting, claims, adjusting, and marketing.
|Official Course Prerequisites
|Official Course Competencies
- Describe the basic elements of the insurance industry.
- List the social costs and benefits of the insurance industry to our society.
- List the four major types of insurance.
- Identify the various types of property subject to loss.
- Evaluate the monetary value of potential loss.
- Analyze liability loss exposures in terms of damages.
- Explain the liability adjustment process from time of claim to time of settlement.
- List the parts of an insurance policy.
- Evaluate property loss situations.
- Describe covered property losses.
- Define liability policy coverage provisions.
- List the various types of insurance producers.
- Describe the major types of insurance providers.
- Identify the factors of insurance company profitability.
- Describe the method of regulating the insurance industry.
- Explain how the insurance product is marketed.
- Describe the underwriting and claims functions in terms of their impact on profitability.
- Analyze the risk management process.
Failure to successfully submit the first two assignments by the due dates listed may result in the student being withdrawn from the course for lack of active participation.
- You must complete all course assessments listed in your online gradebook to be eligible for a passing grade. Check the link on the Course Homepage for due dates.
- You are allowed to submit your assignments, including quizzes, only one time unless you have permission from your instructor to resubmit an assignment.
- You are expected to write at a college level. Use the grading matrix (if applicable) to see how your assignments will be evaluated. Edit your work carefully before submitting it to your instructor.
- Keep a copy of all assignments that you submit.
- Contact your instructor if you have any questions while you are enrolled in the course.
- Assignments must be submitted by the specified due date. If you find that you need an extension on an assignment, contact your instructor before the scheduled due date. Individual instructors will determine whether or not to grant the extension. If you do not apply for an extension, or an extension is not granted, your instructor will decide whether or not to accept the work and if points will be deducted.
- Each student must submit his or her own original work, as outlined in the plagiarism section in the syllabus. Plagiarism can include, but is not limited to:
- submitting work that is not your own
- submitting work that is copied directly from another source such as another student, a Web site, or a print source without proper citation
- submitting work that is paraphrased or summarized from another source without proper citation.
- Assignments must include information summarized in your own words and personal examples in addition to quoted information from properly cited sources.
- You must earn an average of 60% or higher on the exam(s) and/or Midterm/Final Project(s) in order to be eligible to pass the course.
Remember that this is a three credit-hour class. As such, you will need to dedicate significant time to this course. Plan to spend at least three hours on course content and at least six hours on homework for a total of at least nine hours each week. Be prepared to double your weekly class and study time if you choose an accelerated calendar.
Grading Procedure and Scale
|There are 400 possible points for this course
|Short Answer Essays
|Final Exam and Essays
Letter grades for assignments, examinations, and the course will be determined by the following scale:
|360 - 400 points
||A (90% - 100%)
|320 - 359 points
||B (80% - 89%)
|280 - 319 points
||C (70% - 79%)
|240 - 279 points
||D (60% - 69%)
|0 - 239 points
||F (0% - 59%)
The grading procedure for this course is based on the total number of points possible and is administered equally to all students in the course. Do not expect to receive a grade higher than you earn by your total points. No point adjustments will be made for such things as class participation or other subjective factors.
Assignments will be graded on content, incorporation of course and text concepts, and quality of writing. Although this is not a writing course, college-level writing is expected. Essays should be properly formatted and spell-checked; and reviewed for grammar, word usage, and sentence constructions before being submitted.
The following matrix describes how written assignment grades will be applied.
|No understanding to incorrect understanding
||Correct understanding with insufficient supporting rationale
||Correct understanding with sufficient supporting rationale
||Correct understanding with excellent supporting rationale
|Critical Thinking not evident – no supporting rationale
||Weak Critical Thinking – Supporting Rationale is flawed
||Solid Critical Thinking – Logical Supporting Rationale
||Excellent Critical Thinking – Excellent Supporting Rationale
Key Concepts and Terms
|Key Course Concepts and Terms Not Used, or Used Incorrectly
||Key Course Concepts and Terms Used Incorrectly or Seldom Used Correctly
||Key Course Concepts and Terms Used Sufficiently Throughout Answers
||Key Course Concepts and Terms Used Correctly and Exceptionally Well Throughout Answers
|Ineffective Introduction, Body, or Conclusion; Gross Grammar, Sentence Structure, Spelling, or Punctuation Errors
||Appropriate Introduction, Body, and Conclusion; Frequent Grammar, Sentence Structure, Spelling, or Punctuation Errors
||Appropriate Introduction, Body, and Conclusion; Few Grammar, Sentence Structure, Spelling, or Punctuation Errors
||Excellent Introduction, Body, and Conclusion; No Grammar, Sentence Structure, Spelling, or Punctuation Errors
Per the Course Requirements, you must earn an average of 60% or higher on the Final Exam and Final Essay in order to be eligible to pass the course.
There are no in-person exam requirements for this course. However, there is one on-line/take-home exam. Please review the "Grading Procedure and Scale" portion of your syllabus for details. Your course materials may give specific information about these exams and make suggestions for test preparation.
Check your Gradebook for specific due dates for these exams.
Final Grade Options
- Letter grade (A, B, C, D, F) - awarded if the student completes all work, including any exams.
- Extension (in lieu of Incomplete grade) - Students may request an extension because of illness or other extenuating circumstances, if they have been doing acceptable work. The instructor will define the requirements and timelines to complete the course. Please Note: Instructors are not obligated to give extensions.
- Withdrawal-Students may submit a withdrawal request on or prior to the “Last Date to Withdraw” indicated in their RioLearn Gradebook.
Students should not contact their instructor to request a withdrawal. A student wishing to withdraw from a class within the stated timeline must do so by visiting my.maricopa.edu. In extreme circumstances, students do have the option of requesting a complete withdrawal from the college by providing Student Enrollment Services with appropriate documentation.
- Credit/No Credit Option (P/Z) - This course may be taken on a credit/no credit basis. If interested, See detailed information about the (P/Z) option.
Hints for Success
Insurance is a unique and fascinating segment of the global economy. People from around the world spend literally billions of dollars to insure everything from a small house to a multi-million-dollar building. Helping you understand how the industry operates is the goal of this course.
GBS 258 serves as an introductory course to insurance. It defines basic terminology that is used and provides the student with an explanation of how insurance is marketed, underwritten, and, if a loss does occur, how the claim is handled.
The best way to succeed in this course is to begin each assignment by reviewing the Course Guide, a required book for GBS 258. For each assignment, the Course Guide will list the chapter to be read, provide an overview of the material to be covered, and list the educational objectives for the reading. In addition, the Course Guide contains a number of important terms and phrases that the student should review during the reading. Finally, each assignment has a number of review and discussion questions to help you master the material presented. Throughout the "semester," the Course Guide can be your best friend!
Education for members of the insurance business is critical as the number of more and more complex risks increases. Part of the continuing education process involves the awarding of professional designations that are recognized throughout the industry. The Institutes, located in Malvern, PA, has been a leader in insurance education since its inception in 1926. The staff at The Institutes is responsible for developing the curriculum and study materials for GBS 258 and two other insurance courses offered by Rio Salado Community College. In addition, they also award the Program in General Insurance designation (AINS).
To receive the designation, students must pass three multiple-choice national examinations as well as a free online ethic classes offered by The Institutes and the three technical courses required for designation are offered by Rio Salado College. The courses are:
Introduction to Property and Liability Insurance (GBS 258)
Personal Insurance (GBS 263)
Commercial Insurance (GBS 264)
The Institutes refer to these courses as AINS 21, AINS 22, and AINS 23 respectively. What does this mean to you? With a little extra time and effort, you can register and sit for the national exam and work on a professional designation as well as a college degree.
Interested? Contact your instructor, The Institutes at 800-644-2101, or go to www.theinstitutes.org for additional information.
The following items are copyrighted and have been reproduced in this online course, through special permission granted by the rights holders, with all rights reserved. In the event copyright permission has not yet been granted, the Fair Use statement below applies.
Fair Use statement: Items are made available under the Fair Use Statute, Section 107 of the Copyright Act of 1976. The material is made available solely for the use of registered students in this class and may not be further distributed to any person outside the class, whether by copying or by transmission in electronic or paper form.
Some images used in courses are licensed as follows: Accunet/AP Multimedia Archive, http://www.clipart.com, http://www.jupiterimages.com, EBSCO Image Collection.
Your lessons will provide specific instructions for submitting your assignments. Please read that information carefully before you submit your work to your instructor.
All assignments are listed under the “Readings, Resources, and Assignments” and in the “Assessing Your Learning” sections of the lesson. All lessons can be accessed from the Course Section Home Page.
Quizzes: You are expected to complete the quiz once you access the link in the lesson.
Essay Assignments: Once you begin, be sure to save your work frequently and submit your work within 7 days of accessing the submittal link.
Midterm or Final Exams/Projects: Once you begin, be sure to save your work frequently and submit your work within 7 days of accessing the submittal link unless your exam has a time limitation noted in the lesson.
For all assignments, please make sure you have answered all questions prior to clicking the Submit button. Once submitted, you will not be able to access the assessment again.
Note: Please keep a copy of everything your submit.
Late or Missing Assignments
Assignments that have due dates are due on time according to the due dates in your Gradebook. If you need to request an extension for an assignment, a request must be made to your instructor via Riolearn at least one week prior to the due date. You can request a due date change on the Due Dates tab in Gradebook.
Late points may be applied at the instructor's discretion. Instructors are not obligated to approve extension requests and will typically do so only if the student has been submitting work on time and in the appropriate format.
Course Completion Policy
A student who registers for a Distance Learning course is assigned a "start date" and an "end date." It is the student's responsibility to note due dates for assignments and to keep up with the course work.
If a student falls behind, she/he must contact the instructor and request an extension of her/his end date in order to complete the course.
It is the prerogative of the instructor to decide whether or not to grant the request for an extension.
The Rio Salado Library is committed to student success and provides a variety of materials and services to enhance student learning. Utilizing Rio’s online library for your research is the best way to ensure that your sources are validated, authoritative, and appropriate for college-level coursework. Librarians are available to help you at all times via our Ask a Librarian live chat service. Also, the How Do I..? Streaming Video Series provides instruction on how to use the online library to find books, articles, ebooks, streaming films, and more.
Please note that when library materials (e.g., articles, ebooks, and streaming media) are integrated into your lesson content, you will see the notation “…provided to you through the Rio Salado Library.”
Academic Misconduct includes cheating, conspiring to cheat, soliciting to cheat, attempting to cheat, plagiarism, fabrication on an assignment, or other forms of dishonest presentation.
Posting assessments on an unauthorized web site, soliciting assessment answers and the unauthorized acquisition of assessments, assessment answers, or other academic material is cheating.
Plagiarism includes, but is not limited to, the use of paraphrase or direct quotation of the published or unpublished work of another person without full and clear acknowledgment. It also includes the unacknowledged use of materials prepared by another person or agency engaged in the selling or sharing of term papers or other academic materials. Information gathered from the Internet and not properly identified is also considered plagiarism.
We expect every student to produce his/her original, independent work. Any student whose work indicates a violation of the MCCCD Academic Misconduct Policy (including cheating and plagiarism) can expect sanctions as specified in the college catalog.
Rio Salado College uses software that uncovers plagiarism from student to student and other data sources on the Internet. If a student is found to have plagiarized content, grade consequences will be applied in accordance with departmental policies.
The faculty of Rio Salado place a high value on the importance of general ethical standards of academic behavior and expect that communication between students and instructors or among students shall maintain the level of formality and mutual respect appropriate to any college teaching/learning situation.
Language or behavior that is rude, abusive, profane, disruptive, or threatening will not be tolerated. Activity of this type is Academic Misconduct as defined in MCCCD Policy AR 2.3.11. Students engaging in such behavior will be removed from the course with a failing grade. Additional sanctions may be applied pursuant to AR 2.3.11.
Requirement for Active Class Participation
Please note that students may be withdrawn from class for non-participation.
If you receive financial aid of any kind, it is your responsibility to protect your eligibility to receive financial aid by meeting the active participation requirements of this class.
Change of Address
Please notify Course Support at (480) 517-8243 or 1-800-729-1197 or by email at firstname.lastname@example.org. Please include your name, student number, phone number, and new address including city, state, and zip code.
Rio Salado provides reasonable accommodations for students with documented disabilities. Please contact Disability Services at (480) 517-8562 or email@example.com.
Course content may vary from this outline to meet the needs of this particular group.
Rio Salado College Copyright
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