Course Offering On Terrorism Impact
NU Online News Service, July 17, 9:32 a.m. EST?A continuing education course on insurance issues related to terrorism is being offered to Insurance Brokers and Agents of the West membership, it was announced.
The Insurance Skills Center of Huntington Beach, Calif., which will conduct the course offerings, said they will be good for credit in four western states.
The Center noted that the Sept. 11 attacks were the most expensive loss in the history of the insurance industry, with 100 insurers around the globe expected to pay an estimated $40 billion or more in the course of settling claims.
IAB of the West said the ISC "Terrorism and Insurance" course should give agents and brokers more understanding about the implications of 9/11.
ISC said it has filed with the departments of insurance in California, Nevada, Oregon and Washington state for the course to receive four continuing education credits. Approval for credit has been received from California and Washington and is pending in the other states.
ISC said the courses would briefly explore the issues related to terrorism, war risk and hostile acts from a historical perspective. Participants will look at the coverage and exclusions as they have emerged in the various markets of insurance and reinsurance: marine, aviation, transit, property, liability, life, health and accident insurance.
A discussion on issues such as adding terrorism to CAT plans and recent federal and state legislation is also planned.
ISC said that with the current market for terrorism insurance covering commercial properties in a state of flux, instructors would introduce various perspectives from some leading re-insurers regarding their thoughts and solutions.
The class will conclude, ISC said, with an overview of current underwriting philosophies and risk management procedures, and will demonstrate how those areas of loss control and risk transfer are changing.
Courses are planned to begin in four locations:
? July 19: Bellevue, Wash.
? Aug 8: West Los Angeles, Calif.
? Dec. 10: San Francisco.
? Dec. 12: Diamond Bar, Calif.
A companion class on "Construction Defect Issues" is also being offered.
More information is available at www.insuranceskillscenter.com.
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