BUS 247 Commercial Insurance • 5 Cr.
Covers insurance for commercial property, business income, equipment breakdown, inland and ocean marine, commercial crime, commercial automobile and general liability, farm, and business owner's policies. Includes workers compensation and employers liability insurance. Prepares students for Certification in General Insurance through the American Institute for CPCU/Insurance Institute of America. Prerequisite: BUS 141 or equivalent experience recommended.
After completing this class, students should be able to:
- Define commercial insurance as a risk management technique, lines of business involved, and commercial insurance policies
- Explain policies providing commercial property coverage, building and personal property coverage forms, insuring fluctuating values, and blanket insurance
- Describe cause-of-loss forms, other commercial property coverage forms, endorsements, commercial conditions, and rating commercial property coverage
- Explain business income loss exposure, business income coverage forms, other forms and endorsements, and rating business income coverage
- Explain equipment breakdown insurance, agreements, limits, and conditions
- Describe characteristics and forms of commercial general liability insurance
- Define commercial automobile insurance
- Explain workers compensation and employers liability insurance and how to rate it