Continuing Education

September 9th

MORNING COURSE: Ethics in the Insurance Business (1029714)
continental breakfast included
Time: 8am-12pm
Ethics Credits: MN – 4, WI – 4
Description: This course explains the ethics involved in key insurance business responsibilities. It begins by defining ethics, differentiating between ethics and law, describing prevalent business ethical theory constructs and decision-making tools, and providing an ethical decision-making model. The course then considers the ethical qualities needed to support consistent suitable insurance transactions. It provides examples of unsuitable transactions in all lines and provides exercises for determining how suitability ethics were violated in the examples and how such violations may be avoided. Next, the course tackles the important area of client interest and representation. It considers captive and independent producers and insurance brokers. It lists potential dilemmas that arise based on insurance representation role and demonstrates how these may be addressed through the use of ethics codes and standards. Ethics discovered through examinations and audits is the next topic. The course provides key ethical duties of licensees when examined and provides an exercise to evaluate ethics involved in getting a positive or a negative examination rating. Also included is a comprehensive explanation of the ethical duties owed to the stakeholders in the licensee’s insurance business, including ethical duties to the insurer, clients, business partners, family, and the community. The course concludes with a case study that applies the ethical decision-making model to a conflict of interest situation in the commercial property arena.

LUNCH: Catered by Kitchi Gammi Club

included with purchase of course

AFTERNOON COURSE: Errors & Omissions: Specialized Protection for Entities (1030938)
snacks and beverages included
Time: 1pm-5pm
General Credits: MN – 4, WI – 4
Description: This course provides a thorough exploration of errors and omissions coverage with a special emphasis on E&O for an entity, such as a managed care organization. It describes the components and coverages of E&O policies, and relays the importance of E&O provisions, such as the definition of insured, the definitions of services and activities of the entity, the descriptions of wrongful acts and tailored E&O provisions for various industries. The considerations related to consent to settle options, extended reporting period options, prior acts coverages and duty to defend/no duty to defend options are reviewed. Common exclusions to coverage and the types of liability insurance that would apply to many exclusions are given. Directors and officers coverage is related insurance important to entity errors and omissions protection and is also explained in detail. Private business or entity D&O is highlighted. As an example of entity E&O, Managed Care Organization E&O is explained and its coverages and exclusions are defined and considered. The course conveys the importance of E&O, D&O and an inclusion of information privacy and security (cyber liability) coverage for entities. Case studies that analyze coverages in E&O and D&O are used to equip the student to assess E&O policies that would be appropriate for various entity types.