| CODE | INS3503 | ||||||
| TITLE | Property and Liability Insurance | ||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||
| MQF LEVEL | 6 | ||||||
| ECTS CREDITS | 6 | ||||||
| DEPARTMENT | Insurance and Risk Management | ||||||
| DESCRIPTION | This study-unit will provide the students with product-based information of a variety of commercial lines insurance policies particularly property and liability insurance products. The study-unit will cover features of policy cover, exclusions, extensions and other related terms and conditions. A brief overview of general underwriting and claims processes will also feature. The following will be the classes tackled: - Fire and special perils and All Risks insurance; - Theft and Money Insurance; - Goods in transit and glass insurance; - Engineering insurance; - Contractors' all risks insurance; - Business interruption insurance; - Employers鈥� liability; - Public liability; - Products liability; - Professional indemnity; - Directors鈥� and Officers鈥� liability; - Fidelity Guarantee and Credit insurance. Study-Unit Aims: The aim of this study-unit is to provide students with a general understanding of the policy aspects of the following commercial lines products: - Fire and special perils and All Risks insurance; - Theft and Money Insurance; - Goods in transit and glass insurance; - Engineering insurance; - Contractors' all risks insurance; - The nature of liability; - Employers鈥� liability; - Public liability; - Products liability; - Professional indemnity; - Directors鈥� and Officers鈥� liability. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: a) obtain a general knowledge of Commercial Lines Insurance products and services which include products such as: - Fire and special perils and All Risks insurance; - Theft and Money Insurance; - Goods in transit and glass insurance; - Engineering insurance; - Contractors' all risks insurance; - various classes of liability insurance. b) obtain a general knowledge of how Commercial lines protect businesses against potentially devastating financial losses caused by accidents, lawsuits, natural disasters and other adverse events; c) obtain a general knowledge of the coverage available and premium costs and how they vary by business type, size, and location. 2. Skills: By the end of the study-unit the student will be able to: - read and interpret different commercial lines insurance policies; - explain the various wording, terms and provisions of property policies; - provide explanation of the intention of the various sections of cover and exclusions. Main Text/s and any supplementary readings: Main Texts: - Commercial Insurance - The Chartered Insurance Institute (2016). Supplementary Readings: - Fire Insurance Theory and Practice by Edwin Gamlen and Harold Francis. - Principles of Property Insurances 鈥� The Chartered Insurance Institute. - Property Insurance by P. Wildman (P25) 鈥� The Chartered Insurance Institute. - Business Interruption Insurance by R.M. Walmsley (P30) 鈥� The Chartered Insurance Institute. - Employers Liability at Common Law John Munkman Butterworths 1979. - Introduction to English Law (12th edition) Philip S James Butterworths 1989. - Product Liability Alistair M Clark London Sweet & Maxwell 1979. - Professional Indemnity 鈥� It鈥檚 Applicability to the Accountancy Profession. |
||||||
| STUDY-UNIT TYPE | Lecture | ||||||
| METHOD OF ASSESSMENT |
|
||||||
| LECTURER/S | Joe Avellino Andre Farrugia (Co-ord.) Ramon Mizzi |
||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
|||||||