• C1 - The Principles of Insurance
Studying for the C1 paper will give you a thorough understanding of the principles of fair presentation, insurable interest, proximate cause, indemnity, contribution and subrogation. You will also learn the legal principles relating to the transfer of ownership of real property and goods. You will gain an understanding of claim procedures such as onus of proof and forms of discharge and learn about the operation of the insurance market, including the role of professional bodies and regulatory authorities. You will study risk, perils, moral and physical hazard and understand the law of contract, torts and their defences. You will learn pertinent legal cases and gain knowledge of legislation such as the Consumer Insurance (Disclosure & Representations) Act 2012.
• C2 - Application of the Principles of Insurance
Studying for the C2 paper will give you a thorough understanding of the adjustment of claims. You will learn about fire and security plans and reports, warranties in fire and theft policies and special perils extensions. You will study the principle of subrogation and appropriate rights of recovery, such as negligence, nuisance, trespass, contract and statutory. You also will gain an understanding of different legal entities and explore various aspects of policy cover, for example, first loss policies and average conditions. You will research the practical application of typical domestic insurance policies and learn procedures relating to the investigation of extent of loss and validation of quantum. You will also gain an understanding of arbitration, the Financial Ombudsman Service and ethical decision making.
• C3 - Adjustment of Claims
Studying for the C3 paper will further develop your understanding of adjustment of claims. You will learn about the reinstatement memorandum, day one reinstatement memorandum, public authorities’ clauses, contract price clause, professional fees clause, debris removal clauses and appreciation in value clause (escalator). You will also gain an understanding of business interruption cover, the different types of claim that can arise and methods of calculation. You will research building construction and obtain knowledge of JCT Minor Works Building Contract, CDM regulations, party wall legislation, asbestos regulations and wet/dry rot claims. You will learn about the methods and principles for calculating indemnity for items such as machinery and plant, manufacturers work in progress and stock. In addition, you will study in depth the policy coverage and claims handling issues associated with your choice of paper.