Fundamentals of Insurance I

Descripción

Course Title: FOI 1: Fundamentals of Insurance I — Risk Foundations and Core Principles This course contains the use of artificial intelligence. Selected instructional visuals are AI-assisted. FOI 1: Fundamentals of Insurance I helps you understand risk, explain how insurance works and apply the core principles behind insurance decisions. This beginner-friendly course connects essential terminology with practical scenarios, building the foundation for entry-level insurance work and further professional study. What You Will Learn Explore risk awareness, assessment, classification, risk management and insurability. Use a likelihood-impact matrix, compare risk-control options and understand basic policy terms. Apply principles including insurable interest, disclosure, proximate cause, indemnity, contribution, loss minimisation and subrogation. Work through guided contribution and underinsurance calculations while recognising when more information or specialist advice is needed. What you’ll learn • Identify business exposures and distinguish risks, perils and hazards in practical scenarios. • Assess likelihood and impact, justify risk ratings and organise findings in a basic risk register. • Compare risk-treatment options and propose actions with owners, priorities and follow-up evidence. • Classify risks and assess their suitability for insurance consideration, including information gaps. • Navigate policy schedules and wordings to locate covers, limits, deductibles, exclusions and endorsements. • Apply insurable interest, fair presentation and proximate cause to foundation-level case questions. • Explain indemnity, settlement methods, contribution, loss minimisation and subrogation through examples. • Calculate simplified contribution and average-clause settlements, showing your steps and assumptions. • Explain insurance concepts clearly and recognise when a coverage question needs clarification or referral. • Prepare an Entry-Level Risk Assessment Portfolio and use a self-review rubric and next-step learning plan. Who This Course Is For Ideal for students, job seekers, new insurance employees, customer-service and administrative staff, and aspiring underwriting or claims personnel. No previous insurance knowledge is required. Basic percentages and a willingness to complete short exercises are sufficient. Your Instructor Bassel Zeidan is a General Insurance Specialist with over 15 years of experience in Dubai-based insurance companies and a decade of coaching and training. A member of the Chartered Insurance Institute and a certified insurance professional, he brings practical industry insights to the lessons. Build a practical foundation for explaining insurance clearly and approaching straightforward risk scenarios with structured reasoning.

Lo que aprenderás

• 1. Define risk, insurance, premium, claim, deductible or excess, coverage limit, insured, insurer, peril, and hazard.
• 2. Explain the relationship between risk awareness, risk assessment, and risk-management decisions.
• 3. Use a simple likelihood-impact matrix to categorize common personal and business risks.
• 4. Differentiate financial and non-financial risks, pure and speculative risks, and particular and fundamental risks.
• 5. Explain why insurability depends on the nature of the risk, policy wording, market capacity, and the insurer’s decision.
• 6. Identify suitable risk-control approaches using an ordered hierarchy of controls.
• 7. Apply the core principles of insurance to straightforward scenarios.
• 8. Calculate basic contribution and underinsurance examples using guided formulas.
• 9. Recognize when a situation requires further information or specialist advice.
• 10. Prepare a basic risk-assessment record with a concise recommendation.

Requisitos

• No prior insurance knowledge is required. Learners should be comfortable with: • basic reading comprehension; • simple percentages; • short written exercises; • everyday examples involving homes, cars, businesses, and personal decisions.