Analysis of Insurance Contracts

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Analysis of Insurance Contracts
Chapter 6 Intro to Risk Management Insurance

• University of Texas at Austin
• Patricia M. Arnold, CPCU, ALCM

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Basic Parts of an Insurance Contract

• Declarations
• Definitions
• Insuring Agreement
• Exclusions
• Conditions
• Miscellaneous Provisions

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Definition of the Insured
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Endorsements and Riders
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Deductibles

• Purpose of Deductibles
• Deductibles in Property Insurance
• Deductibles in Health Insurance

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Coinsurance

• Nature of Coinsurance
• Purpose of Coinsurance
• Coinsurance Problems

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Coinsurance in Health Insurance
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Other Insurance Provisions

• Pro Rata Liability
• Contribution by Equal Shares
• Primary and Excess Insurance
• Permissive User
• Waiver (transfer of rights of recovery)

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