BUS 266 - Property & Casualty Insurance

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: General

This course provides a comprehensive examination of insurance principles, contracts, and regulations, equipping students with the skills to analyze various insurance types, including homeowner’s, auto, and commercial policies. Students will explore the organizational structure of insurance companies and evaluate the impact of regulations on their operations, ensuring a solid understanding of compliance and industry standards. The curriculum emphasizes practical applications through real-world scenarios, allowing students to assess the efficiency of insurance transactions and the suitability of different policies. Additionally, learners will delve into Iowa-specific laws and regulations, fostering a nuanced understanding of consumer protection and the evolving landscape of property and casualty insurance.
Prerequisite OR Corequisite: BUS 260
Competencies
1. Analyze the Principles of Insurance
   1. Define key insurance terms and principles
   2. Illustrate how insurance principles are used in various scenarios
2. Evaluate the Insurance Contract
   1. Analyze the components and structure of an insurance contract
   2. Evaluate the effectiveness of different types of insurance contracts
3. Analyze Insurance Company Organization and Regulations
   1. Understand the organizational structure of insurance companies
   2. Apply how regulations impact insurance company operations
4. Evaluate the Insurance Transaction
   1. Apply the steps involved in completing an insurance transaction
   2. Evaluate the efficiency of different transaction processes
5. Analyze Homeowner’s and Dwelling Insurance
   1. Apply the benefits and limitations of homeowner’s and dwelling insurance policies
   2. Assess different homeowner’s and dwelling insurance policies based on coverage and cost
6. Analyze Personal Auto Insurance
   1. Understand the key components of personal auto insurance
   2. Apply different auto insurance policies for suitability
7. Analyze Miscellaneous Personal Lines of Insurance
   1. Analyze and describe various types of miscellaneous personal insurance
   2. Assess the need for different personal insurance types based on individual circumstances
8. Apply the Concepts Encompassed in Commercial Insurance Policies
   1. Understand the features of commercial insurance policies
   2. Apply how these policies protect businesses
9. Apply Business Owner Policy Concepts
   1. Understand the components of a business owner policy (BOP)
   2. Apply the benefits of a BOP for small to medium-sized businesses
10. Analyze Ocean and Inland Marine Insurance
   1. Understand the differences between ocean and inland marine insurance
   2. Analyze the coverage needs for different types of marine insurance
11. Apply Various Aspects of Worker’s Compensation Coverage
   1. Understand the purpose and coverage of worker’s compensation insurance
   2. Apply how worker’s compensation benefits employees and employers
12. Evaluate Iowa Laws, Rules, and Regulations Pertinent to Property and Casualty Insurance
   1. Analyze the impact of Iowa’s property and casualty insurance regulations on consumer protection and industry practices
   2. Understand current Iowa laws governing property and casualty insurance in addressing emerging risks and challenges in the insurance market

Competencies Revised Date: AY2026