Claims Practice (M85) considers the practical aspects of handling a claim; from receipt to settlement (whatever that means in each case). It deals with the rules within which the claims handler must operate, as well as explain those of their duties which do not relate directly to the customer, e.g. the setting of claims reserves and ensuring that reinsurance and other recoveries are made.
Not all claims arise directly from the insurer's own policyholder. Some will come from persons, third parties, who have a problem with the policyholder, having experienced a loss because of their actions. We will see the law behind such claims and how to settle them. Some of these claims may end up being dealt with in a court of law. Consequently, they must be dealt with in a certain way to comply with the law and court procedures and this study text explains this.
Finally, we will look at what to do when a customer is not satisfied with how their claim has been resolved, what rules apply and the techniques of dispute resolution.
Building a successful career in insurance
This course is ideal for claims handlers and for those looking to gain knowledge and understanding of claims practice. Claims Practice (M85) counts towards a Diploma in Insurance. It may also count towards the Advanced Diploma in Insurance.
Please note it is assumed that you already have knowledge of the fundamental principles of insurance as covered in Insurance, Legal and Regulatory (IF1) or equivalent examinations.
Summary of learning outcomes
- Understand key aspects of claims handling.
- Understand key aspects of handling personal lines claims.
- Understand key aspects of handling property claims, including business interruption.
- Understand key aspects of handling third party liability claims.
Assessment
- Coursework assignment with 10 compulsory short answer questions (marked within 63 calendar days of submission); and a 60 minute exam comprising 50 multiple-choice questions (MCQs)
- 60% coursework pass mark
- The exam standard pass mark is 65% (for more information on standard pass marks please see here)
- The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 91.3%
- Coursework assignment to be submitted within 6 months of enrolment
- Exam to be passed within 18 months of enrolment (only first exam entry included as part of the enrolment)
Units treated as equivalent
Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of credits.
If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.
Find out more about credit awards for equivalent units
Course delivery
Instructions on accessing your course on RevisionMate will be sent to your registered email address. This is typically within two working days of your order being placed, but may be longer, particularly if payment is made by bank transfer or the unit is available as a pre-order.
Study material - editions available
2023-24 edition (applicable to exams sat 01 May 2023 to 30 April 2024)
Revision aids available
The revision aids available for this unit are listed below. You can find more details about these here.
