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General Insurance Business (IF2)

IF2 (15 CII credits – Certificate level)

This unit provides an overview of the products and services in the general insurance market in the UK, and the challenges faced by insurers and brokers in providing them effectively and profitably in a continually developing market.

We look at the basic features and outlines of the typical covers provided within the main classes of insurance, i.e. motor, health, property, pecuniary and liability. We also look at policies that combine various covers under an overall policy heading, and how these have developed to meet the changing needs of customers.

We address the need for the underwriter to understand the risks and for the insured to understand their part in providing appropriate information and ensuring the cover provided, based on this information, meets their requirements. We look at legislation that requires consumers of personal lines insurance to take reasonable care not to make a misrepresentation and for insurers to ask the right questions clearly. We also look at provisions that apply to commercial insurances, including the duty to make a fair presentation of the risk.

We consider premiums and how premiums are calculated. The cost of claims is a key element, and this covers how processes of proof, reserving and compliance with policy terms, and conditions and current legislation are managed and understood.

Finally, we view how insurers communicate with customers and comply with legislation to protect the data and the rights of the persons to whom it relates.

Please note, life insurance falls outside the scope of the General Insurance Business syllabus.

Building a successful career in insurance

This course is for you if you work in insurance or aspire for a rewarding career in insurance. General Insurance Business (IF2) counts towards achieving the Certificate in Insurance.

Summary of learning outcomes:

  1. Know insurance products and associated services for general insurance business.
  2. Understand underwriting and policy wordings for general insurance business.
  3. Know how to apply knowledge of principles of premium calculation of general insurance business to a given set of circumstances.
  4. Understand claims within the context of general insurance business.
  5. Know how to apply knowledge of principles concerning the operation of policy conditions affecting claims for general insurance business to a given set of circumstances
  6. Understand information and communication technology, security, confidential information and data protection within general insurance business.
  7. Understand customer service within general insurance business.

More details:

Download 2020 syllabus (PDF)

Download 2020 exam guide (PDF)

 Assessment:

  • 2-hour exam
  • 100 multiple choice questions
  • 70% nominal pass mark

Recommended study hours: 60

Prepare for success with Enrolment plus

Improve your chances of exam success with Enrolment plus and receive extra IF2 revision aids with your enrolment.

Save while you study: Members save £92 purchasing extra revision aids with Enrolment plus. Non-members save £102.

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Enrolment plus – 2020 edition (applicable to exams sat 01 Jan 20 to 31 Dec 20)

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Information Unit IF2 exam

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