Corporate Liability Ins. Rescission - An Equitable Remedy
What you'll learn
- Discover what the equitable remedy of rescission is.
- Explore how to use the equitable remedy of rescission to avoid a policy and a claim.
- Identify the elements an insurer must prove to effectively rescind a policy of insurance.
- Explore how liability insurers investigate a claim to determine if there is any basis for asserting the right to rescind a policy of insurance.
- Identify each of the defenses available to insured’s whose insurer attempts to rescind.
- Discover that it is the duty of the insured to honestly describe the risk it asks an insurer to insure.
- Discover how to recognize insurance fraud and how it relates to an application for insurance.
- No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
A complete course of study providing education and training to allow the student, to learn how to deal with the equitable remedy of rescission as a method to defeat insurance fraud or policies acquired innocently by fraud, misrepresentation, concealment or mistake. The course reviews the law of rescissions, the elements of the equitable remedy, and how to declare a policy void.
This twelfth course in the series provides a representative of an insured sufficient knowledge to avoid misrepresentation, concealment, fraud or mistake in acquiring a policy to avoid rescission by the insurer. The insurer’s representative learns everything that is required of an insured to assist an insurer in its investigation, defense and defeat of insurance fraud or policies of insurance obtained by deceit.
The Course covers the following:
An explanation of the equitable remedy of rescission.
How rescission can be used as a means to defeat insurance fraud.
The historical basis of the equitable remedy of rescission.
The elements required to prove it is appropriate to rescind a policy of insurance.
What an insurer must prove to rescind a policy of insurance.
How to detect the difference between a true and false representation.
How to determine that a misrepresentation or concealment is material.
What must be done to rescind a policy of insurance.
A review of particular court decisions that resulted in an effective rescission.
A discussion of claims of post loss underwriting and why it is an oxymoron.
What an insurer must do before electing to rescind a policy of insurance. Prerequisites:
The first eleven courses of the Certified Expert in Corporate Liability Insurance program are prerequisites and it would be helpful to complete the Certified Expert in Corporate Property Insurance Program.
Who this course is for:
- Anyone interested in business law, insurance for business, management, finance, or related fields.
Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.
Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.
Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.
Barry Zalma, Esq., CFE, has practiced law in California for more than 42 years as an insurance coverage and claims handling lawyer. He now limits his practice to service as an insurance consultant and expert witness specializing in insurance coverage, insurance claims handling, insurance bad faith and insurance fraud almost equally for insurers and policyholders. He also serves as an arbitrator or mediator for insurance related dispute
He founded Zalma Insurance Consultants in 2001 and serves as its only consultant.
Consultant/Expert Witness : Zalma Insurance Consultants - [2009-07 to Current]
Consult with policy holders and insurers about claims handling and bad faith issues.
Attorney : Barry Zalma, Inc. - [1979-10 to Current]
Represent clients involved in litigation dealing with insurance, insurance coverage and insurance claims handling and insurance bad faith.
Senior Claims Representative : Fireman's Fund American Insurance Compan - [1967-09 to 1972-02]
Investigate and adjust claims presented to the Fireman's Fund insurance company by its insureds or by claimants seeking damages from the persons insured.
Special Agent, Intelligence : US Army Intelligence School - [1964-01 to 1964-12]
Became a US Army Intelligence Special Agent and Special Agent, US Army Intelligence Corps, Peoria, Illinois, residence office.
JD, Law : The University of West Los Angeles - [1967 to 1971]
AB, Philosophy : Claremont Men's College (Now Claremont McKenna College) - [1960 to 1963]