Insurance Law explained, by Shane Irvine, J.D.
- Taking notes is highly recommended.
This course is about how insurance works and the various types of insurance available. Insurance law is a vital element of business law and learning about the laws associated with business insurance should be considered as important as learning how to write contracts. Insurance companies pool the insured's funds (known as exposures) to pay for the losses that some may policy holders may incur. The insured entities are protected from risk. The premiums that a policy holder pays is based on actuarial figures that estimate the probable frequency and severity of events occurring. An insurable risk must meet certain characteristics. This course will teach students what those risk characteristics are and better prepare them as entrepreneurs to balance the utility of coverage against potential risks without coverage. A successful entrepreneur should always try to make decisions based on knowledge by balancing utility versus risks. In the end, it's not how much you make that matters, it's how much you keep. Understanding how to defer taxes is equally as important as knowing how to write contracts.
Who this course is for:
- Target students are entrepreneurs who seek to run their own business. A small business may not be able to afford business insurance initially, but as a business grows, it becomes a necessary business tool.
- Target students are also those intending to sell insurance and want to supplement the required licencing classes.
- 39:06Insurance Law 1
- 15:43Insurance Law 2.1
- 16:37Insurance Law 2.2
- 18:44Insurance Law 2.3
- 17:47Insurance Law 3
I have a Juris Doctor degree (1991) from Southern California Institute of Law and have spent most of my adult life as a private Entrepreneur. I approach life from the viewpoint that your livelihood should be a reflection of your basic personality and that you should feel comfortable in the zone you create for yourself. I encourage entrepreneurship because it allows you to expand and grow at your own pace and not stand at the judgement of others. I believe we have one basic universal duty, and that is to maximize our personal potential. Namaste