Retail Financial Product: Personal General Insurance

1. The concept of insurance

- To explain the nature of general insurance and the insurability of risks.

- To explain the concept of general insurance and the benefits it can provide to consumers in terms of protecting them against the consequences of adverse events.

- To analyse the risks faced by consumers in a comprehensive manner and to identify the extent of appropriate insurance solutions available in the market.

2. Basic legal and insurance principles underlying general insurance

- To illustrate the particular legal principles of insurable interest and utmost good faith.

- To describe the main requirements which these legal principles impose on consumers effecting general insurance policies, including in particular the duty to disclose material facts, and how these principles can impact on payment of claims and continuance of the policy.

- To explain the concept of indemnity and its application to personal general insurance policies.