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Fundamentals of Insurance

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Welcome to the world of property and casualty insurance, personal and commercial insurance, legal liability, automobile insurance, accident and sickness insurance, contracts, regulation of brokers, insurance definitions – you will learn it all in this introductory course.
Your learning will focus on the many insurance needs of the consumer by following the lives of the Butlers, a hypothetical family, who serve as an example to illustrate the workings of various insurance concepts. The main purpose of this approach is to break down the learning barriers that are often associated with specialized or technical disciplines such as insurance.

Program Overview

The successful completion of this foundation course satisfies the education requirement for a Level 1 license in New Brunswick.

Starting with the history of insurance, this course will guide you through definitions, functions, and major classes of the organization of insurance.

Your learning will include the following topics:

  • Introduction to General Insurance
  • Insurance Contracts
  • Role of Government in the Insurance Industry
  • Insurance Process
  • Common Characteristics of Property Insurance Policies
  • Personal Property (Habitational) Insurance
  • Commercial Property Insurance
  • Principles of Legal Liability
  • Introduction to Liability Insurance
  • Liability Insurance Policies
  • Accident and Sickness Insurance
  • Introduction to Automobile Insurance
  • Automobile Insurance – The Policy
  • Statutory Conditions and Endorsements
  • Regulation of Brokers

Method of Study: Self-study

Cost: IBANB Members: $325+HST,

         Non-members: $375+HST

Before registering:

  • Please note, marks will not be released until payment is received by our office.
  • Your exam results will be posted to this website under your profile, and no longer will be mailed.
  • ALL exams will be written in Fredericton, NB.

If you have purchased a textbook prior to IBANB taking over the administration of this exam, please complete the registration form as is and contact the IBANB office at 506-450-2898 or email us.

Please send an email to the Marketing and Program Coordinator if you would like to know more about this program.