AIC 301
Exam Coverage
The exam coverage includes foundational claims handling principles
assessed in AIC 301 - Introduction to Claims, offered by The Institutes.
It focuses on the role of claims professionals, the claims process from
first notice of loss through resolution, and the legal and ethical
responsibilities involved in claims handling. The exam also evaluates
understanding of insurance policy interpretation, investigation
techniques, documentation, and communication with claimants.
Emphasis is placed on customer service, regulatory compliance, and
applying best practices to ensure fair and efficient claims resolution
,What is a contract?
A legally enforceable agreement between two or more parties.
Who is the promisor?
The party to a contract making a promise.
Who is the promisee?
The party to a contract to whom a promise is made.
,What is privity of contract?
The relationship that exists between the parties to a contract.
Who is a third-party beneficiary?
A person who is not a party to a contract but who benefits from it and
has a legal right to enforce the contract if it is breached by either of
the contracting parties.
What is a breach of contract?
The failure, without legal excuse, to fulfill a contractual promise.
, Who is the offeror?
The party to a contract who promises to give something in return for a
promise or an act by another party.
Who is the offeree?
The party to a contract who makes a promise or acts in return for
something offered by another party.
What is the Uniform Commercial Code?
A code of laws that govern commercial transactions in the United
States.
Exam Coverage
The exam coverage includes foundational claims handling principles
assessed in AIC 301 - Introduction to Claims, offered by The Institutes.
It focuses on the role of claims professionals, the claims process from
first notice of loss through resolution, and the legal and ethical
responsibilities involved in claims handling. The exam also evaluates
understanding of insurance policy interpretation, investigation
techniques, documentation, and communication with claimants.
Emphasis is placed on customer service, regulatory compliance, and
applying best practices to ensure fair and efficient claims resolution
,What is a contract?
A legally enforceable agreement between two or more parties.
Who is the promisor?
The party to a contract making a promise.
Who is the promisee?
The party to a contract to whom a promise is made.
,What is privity of contract?
The relationship that exists between the parties to a contract.
Who is a third-party beneficiary?
A person who is not a party to a contract but who benefits from it and
has a legal right to enforce the contract if it is breached by either of
the contracting parties.
What is a breach of contract?
The failure, without legal excuse, to fulfill a contractual promise.
, Who is the offeror?
The party to a contract who promises to give something in return for a
promise or an act by another party.
Who is the offeree?
The party to a contract who makes a promise or acts in return for
something offered by another party.
What is the Uniform Commercial Code?
A code of laws that govern commercial transactions in the United
States.
