Whether you fundamentals of insurance textbook your career in the insurance industry, or a broker seeking to become licensed, you need to know the fundamentals of insurance manitoba. The first step is to take a pre-licensing course that satisfies provincial licensing requirements. There are a number of options available, including online and in-person courses. You should check with your provincial insurance association for more information.

The purpose of insurance is to transfer the risk of loss to an insurance company in exchange for a premium, or fee. This can be done to cover property, casualty and marine exposures, as well as to help reduce the effects of financial loss on an organization. Insurance is also one of the principal forms of risk transfer for corporations and governments.

Foundations of Insurance: Exploring the Core Concepts in Our Textbook Recommendation

This course will introduce you to the basic concepts, terms & practices of insurance. You will learn about the role of the insurance intermediary, insurance laws & regulation and the different types of insurance coverages available. You will examine the various types of personal & commercial auto, legal liability, life, accident and sickness policies. The course also covers the responsibilities of both the Federal & Provincial Governments as they relate to insurance regulation.

The course is a prerequisite for those who want to obtain a Level 1 provincial licence in Manitoba, according to the Insurance Brokers Association of Canada (IBAM). This allows you to sell all categories of insurance except life insurance inside the office of a brokerage.