Non Standard Home Insurance – Moral Rating Factors

This course looks at non-standard home risks, concentrating on the moral rating factors. By the end of the course the learner will understand non-standard risks and gain knowledge of where non-standard risks can be placed. The learner will gain understanding of moral hazards and will understand the differences between physical and moral impact upon home insurance risks.

Objectives

Upon completion of this course, the reader will:

• Understand the nature of non-standard home insurance risks and why conventional insurers are unable to accommodate them
• Be aware of the facilities available in the home insurance market where non-standard risks can be placed
• Understand the nature of moral hazard
• Fully understand the impact of the various rating factors with moral aspects upon the assessment of the risk
• Be able to differentiate between the physical and moral impact upon home insurance risks of those rating factors usually associated with moral hazards
• Be able to identify which underwriting measures are likely to be used by insurers to address adverse moral aspects of home insurance risks