This chapter’s objectives are to: Identify and understand the basic parts of an insurance policy, explain the difference between named perils and open perils property insurance coverage, explain why exclusions are used in insurance contracts and identify the major types of exclusions, describe how the interests of mortgagees are protected in insurance policies and why the mortgagee clause gives the best protection to the mortgagee, | Lecture Risk management and insurance - Lecture No 14 Financial operations of insurers -
