Compare the cost of cashing a check with various third parties.
Examples: bank or credit union, check-cashing services, retail outlets
Identify ways to avoid costly fees.
Examples: overdraft fees, late fees
Discuss the pros and cons of being unbanked.
Demonstrate procedures for opening and managing a checking account, including writing checks; recording checks, debits, and deposits; and reconciling statements.
Risk Management and Commercial Insurance
Foundational Standards
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Discuss and demonstrate ways to value diversity.
Property Insurance
Explain the purpose of commercial property insurance.
Assess insurance products and recommend a purchase based on product features in relation to cost.
List the advantages and disadvantages of purchasing property insurance to protect company assets from loss due to fire, lightning, windstorm, hail, riot, and civil commotion.
Demonstrate ways an insurance agent helps a business protect its financial well-being.
Assess the safety of business premises.
Determine suitable liability limits for a particular business.
Determine the need for business interruption coverage.
Describe the factors used in rating the value of business property, including building construction and usage, size, and location of property.
Examples: zoning, availability of police and fire protection, seasonal use of property
General Liability Insurance
Summarize the different types of commercial liability exposure.
Examples: premises, operations, products, maintenance, professional malpractice, ownership, auto, fleet
Explain the coverages of commercial liability insurance, including Coverage A (bodily injury and property damage), Coverage B (advertising and personal injury), and Coverage C (medical payments of others).
Summarize the factors used in rating the general liability of the business.
Examples: classification of business, volume and size of business, history of business
Regulation of Insurance Companies
Research regulatory requirements for insurance companies in Alabama and explain consequences of failing to meet those requirements.
Explain the role of the Alabama Department of Insurance in protecting the stability of the insurance industry.
Summarize the main provisions of laws that regulate the insurance industry in Alabama.
Workers’ Compensation
Explain the role of workers’ compensation insurance and the benefits of workers’ compensation insurance to policyholders.
Risk Management
Describe the legal contract obligation of an insurance policy.
Identify the basic principles of risk management.
Discuss product liability, punitive damage, and methods to limit loss resulting from product liability.
