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Insurance – SS1, SS2 & SS3 Curriculum; Scheme of Work; Assessment Tests

Hello and welcome!

ASSURE Educational Services has put-together the scheme of work on Insurance  – SS1, SS2 and SS3 based on the National Curriculum and the syllabus of WAEC and NECO. All the topics highlighted in the National Curriculum and the syllabus of WAEC and NECO have been accommodated in our Scheme of Work.

End of term Assessment Tests in SS1, SS2 and SS3 alongside Overall Assessment Tests are available. Schools may adopt our scheme of work because of its simplicity and ease of monitoring of academic activities.

The Scheme of Work stated below is inexhaustible. Schools are encouraged to input weeks and periods of completion of topics in accordance with the academic calendar, number of students and available classes.

SS1 Insurance – 1st Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 1st Term INTRODUCTION TO INSURANCE i. Meaning
ii. Historical development
-Pre and Post independence era and Legislations
iii. Insurance contracts
– Parties to Insurance contract
– Essential features of Insurance contract
iv. Risks:
– Meaning.
– Effect of risks on the society.
– Classification of risks.
– Insurable and un-insurable risk.
v. Hazards:
– Meaning.
– types.
vi. Functions of Insurance:
– Primary functions.
– Secondary functions.
vii. Benefits of Insurance
viii. Perils:
– Meaning
– Differences among perils, risks and harzards.
PRINCIPLES OF INSURANCE (1)  Insurable Interest (1) Insurable Interest
i. Meaning
ii. Essential features of insurable interest
iii. Application of insurable interest in life assurance and property insurance
(2)   Utmost Good Faith (2) Utmost Good Faith
i. Meaning
ii. Insured and insurer’s duty of disclosure
iii. Breaches and effects
(3) Proximate Cause (3) Proximate Cause
i. Meaning
ii. Application of proximate cause on claims
(4)  Indemnity (4) Indemnity
i. Meaning
ii. Methods of providing indemnity by insurer
iii. Application of indemnity in property and liability insurance
(5)  Subrogation (5) Subrogation
i. Meaning
ii. Insurer’s right under Subrogation
iii. Insured’s duty under Subrogation
(6)  Contribution (6) Contribution
i. Meaning
ii. Application
iii. Conditions necessary for contribution





SS1 Insurance – 2nd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 2nd Term DOCUMENTS USED IN EFFECTING CONTRACT (1) Proposal Forms (1) Proposal Forms
i. Meaning
ii. Functions and uses
iii. Contracts where proposal forms are used
(2) Cover Notes (2) Cover Notes
i. Meaning
ii. Contents of Cover notes
iii. Functions and uses of Cover notes
Iv. Contracts where Cover notes are issued
(3) Certificate Of Insurance (3) Certificate of Insurance
i. Meaning
ii. Certificate of Insurance in
– Motor
– Marine
– Employer’s liability
(4) Policy (4) Policy
I. Meaning
ii. Component parts of a policy
iii. Parties to a policy




SS1 Insurance – 3rd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 3rd Term INSURANCE  PRACTICE (1) Re- insurance (1) Re –insurance
i. Meaning.
ii. Forms ( Facultative and Treaty).
iii. Functions.
iv. Uses.
(2)  Insurance Renewals (2) Insurance Renewals
i. Meaning of renewal notice
ii. Renewal procedure
iii. Legal status of renewal notice
iv. No claim Discount (NCD)- meaning and uses
v. Long term Agreement (LTA) – meaning and uses
(3) Insurance  Claims (3) Insurance Claims
i. Meaning of claims
ii. Claim procedure
– Notification
– Documentation (Claim forms)
– Investigation
– Discharge voucher
– Payment
iii. Duties of the Insured and the underwriter in
claims
iv. Functions of Loss Assessors and Loss Adjusters.
(4) Insurance Premium (4) Insurance Premium
i. Meaning
ii. Factors to be considered when determining a
premium
iii. Factors responsible for loading premium
iv. Return premium
– Partial and full return
– Reasons for returning premium





SS2 Insurance – 1st Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 1st Term NON – LIFE INSURANCE PRODUCT (1)  Motor Insurance (1) Motor Insurance
i. Meaning
ii. Types of policies in Motor Insurance
– Private car
– Commercial vehicle
– Motorcycle
– Agricultural and Forestry vehicle
– Special types ( fork lifts, Tractors , caterpillars)
iii. The scope of cover
– Act only
– Third party only
– Third party, fire and theft
– Comprehensive
vi. ECOWAS Brown Card ( meaning and uses)
(2)  Fire   Insurance (2) Fire Insurance
i. Meaning
ii. Standard fire policy cover
iii. Special perils (earthquake, flood, riot and strike)
iv. Properties covered
– Building and its contents
– Machinery and plant
– Stocks
v. Buyers of fire insurance
– Individuals
– Corporate bodies
– Government agencies
(3) Theft Insurance and Burglary Insurance (3) Theft Insurance and Burglary Insurance
I. Meaning
ii. Properties covered
– Household properties
– Stocks
– Machinery and Plants
iii. Theft insurance and Burglary Insurance in
business and private premises
iv. Differences between Theft Insurance
and Burglary Insurance




SS2 Insurance – 2nd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS2 2nd Term NON – LIFE INSURANCE PRODUCT (4)  Money Insurance (4) Money Insurance
i. Meaning
ii. What constitutes money ( cash, cheque, postal
order )
iii. Types of cover available
– In transit only
– In safe or strong room after business hours
– In custody of a staff e g cashier
(5)  Fidelity Guarantee Insurance Fidelity Guarantee Insurance
i. Meaning
ii. Types of policies in fidelity guarantee Insurance
– Named policy
– Position policy
– Blanket policyiii. Bond ( meaning)
iv. Differences between commercial guarantee
and bonds.
(6) Engineering Insurance (6) Engineering Insurance
i. Meaning
ii. types of engineering Insurance
– Boiler
– Explosion
– Computer all risks
iii. Scope of Engineering Insurance
– Material damage
– Liability cover
(7) Marine insurance (7) Marine insurance
i. Meaning
ii. Marine perils
iii. Type of cover
– Hull policy
– Cargo policy
– Freight policy
(8) Aviation Insurance (8) Aviation Insurance
i. Meaning
ii. Types of Aviation policy
– Aviation hull policy
– Cargo policy
– Freight policy
– Liability arising from aircraft operation
– Liability to passengers and non-passengers
iii. Aviation risks
iv. Factors affecting
v. International regulations of Aviation Insurance
– Montrel Convention
– Hague Rule
– Warsaw convention
(9) Employer’s Liability (9) Employer’s Liability
i. Meaning
ii. Policy covered (employees compensation policy)
iii. Level of benefits payable
iv. Perils covered(10) Public Liability Insurance
i. Meaning
ii. Types
– Personal liability policy
– Product liability policy





SS2 Insurance – 3rd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS2 3rd Term NON – LIFE INSURANCE PRODUCT (11) Professional Indemnity (11) Professional Indemnity
i. meaning
ii. Professionals that require professional indemnity
( Doctors, Lawyers, Insurance brokers, Accountant,
Architects)
(12) Business Interruption Insurance (12) Business Interruption Insurance
i. Meaning ( consequential loss)
ii. Causes of business interruption
– Machinery breakdown
– Fire Incident
(13) Personal Accident Insurance (13) Personal Accident Insurance
i. Meaning
ii. Risks covered:
– Death
– Bodily injury
– Permanent disability
– Total temporary disability
– Medical expenses
iii. Forms of personal Accident Insurance
( personal and group)
iv. Benefits ( Death, Bodily Injury and medical
expenses)
v. Buys of personal and group accident policy




SS3 Insurance – 1st Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS3 1st Term INSURANCE MARKET
( OPERATORS)
i. Meaning
ii. Market Operators
(a) Insurance Companies
(b) Reinsurance Companies
(c) Insurance Intermediaries (Brokers and Agents)
(d) Insurance Buyers
– Individual and private
– Corporate and public institutions
(e) Insurance Sellers
– Insurance Companies
– Re-insurance Companies
(f) Supporting Services ( Assessor and Loss Adjusters)
INSURANCE REGULATOR (1) Nigerian Insurance
Association (NIA )
(2) Nigerian Council of Registered Insurance Brokers (NCRIB )
(3) Institute of Loss Adjusters of Nigeria (ILAN )
(4) National Insurance
Commission (NAICOM)
(5) Chartered Insurance institute of Nigeria (CIIN)
(i) Meaning
(ii) Role/ Functions
(iii) Purpose
(iv) Membership
COMMON INSURANCE
TERMINOLOGIES
Meaning of
i. Hazards
ii. Perils
iii. Concealment
iv. Disclosure
v. Days of grace
vi. Ex- gratia payment
vii. Extra- premium
viii. Endorsement
ix. Excepted perils
x. Subject matter of Insurance
xi. Under Insurance
xii. Return Premium
xiv. Surrender Value
xv. Cover note.

 

SS3 Insurance – 2nd Term Scheme of Work – Revision


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