Required Texts:

Trupin, J., and A. Flitner, CPCU 3 - Commercial Property Insurance and Risk Management (Volumes 1 and 2), 6^th edition, American Institute for CPCU, Malvern, PA, 2001.

The CPCU Handbook of Insurance Policies, 4^th edition, American Institute for CPCU, Malvern, PA, 2001.

Insurer Operations, Bulk Pack – To Be Determined.

Optional Text:

CPCU 3 Course Guide, 1^st edition, American Institute for CPCU, Malvern, PA, 2001.

Course Description:

This course provides a detailed examination of commercial property insurance contracts. Major topics cover the available property products and their uses. Emphasis is placed on understanding coverage objectives and appropriate uses for the product. Social, global, and ethical perspectives of coverage and applicability are discussed in the context of current issues affecting businesses and individuals. In addition to property coverage, this course provides an introduction to insurance company operations with respect to underwriting, marketing, and claims handling functions.

Students are responsible for all material presented in class, assigned in the textbook, and/or posted on Blackboard.

Exams 1, 2, & 3 @ 100 Points Each 300 Points

Final Examination 75 Points

Property Valuation Project 125 Points

Attendance & Class Participation 50 Points

TOTAL: 550 Points

Four short answer/essay style exams will be administered throughout the semester. The CPCU 3 Course Guide (optional text as noted above) may assist you in mastering the material, and examination questions may follow a similar format. You may bring your own pocket calculator for exams, but you may not share it with another student during the exam. Hand-held computers (Palm Pilots, etc.) are not permitted. Each exam will be announced before it will be given.

I strongly believe that all students should get the same deal when it comes to examination procedures. I expect you to take all exams at the times scheduled in the syllabus (or announced if there is a necessary adjustment). If you have a verifiable illness or similar emergency or if a verifiable death occurs in your immediate family, you need to let me know prior to the exam in order to obtain an excused absence. Please call me at the office or at home in such an event. If you can't reach me, please leave a message explaining your situation on my voice mail. I will require written verification of illness, emergency, or family death from any students receiving an excused absence. Please note that scheduling an interview during an exam is not a valid excuse for missing an exam.

If you receive an excused absence prior to an exam time, I will double the weight assigned to the percentage grade you earn on the last exam, rather than administer a make-up exam. If you miss one exam because of an unexcused absence, I will enter your grade on the last exam given in the course less 25 percent for the missed exam. In other words, if you miss one earlier exam and earn 85% on the last exam given, you will receive a 60 for the missed exam. For any unexcused exam absences after the first such absence, I will assign you a zero.

Although I encourage you to raise any questions you have about the exam during the class discussion period, I do find lengthy debate over exam questions to be rather wasteful of valuable class time. I am happy to explain what I had in mind when I wrote the question. If you disagree, please prepare a rebuttal and I pledge to give it open-minded consideration.

Rebuttals should be computer-printed or written. You should specify (1) why the question was incorrect or unduly ambiguous and (2) why your answer is better than the one specified as correct by me. I am glad to adjust your grade if there is a valid reason. Please note that a two-line rebuttal scribbled down while we are going over the tests is rarely sufficient. Rebuttals should be well thought out and well written. The burden of proof is upon you! All rebuttals are due during the class following the day on which graded exams are discussed. So you need to act immediately after the exams are discussed in class. Please don't wait until you are a borderline case at the end of the semester and then try to argue that adjustments to earlier exam scores are warranted!

Naturally, I fully expect you to attend class. Our discussions encompass such a broad range of topics that simply reading the assigned material will not give you enough information to perform well on the exams or the project.

A portion of your grade reflects class attendance and participation. I will take roll each class period. Remember, this class meets only one time per week, so missing a class period is the equivalent of an entire week’s worth of material. For the class attendance portion of your grade, I will use the following attendance guideline, based upon the 11 scheduled lectures (i.e. not counting examination weeks):

# Classes Missed Outcome

0 5 Bonus Points

1 95%

2 85%

3 75%

4 65%

³ 5 00%

Class attendance is a necessary but not sufficient condition for the participation portion of your grade. For class participation, I expect you to have read the assigned material prior to our class meeting and be prepared to ask and/or answer thought provoking questions.

Course Project:

In this class, you be responsible for a property valuation project. I will provide you with written guidelines for the project. The project will be due at NOON on Friday, November 30, 2001. Projects may be delivered to me in my office or left in my mailbox located in room 320. Because I have a very limited time to read and grade these projects, late submissions automatically will be assessed a penalty of five points per hour up to a maximum of 15 points per day.

I may offer extra credit points to all class members if there is a special event, such as a departmental seminar or a meeting with industry speakers, which is relevant to the material covered in this course. Events for which extra credit points are available will be announced in class.

Office Hours:

My office hours are listed in your syllabus. I will make every attempt to preserve those hours for student consultation. Please observe my office hours if at all possible. If you cannot come by or call during those hours, be assured that I am willing to arrange an appointment with you at a mutually convenient date and time.

This class will utilize Blackboard as the primary mechanism to disseminate lecture outlines, handouts and information. I will perform a batch enrollment for the class. It is your responsibility to know your account number and password, and make sure you can access this site.

As of May 18, 2001, all enrolled UM students were assigned Blackboard accounts (e-mailed to your Sunset e-mail address). If you’ve forgotten your login or password -- or need a new account -- please bring your UM student ID to the IT Helpdesk, room 117 Powers Hall, and they can assist you.

All e-mail will be sent to your Sunset (olemiss.edu) account. If you want to receive it on another server, such as "hotmail" or "aol", please go to www.bus.olemiss.edu/it, then "student information" to learn how to forward Sunset mail to your preferred mail server.

Homework assignments for grading purposes will not be given. However, from time to time I may post assignments on Blackboard to help you master skills and concepts necessary for an upcoming exam. It is your choice whether or not to work those assignments.

At Ole Miss, the Insurance and Risk Management program takes great pride in attracting industry speakers to update us on current developments, including career opportunities. These speakers are giving up their valuable time and traveling here at their expense. The information they convey usually is as important as that which I deliver, if not more so. To reward you for attending and participating in guest speaker sessions associated with this class, you will be given five (5) extra credit points if the speaker receives a reasonable number of questions from students during the class period. No "make-up" opportunities for extra credit will be given to students missing these sessions.

Academic Honesty:

You are expected to comply fully with the University's policies regarding academic honesty. Please refer to the University's M Book if you have any questions about academic honesty standards and discipline.

Week # Date Assigned Reading Topic

1 08/21 Chapter 1 Property Risk Management

2 08/28 Chapters 3 & 4 Building and Personal Property

Coverage Forms and Options

3 09/04 Chapter 5 Finish CH. 3 & 4

Causes of Loss Forms

09/11 RIMS Memphis – Meet in Southhaven – 5 Extra Credit Points

4 09/18 Exam I Chapters 1, 3, 4, & 5

Business Income Video

5 09/25 Chapter 8 Business Income Exposures

6 10/02 Chapter 9 BI/EE Coverages

7 10/09 Chapter 7 Flood, Earthquake and Specialty

Coverages

8 10/16 Exam II Chapters 7, 8, and 9

9 10/23 Chapters 11 & 12 Crime Coverages

10 10/30 Chapter 10 Transit

11 11/06 Chapters 13 & 15 Equipment Breakdown & Surety

12 11/13 Exam III Chapters 10, 11, 12, 13, & 15

Thanksgiving Break

13 11/27 Bulk Pack - TBD Insurer Operations 1 of 2

14 12/4 Bulk Pack – TBD Insurer Operations 2 of 2