FLMI – Fellow, Life Management Institute
Loma 311
Overview
FLMI Level:
Fellow, Life Management Institute (FLMI) Teaches advanced insurance and financial concepts to build a deeper understanding of the insurance business. The five FLMI-level courses cover “big picture” business topics important to insurance professionals and managers. In general, these courses also cover quantitative and financial concepts in greater depth.
LOMA 311 presents the basic features and principles of the legal environment in which financial services companies around the world operate.
Target Group
The Fellow, Life Management Institute (FLMI) program is a professional development program that provides industry-specific business education in the context of the insurance and financial services industry.
Program Content
• The Legal Environment of Business
- Sources of Law
- Legal Systems
- Court Systems
- Business Ethics
• Civil Disputes
- Civil Litigation Process
- Tort Law
- Civil Remedies
- Alternative Dispute Resolution
• Business Organizations
- Types of Business Organizations
- Formation of a Corporation
- Operating and Managing a Corporation
- Changing the Corporate Structure
- Dissolution of a Corporation
- Legal Environment of International Business
• Regulation of Business
- Antitrust Regulation
- Consumer Protection Regulation
- Electronic Commerce Regulation
- Employment Regulation
• Regulation of Financial Services Companies
- Regulation of Holding Companies
- Regulation of Insurance
- Regulation of Banking
- Regulation of Securities
- Privacy Protection Laws
• Contact Law
- Sources of Contract Law
- Types of Contracts
- General Requirements for a Contract
- Defenses to the Formation of a Contract
- Contract Performance and Breach
- Form of the Contract
- Rules of Contract Construction
- Parol Evidence Rule
• Agency Law
- The Agency Relationship
- Agent’s Duties to the Principal
- Principal’s Duties to the Agent
- Principal’s Liabilities to Third Parties
- Agent’s Liabilities to Third Parties
- Termination of an Agency Relationship
• Property Law
- Types of Property
- Property Ownership
- Transfers of Ownership Rights
- Intellectual Property
• Commercial Transactions & Bankruptcy
- Sales of Goods
- Negotiable Instruments
- Credit and Secured Transactions
- Bankruptcy
• Sale of Financial Services Products
- Life Insurance Contract Formation
- Temporary Insurance Agreements
- Formation of an Annuity Contract
- Insurance Producers’ Role
- Mutual Fund Sales
• Ownership of Financial Services Products
- Ownership of Individual Life Insurance
- Ownership of Annuities
- Ownership of Mutual Fund Shares
• Rights of Third Parties
- Ownership Transfers
- Creditors’ Rights in Life Insurance
- Trust Agreements
- Life Insurance Policy Settlement Options
• Policy Contests and Civil Remedies
- What Is a Policy Contest?
- Elements of a Material Misrepresentation
- Barriers to a Contest on the Grounds of Material Misrepresentation
- Other Grounds for Contesting a Contract
- Remedies
• Contract Performance
- Performance of the Annuity Contract
- Performance of the Life Insurance Contract
• Group Products
- Group Life Insurance Contracts
- Regulation of Group Life Insurance
- Group Retirement Plans
Duration
40 Training Hours