Sample Insurance Policy Gap Analysis - Free Download
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Sample Insurance Policy Gap Analysis
Sample Insurance Policy Gap Analysis
Property of Michigan Department of Education 1
Directions: (Print on legal size paper)
Secondary Delivery: Indicate the level the student will be able to perform the standard when leaving the program for each of the Performance Elements
Local Task ID Code/Delivery Point: Indicate where the standard is delivered in the curriculum
Academic Standards Crosswalk: You may indicate the academic content expectation number or you may use a check mark to indicate the appropriate academic content taught in the standard
Post-Secondary Delivery for Articulation: Indicate with a check if this is a standard required for post-secondary articulation for the program
Knowledge
Skills
Performance Element
Measurement Criteria
52.1701 Insurance (2013)
National Cluster Code
Post-Secondary Delivery
for Articulation
Pre
Career Development (teamwork,
leadership, entrepreneurship)
Business and Financial
Management
Post
Standard
Source
Insurance and Risk Management
4 3 2 1 N
Local
Task ID
Code/
Delivery
Point
ELA
Math
Social Studies
Science
VPAA
0 1 2 3 4 5 6 7 8 9 10 11 12 13
I Principles of Insurance and Risk Management Technical
A Explain the concepts of risk and insurance Technical
1 Describe the role of insurance in risk management 1 Technical
2 Explain how insurance works as a transfer system 5 Technical
3 Explain how the law of large numbers operates and applies to insurance 4
Technical
4 Describe the major types of loss exposures 1 Technical
5 Describe the characteristics of an ideally insurable loss exposure 1 Technical
6 Explain why government insurance is needed 2 Technical
7 Describe examples of federal and state insurance programs 2 Technical
8 Describe the major business operations of insurers 5 Technical
9 Explain why and how state insurance departments regulate insurers 2
Technical
10 Describe the benefits of insurance 5 Technical
11 Describe the costs of insurance 3 Technical
12 Distinguish among the major types of property and liability insurance 5
Technical
13 Distinguish among the major types of life and health insurance 6 Technical
B
Describe the types of insurance organizations and regulation Technical
1 Describe the various types of private property-casualty insurance providers 5 Technical
2 Describe the federal government Social Security program 2 Technical
3 Identify other federal insurance programs 2 Technical
4 Describe common state government insurance programs 2 Technical
5 Describe the purpose and activities of the NAIC 2 Technical
6 Explain how insurance rates are developed 2 Technical
7 Describe the objectives of rate regulation 2 Technical
8 Describe the different types of insurance rating laws 2 Technical
9
Explain how insurance regulators monitor insurers' financial condition and
protect consumers
2
Technical
10
Explain the role of excess and surplus lines in meeting the needs of business
in nonstandard markets
5
Technical
C
Explain how to measure the financial performance of insurers Technical
1 Describe the sources of income for property-casualty insurers 7 Technical
2 Describe the types of expenses property-casualty insurers incur 5 Technical
3 Explain how an insurer's gain or loss from operations is determined 1
Technical
4 Distinguish between the admitted and non admitted assets of insurers 3
Technical
5
Describe the three types of liabilities found on the financial statements of
insurers
2
Technical
6
Describe the typical items found on the balance sheets of property-casualty
insurers
3
Technical
7
Describe the typical items found on income statements of property-casualty
insurers
5
Technical
8
Given insurers' financial statements, calculate and explain the significance of
various profitability ratios
11
Technical
9
Given insurers' financial statements, calculate and explain the significance of
the capacity ratio
11
Technical
Academic Standards
Crosswalk
Secondary Gap Analysis
Rate Only the Performance
Element Standards
Any performance element rated a "1" or "N" needs plan of
improvement.
GAP ANALYSIS FOR 2013 STANDARDS
What needs to be done
PLAN OF IMPROVEMENT
Segment Titles
RATING'SCALE:'''
4"=""Exceeds"criteria"and/or"able""
"""""""to"teach"task""""""
3"=""Accomplishes"task"to"criteria""""
2"=""Accomplishes"task"with"help""""
1"=""Exposed"to"the"task""""""
N"=""Not"exposed"to"task""
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