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509 - Insurance Law (2 hours)
Risk is pervasive and where there is risk, there is insurance: personal injury, real estate construction, securities laws, terrorism, natural disasters, health care, and even death. Insurance addresses all of these risks through pooling and thereby diversifying the risk and shifting calamitous risks to individuals or corporations to risk-neutral insurance companies. Coverage includes first-party insurance, such as life and health insurance, third-party liability coverage, such as the commercial general liability policy, and hybrids, such as automobile and homeowners' insurance.