**Lesson Plan: Understanding Insurance - Hazard/Peril II**
**Grade:** Senior Secondary 1
**Subject:** Insurance
**Duration:** 50 minutes
**Topic:** Hazard/Peril II
**Objectives:**
- Students will be able to differentiate between different types of hazards and perils.
- Students will understand the impact hazards and perils can have on insurance policies.
- Students will be able to identify real-world examples of hazards and perils.
**Materials Needed:**
- Whiteboard and markers
- Projector and computer
- Handouts with key concepts and examples
- PowerPoint presentation
- Case study worksheets
- Internet access for supplementary videos or articles
**Lesson Outline:**
**Introduction (5 minutes)**
1. Begin with a brief review of the previous lesson on hazards and perils.
2. Define the key terms "hazard" and "peril" for new members.
3. Outline what will be covered in today's lesson.
**Direct Instruction (15 minutes)**
1. Use a PowerPoint presentation to go deeper into the types of hazards:
- Physical hazards (e.g., faulty wiring, slippery floors)
- Moral hazards (e.g., intentional damage or fraud)
- Morale hazards (e.g., carelessness or negligence)
2. Explain different types of perils that can be insured against:
- Natural perils (e.g., earthquakes, floods)
- Man-made perils (e.g., theft, vandalism)
3. Discuss how insurance companies assess these risks when creating policies.
**Guided Practice (15 minutes)**
1. Distribute handouts with real-world scenarios.
2. Break students into small groups and assign each group different sets of scenarios.
3. Ask each group to identify the types of hazards and perils in their scenarios and discuss how they would affect an insurance policy.
**Group Activity & Application (10 minutes)**
1. Bring the class back together and have each group present their scenarios and findings.
2. Facilitate a class discussion on the impact of these hazards and perils on both policyholders and insurance companies.
**Assessment (5 minutes)**
1. Provide a quick quiz to reinforce the concepts learned:
- Multiple choice questions on types of hazards and perils.
- Short answer questions on how different hazards and perils are assessed by insurers.
**Conclusion (5 minutes)**
1. Summarize the key lessons covered in the class.
2. Preview the next lesson, which will delve into how to mitigate risks associated with different hazards and perils.
3. Answer any remaining questions from the students.
**Homework:**
- Assign a set of reflective questions for students to answer, requiring them to identify and elaborate on hazards and perils in their own homes or communities.
- Ask students to read a chapter from their textbook related to hazard prevention and risk management for discussion next week.
**Additional Notes:**
- Ensure to tailor examples and case studies to be culturally and contextually relevant to the students.
- Encourage students to think about how insurance impacts both individuals and society.