Lesson Notes By Weeks and Term - Senior Secondary 1

Contribution

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Term – 2nd Term

Week: 8

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Insurance

Topic:-       Contribution

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Define contribution
  2. Discuss how contribution may arise
  3. Discuss the application of contribution

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on subrogation

Students pay attention

STEP 2

EXPLANATION

He defines contribution and discusses how it may arise

 

 

Students pay attention and participates

STEP 3

DEMONSTRATION

He discusses the application of contribution

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

CONTRIBUTION

It simply means a situation whereby an insured could get compensation from two different insurer in respect of same property of loss should occurs his recoveries should not exceed his actual loss sustained. The insured is not allowed to make gain from the process.

HOW CONTRIBUTION MAY ARISE

  1. Availability of many policies of Indemnity

The availability of many policies covering a loss cause insurance policy contribution to cause There must be existence of many indemnity policies for contribution to be effective.

  1. The coverage of common interest

Insurance policy of common interest attract the principles of contribution to take effect there must be exciting interest.

  1. The coverage of common Perils

Contribution also arises when there is coverage of a perils in an insurance contracts. The coverage of insurance policy must however not be ambitious contribution take place when a common perils is covered by an insurance policy

  1. The coverage of common subject matter. –

The presence of common subject matters in insurance policy allow for contribution. This policy covers the subject matters of insurance contract therefore it will attract contribution.

APPLICATION OF CONTRIBUTION

Contribution principle in insurance is a rule that specified what happens when a person buy or Subscribe to an insurance policy for multiple companies cover the same events and that even occurs ,if the policy holder files a claim with one company is entitled to collect proportional amount of money from the other involve insurance company

EVALUATION:    1. Define contribution

  1. Discuss four ways contribution may arise
  2. How can contribution be applied?

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively