Commercial Crime; General & Financial Liability Insurances: Understanding; Underwriting; Selling & Servicing (P191223XUM)

The Asian Insurance market has traditionally been property focussed and liability and casualty lines have largely remained under developed. Heightened public awareness is leading to stringent legal liability regimes, as Singapore and other countries expand their laws on corporate governance and Tortuous Liabilities

Commercial Crime; CGL & Financial Liability Policies are comparatively new and are rapidly gaining importance in the market with Insured’s seeking appropriate insurance protection. This then involves a clear understanding of the Policy coverages, exclusions & buybacks.

While all Insurance Companies or Broking Houses routinely deal with requests for such coverages, the quality of product or the ability to write these policies with expertise and with the aim of profitable book building is mostly absent.

It is thus imperative that General Insurance Professionals be familiar not only with the Policy wordings; terms & conditions but also understand the “language” commonly used in this space.

The Facilitator’s classroom delivery will concentrate not only on theoretical aspects, but underwriting nuances of these complex policies will be presented with a number of practical examples; claim incidents & rating methodologies

Real Life Case Discussions will be used to reinforce the theoretical discussions had in the above modules such that participants are able to relate their learnings to actual live cases which they will handle upon return to their offices.

Start: Tuesday, 6 October 2020

End: Wednesday, 7 October 2020

09:00 AM - 17:00 PM
Virtual Training

Early Bird before 14 August

S$ 856

After FTS 95% Grant

S$ 96 Net to IG (incl. of $56 GST)

Overseas Based

S$ 830

Normal Registration

S$ 909.50

The course fee is eligible for Skill Future Credit claims.

Course Overview

The Asian Insurance market has traditionally been property focused and liability and casualty lines have largely remained under developed. Heightened public awareness is leading to stringent legal liability regimes, as Singapore and other countries expand their laws on corporate governance and Tortuous Liabilities

Commercial Crime; CGL & Financial Liability Policies are comparatively new and are rapidly gaining importance in the market with Insured’s seeking appropriate insurance protection. This then involves a clear understanding of the Policy coverages, exclusions & buybacks.

While all Insurance Companies or Broking Houses routinely deal with requests for such coverages, the quality of product or the ability to write these policies with expertise and with the aim of profitable book building is mostly absent.

It is thus imperative that General Insurance Professionals be familiar not only with the Policy wordings; terms & conditions but also understand the “language” commonly used in this space.

The Facilitator’s classroom delivery will concentrate not only on theoretical aspects, but underwriting nuances of these complex policies will be presented with a number of practical examples; claim incidents & rating methodologies

Real Life Case Studies will be used to reinforce the theoretical discussions had in the above modules such that participants are able to relate their learnings to actual live cases which they will handle upon return to their offices.

Training Agenda

  • Theory of Triggers – ‘Pure Claims-made’ triggers and Modification using Retroactive Dates; Extended Reporting & Discovery Periods
  • Crime – Casualty Exposures: Cash in safe; Cash in Transit; Employee Dishonesty / Fidelity Insurances; Understanding Fidelity Bonds
  • Crime – Property Exposures: Burglary; Theft & Housebreaking Insurance exposures; Inside / Outside Robbery concepts
  • Computer Crime – Cyber Crime & Cyber Extortion
  • CGL Policy Wordings & Coverage; Important Policy Exclusions and Buybacks
  • Pricing Commercial Crime & CGL Insurance Covers
  • The Civil Liability (PI) policy: Insuring Clauses; Exclusions; Writebacks; Extensions; Conditions; Limits of Insurance; Information Technology (Software) E&O Insurances
  • Project Professional Indemnities – Annual & Single Project PI
  • Management Liability (D&O): Insuring Clauses; Indemnification of D&O’s; Who is an ‘Insured’? Non-Executive or Independent Directors; Outside Directorship Liability (ODL)
  • Securities Actions – Initial Public Offerings; Derivative Claims; Coverage Issues; Major Shareholder Exclusions; Entity Cover
  • Financial Liability Policy Extensions: Automatic and Optional Extensions; Important Policy Conditions including Claims Conditions
  • Employment Practices Liability & Entity Cover
  • Pricing Professional Indemnity / E&O / D&O Policies in the Singapore Market
  • Case Studies & Group Work

For Whom

  • Brokers; Underwriters; Claims Managers; Corporate Risk Managers & Reinsurers who wish to enhance their practical understanding, refine their sales techniques & enhance their underwriting knowledge of these cutting edge products within a Casualty Lines Book of Business

Facilitator

  • SUHIRD KAMRA
  • An experienced International Property & Casualty Underwriter with expertise in Liability and Financial Lines of Business.
  • Has in-depth understanding of both the Asian and North American Property & Casualty Markets and has headed a large Commercial Team with a major Insurance Company in Canada and handled large Property & Casualty accounts.
  • Headed the Underwriting for Larsen & Toubro General Insurance Company which forms part of the world’s leading Engineering & Construction House handling major projects in India and across Asia, Africa & Middle East.
  • 30 years of rich practical experience in the Financial Sector – Banking & Insurance.