Commencing with a recap of basic principles, the importance of COPE (Construction; Occupancy; Protection & Exposures to Surroundings) will be discussed in detail. The Fire & Special Perils policy & Property All Risks Wordings will then be analysed including extensions; endorsements; warranties & special covers like Reinstatement Value Basis; Floating Covers; Course of Construction; etc.
Rating of Property Risks module will include ways & means to ensure underwriting integrity in a soft market scenario.
Business Interruption (BI) is a very important but largely not well understood area of Property Insurance. This course intends to provide a clear & incisive look into the various BI terms; followed by an analysis of BI Specifications; Extensions and special topics like Insurance of Wages; New Business Clause; Insurance of Rents; etc. This will be followed with a look at Contingent Business Interruption Covers like ‘Denial of Access’; Suppliers’ & Customers‘ Extensions.
With the ‘New Normal’ which has emerged in the post COVID-19 world, it becomes necessary to ascertain how our mainstream policies are geared to handle pandemic situations & how we should adapt where necessary, this workshop also intends to address these important issues in the context of Property & Business Interruption insurances.