Property & Business Interruption Insurances: Underwriting; Rating & Selling these policies in a Competitive Market (P181211RCC)

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.

 

Start: Thursday, 27 August 2020

End: Friday, 28 August 2020

09:00 AM - 17:00 PM
Virtual Training

Early Bird before 07 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

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.

 

 

Training Agenda

  • Recap of essential  Property Concepts – Risk; Peril & hazard
  • Defined Perils; CAT perils & “All Risks”
  • Introduction to COPE – Construction; Occupancy; Protection & Exposure
  • Sum Insureds;  Deductibles;  Cash Value (Market value) vs Reinstatement or Replacement Values
  • Special Policies – Stock Floaters; Blanket Polices; Risks under Construction; etc.
  • Introduction to the Industrial All Risks (IAR) policies and how these differ from PAR
  • Rating of Property Risks
  • Basic Business Interruption Principles
  • Important BI Clauses & Endorsements
  • Insurance of Rents
  • Denial of Access & other Contingent BI covers
  • Case Studies & Group Work

For Whom

This course is intended for Underwriters, Brokers, Claims-handlers, Risk Engineers and Intermediaries who handle such lines of Business and wish to develop expertise in underwriting; rating & selling such policies.

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.