IMIA Engineering Underwriting Training Course

Transcription

1 11 15 March 2013 in Berlin Course Time Schedule Stand 09/12

2 Course Programme Details Session 1 - Monday h - Introduction to Engineering Insurance Utz Groetschel Introduction of participants and lecturers Engineering insurance o History o Main lines of business o Markets o Statistical overview Session 2 - Monday h - Operational Covers: Machinery & Electronic Equipment Insurance and All Risks Cover - Peter Wassmer, Nationale Suisse Scope of application Wordings / structure / special policy conditions o Machinery Insurance o Electronic Equipment Insurance o IAR Industrial All Risks / Comprehensive Machinery insurance Determining Sums Insured Determining loss and indemnity amount Understanding and application of rates Key underwriting aspects Session 3 - Tuesday h - Operational Insurance (Workshop) Andrew Kane, HSB Case example o Underwriting o PML Assessment o Risk Management, risk mitigation of loss cases Session 4 - Tuesday h - Business Interruption - Peter Wassmer Principles of MLoP and FLoP Definition of Sums Insured Time excess / deductible Indemnification following Loss of Gross Profit / ICOW Standard extensions and conditions Special extensions o Maximum demand charges o Suppliers / customers extension 2

3 o Other Session 5 - Tuesday 14-16h - Project Insurance, EAR, CAR - Patrick Bravery, Talbot Principles & scope of cover of All Risks insurance of construction / erection projects Multiyear / multi line / multiple insureds Policy structure and features o Sum insured o Deductibles o Insurance period (construction, testing, maintenance) o Policy sections (contract works, TPL, ALOP) Endorsements, special clauses, conditions, exclusions Underwriting information (technical data, time schedule, site conditions, natural hazards etc.) Session 6 - Tuesday h - Third Party Liability under Project Insurance Cover Peter Wedge, Infrassure Principle basics of cover under CAR/EAR/Project policies Exposure / Exclusions Cross liability / surrounding property aspects of risk cases Delimitation against Comprehensive Liability Insurance Covers Session 7 - Wednesday h - Risk Exposure to Natural Catastrophes (Nat Cat) Michael Buchholz, Allianz Perils o Earthquake, storm, rain storm, flood, hail, lightning o Map of natural hazards o Importance of considering details of location (near sea, rivers, flat areas or mountains etc.) o Importance of weather records Risk assessment Session 8 - Wednesday h - Project Risk Assessment: Case Examples (Workshop) - Christian Müller, XL Insurance Technical project details and Technology EPC contracts (Erection, Procurement) Site exposure Time schedule Project management o Protection measures / Loss minimisation 3

4 o Loss control engineering Session 9 - Wednesday h - Risk Management - Roger Barrett, Charles Taylor Operational Risk Management o Setting up responsibilities o Fire protection o Machinery protection o Other Loss prevention measures and emergency plans o Outline of Risk Survey Project Risk Management o Progress reports o Site visits / safety management / fire protection o Risk aggravation aspects o Outline of Risk Survey o Contingency plans Session 10 - Wednesday h - PML, EML Assessment - Eric Benz, SCOR Principles, definitions Evaluation of individual perils and working out the maximum for various covers and risk types Session 11 - Thursday 8: h - Project Insurance, special coverage aspects / options Robert Abt, Munich Re Defects liability / maintenance covers (recap of session 5) Property insured taken into use or operation Variations of Design cover Property belonging to or held in the care, custody or control of the insured Professional Fees, Plans and Documents Removal of Debris Off Site Storage Contractors plant and equipment Inland Transit Inclusion of marine cargo cover Session 12 - Thursday h - Project Underwriting: Case Examples (Workshop) Stephan Lämmle, Munich Re Slip analysis Rating components Basic rate 4

5 Loadings for risk details and extent of cover Deductibles and influence on rate Deductions (e.g. brokerage) Extensions of period / prolongations Drafting of an insurance offer / quotation Session 13 - Thursday h ALoP / DSU Advance Loss of Profits / Delay in Start Up - Rüdiger Promm, Allianz Basic considerations What delay is covered what is not Kinds and evaluation of Sum Insured How Indemnity period and Time excess are defined Special Extensions Time Schedule Risk Assessment Risk management and loss minimisation Session 14 - Thursday h - Claims Reserving, IBNR - Jürg Buff, Partner Re Claims handling as regards reserving Allocation of claim to risk, underwriting year, year of occurrence or year of payment Session 15 - Friday Examination / Test of participants - Utz Groetschel Session 16 - Friday h - Trends & Developments in Engineering Insurance Oscar Treceno, IMIA Chairman, Nationale Suisse Trends observed in recent years Technology related influences Market trends Session 17 - Friday h - Seminar summary & farewell - Oscar Treceno Feedback from Participants Handover of Certificates Closure of Seminar Total duration of sessions: 27 h