Technical Insurance Training Workshops

Transcription

1 Technical Insurance Training Workshops

2 We have designed this document to be as easy to navigate as possible. Please click on the name of the course below to go straight to that course. Contents Company Profile... 4 Additional Information... 5 Introductory Insurance Courses... 6 An Introduction to the Insurance Industry... 8 Credit Control Skills... 9 Introduction to Business Interruption Introduction to Claims Handling Introduction to Commercial Motor, Fleet & Motor Trade Insurance Introduction to Commercial Property Insurance Introduction to Commercial Property and Business Interruption Insurance Introduction to Construction Insurance Introduction to Contractors All Risks Introduction to Cyber Risks Insurance Introduction to Delegated Underwriting Introduction to Directors and Officers Liability Insurance Introduction to Employment Practices Liability Insurance Introduction to Engineering Introduction to Fire Risks Introduction to Global Insurance Introduction to High Net Worth Household Insurance Introduction to Household Insurance Introduction to Insurance Introduction Insurance Finance Introduction to Insurance Finance (continued) Introduction to Liability Insurance Introduction to Lloyd's and the London Market Introduction to Marine Cargo and Goods in Transit Insurance Introduction to Marine Hull Insurance Introduction to Motor Fleet Insurance Introduction to Personal Accident Insurance Introduction to Personal Accident and Travel Insurance Introduction to Policy Wordings and Preparation Introduction to Professional Indemnity Insurance Introduction to Professional Indemnity and Directors and Officers Insurance Introduction to Proportional Treaty Insurance Introduction to Reinsurance Legal Aspects of Claims Handling Marine Hull: Risk Assessment & Underwriting Marine Insurance in a Nutshell Principles of Insurance Understanding Captives Intermediate Insurance Courses Intermediate Business Interruption Insurance... 47

3 Intermediate Stockthroughput Insurance Intermediate Commercial Property Intermediate Contractors Insurance Intermediate Cyber Risks Insurance Intermediate Directors and Officers (including employment practices liability) Intermediate Employers Liability Insurance Intermediate Engineering and Inspection Intermediate Liability Insurance Intermediate Marine Cargo Insurance Intermediate Motor Fleet Insurance Intermediate Personal Accident Insurance Intermediate Professional Indemnity Insurance Intermediate Property and Casualty Reinsurance Intermediate Public Liability Insurance Intermediate Reinsurance Interpreting & Assessing Company Financial Statements Interpreting Company Accounts & Assessing Company Performance Lloyd's and the London Market - Stage London Market Legal Aspects Reinsurance Contract Wordings Reinsurance Law Underwriting Project Cargo insurance Advanced Insurance Courses

4 Company Profile Marlborough was founded by two directors experience in training from a background of senior operational management within general insurance. Their desire to provide quality training at affordable prices came from many years of purchasing mixed quality training. Marlborough works mainly within general insurance but also across other sectors including private, public and third sectors. We deliver well in excess of 1,400 training events each year and have over 16,000 people using our e-learning or materials. We work across with the whole breadth of general insurance including insurers, brokers, loss adjusters, broker networks and market bodies. We provide technical insurance training and business and management skills training at all levels including Board level. Our trainers are experienced in the subjects they teach, often from their own backgrounds and experience. Marlborough is different from many training companies in a number of ways. We; use trainers experienced in the subjects they teach provide interactive and supportive training don t charge cancellation fees to partner clients do not usually charge course development fees make sure the learning makes a real difference offer a full money-back guarantee are financially sound and sustainable We aim to establish a long-term partnership with our clients based on an understanding of what they do and how we can best help them. We work alongside the people and resources of our clients to deliver the greatest differences to the organisations

5 Additional Information We provide a wide range of services, not just face to face training or elearning. We aim to support our clients in a number of ways so that they can rely on us whatever they face. Our core activities include; Face to face interactive training workshops including bite size sessions Business training webinars and virtual classrooms Coaching and executive coaching Elearning using a wide range of technical insurance courses Production of quality HD training videos Building of interactive learning integrating bespoke materials and videos Organisational development including competencies Implant trainers who become part of the in-house team We can provide a very wide range of training as we aim to be a one-stop shop to many of our clients. Examples are listed here but this does not attempt to cover every single area of expertise in order to keep this document simple; Technical insurance underwriting, broking and claims topics Business and leadership subjects including nationally accredited programmes Executive development programmes and coaching IT and computer software skills Marlborough Training, alongside our friends at London Market Training, also work the CII and BIBA to provide face to face technical and business skills training. This reflects our commitment to the general insurance market as insurance professionals ourselves. All of our courses can be tailored or customised for you. We take the trouble to find out about your organisation and then build the workshop you need to meet your business goals. This document does not contain all of our courses and workshops

6 Introductory Insurance Courses Our introductory courses provide a basic introduction to insurance and particular types of insurance. They are particularly suitable for delegates who are new to the principles of insurance or are beginning to specialise. The courses are suitably paced for beginners and we use simple exercises and case studies to bring theory into practical context. All of our trainers are knowledgeable in their field and have the skills to not only educate and inform but to also encourage and inspire. We are more than happy to include a test at the end of any of these courses. This may be particularly relevant for clients who wish to evidence a level of technical understanding, post course. All of our courses can be adapted to meet your needs or alternatively we can create a new course to meet your precise criteria. Our full course portfolio does not appear in this document. If you are interested in a course that does not appear here please contact us. An Introduction to the Insurance Industry... 8 Credit Control Skills... 9 Introduction to Business Interruption Introduction to Claims Handling Introduction to Commercial Motor, Fleet & Motor Trade Insurance Introduction to Commercial Property Insurance Introduction to Commercial Property and Business Interruption Insurance Introduction to Construction Insurance Introduction to Contractors All Risks Introduction to Cyber Risks Insurance Introduction to Delegated Underwriting Introduction to Directors and Officers Liability Insurance Introduction to Employment Practices Liability Insurance Introduction to Engineering Introduction to Fire Risks Introduction to Global Insurance Introduction to High Net Worth Household Insurance Introduction to Household Insurance Introduction to Insurance Introduction Insurance Finance Introduction to Insurance Finance (continued) Introduction to Liability Insurance Introduction to Lloyd's and the London Market Introduction to Marine Cargo and Goods in Transit Insurance Introduction to Marine Hull Insurance Introduction to Motor Fleet Insurance Introduction to Personal Accident Insurance Introduction to Personal Accident and Travel Insurance... 35

7 Introduction to Policy Wordings and Preparation Introduction to Professional Indemnity Insurance Introduction to Professional Indemnity and Directors and Officers Insurance Introduction to Proportional Treaty Insurance Introduction to Reinsurance Legal Aspects of Claims Handling Marine Hull: Risk Assessment & Underwriting Marine Insurance in a Nutshell Principles of Insurance Understanding Captives

8 An Introduction to the Insurance Industry This course provides an introductory overview of the principle of risk transfer and takes a look at the different types of insurance and reinsurance available, the features of insurable risk and the make-up of the Lloyd s and International Insurance Market. The course has also been designed to introduce delegates to regulation and best practice and demystifies some of the most common acronyms and terminology. This course has been designed for delegates with no previous involvement in insurance. Workshop Content What is insurance? the history of insurance the risk transfer process and the features of an insurable risk (including insurable interest) reasons for compulsory insurance the benefits of insurance types of insurance available a breakdown of Marine & Aviation, Property & Casualty and Reinsurance products A brief introduction to reinsurance (facultative, treaty and XS of Loss) Insurance Principles indemnity proximate cause subrogation and contribution Utmost good faith The London & International Insurance Market types of insurers the way in which income is made and how it is reported Third parties and intermediaries a brief history of Lloyd s and the placing of business in the subscription market behind the Scenes, solvency, accounting and the Central Fund Regulation A brief history of insurance regulation and the role of the FCA and the PRA Statutory regulation including Anti Bribery & Corruption, conflicts of interest, money laundering, sanctions. Demystifying Acronyms and terminology Sources for further learning

9 Credit Control Skills Duration: 1 day This course is designed for people who would like to apply new skills and refine existing skills in relation to managing their book of debtors. The course covers planning; communication and the overall strategy of credit control, ensuring delegates are better equipped to collect outstanding funds in an effective and efficient manner. This course is suitable for anyone whose role involves the collection of debt who would like to improve the speed and success of settlements. The planning stage cash allocation and good housekeeping the use of the Aged Debt Report Pareto Analysis (80/20 rule) highest value and highest risk review of debtor liquidity and payment status review of funding position understanding and managing the business relationship offsetting and the rules of offset Telephone Techniques the advantages of personal contact vs. preparation the contact the importance of building a rapport with the decision maker timing The conversation preparation the approach excuses and how to deal with them the warning signs obtaining firm commitment to pay techniques- the use of open questions and listening skills applying pressure when and how note taking dealing with responses how best to acknowledge the importance of being firm, professional but calm Dealing with queries the importance of following procedure time frames for resolution - 9 -

10 Introduction to Business Interruption Duration: 1 day This course will be suitable for those already working in the field of Commercial Property but who wish to extend their work/knowledge into Business Interruption. Objectives: Delegates who attend this course will be better able to: Understand the concepts of Business Interruption insurance, the covers available and the principles of BI related claims handling. This course has been designed for delegates with previous involvement in Commercial Property insurance but no real experience of Business Interruption. Workshop content: a review of covers available including gross profit, increased cost of working and book debts a study of policy cover including extent of cover, conditions and exclusions applying and extensions available an outline of declaration linked covers and a review of Indemnity periods a useful introduction to risk assessment and rating commonly used an invaluable overview of risk management and contingency planning the principles of claims handling and the role of the loss adjuster in Business Interruption claims.

11 Introduction to Claims Handling Duration: 1 day This participative workshop seeks to build upon a base working knowledge of the delegates claims handling skills and experience to date. The claim is sometimes described as the moment of truth in the contract, where the customer determines whether their premium has been well-spent. It is the interpretation of the contract and as such it is vitally important to have staff members who are well-versed in claim handling skills and techniques and are sufficiently flexible to assist in the retention of business. Who Should Attend? Anyone who has some basic experience of claims handling and wishes to expand their knowledge in this area. Workshop Objectives By the end of the course delegates will be able to appreciate the role of the claims handler name the principles of insurance and how they apply to a claim recognise the importance of contract law and its impact upon claims handling describe dispute resolution procedures understand the importance of reserving outline the key differences between first and third party claims have an awareness of litigation procedures Workshop Content This workshop will contain numerous group exercises to assist in building of any existing knowledge held by delegates. outlining the legal principles governing the making of the claim how losses are measured through to application of indemnity the application of subrogation and contribution how the terms of an insurance contract are classified and the effect of breach including the application of the Insurance Act 2015 how claims arise through negligence and breach of statutory duty rules of contract interpretation pre-action protocols

12 Duration: 1 day Introduction to Commercial Motor, Fleet & Motor Trade Insurance This workshop is designed to provide delegates with an overview of the different types of commercial motor policy. It will show how cover varies and how different types of rating are applied. Some prior knowledge of private motor insurance will be an advantage but no knowledge of commercial motor is needed. This course has been designed for those who wish to become more widely involved with various types of commercial motor insurance. No prior knowledge is needed but some previous experience of motor insurance would be useful. Objectives: Delegates who successfully complete this workshop will be able to demonstrate the following competencies: understand the various types of commercial motor insurance cover available be aware of the typical hazards and issues affecting motor fleets and the motor trade be aware of the rating of commercial motor policies and the alternative rating for fleets understand how motor trade insurance is rated and the different covers provided know how policy cover varies across the different types of commercial motor policy know the effect of the MID on the motor trade be aware of the ways claims are handled for these types of insurance Learning outcomes Delegates will learn to: differentiate between the various types of commercial motor policy and how they differ from private motor policies understand how commercial policies are rated and assessed by insurers be aware of the main differences in cover between commercial motor, motor fleet and motor trade insurance see how the MID affects the motor trade be aware of claims handling issues for these types of cover

13 Introduction to Commercial Property Insurance Duration: 1 day The course is designed to put Commercial Property insurance in context and to introduce delegates to the operation and principles of Commercial Property insurance. This course has been designed for delegates with little or no previous involvement in Commercial Property insurance. A good grounding in insurance practices is desirable. Workshop content exploring the reasons why customers buy Commercial Property insurance a useful study of a typical policy structure as an overview an outlining of policy cover and the main exclusions and restrictions the principles of underwriting and pricing and the differences between the two the factors involved in the assessment of commercial risks the principles of claims handling as applied to Commercial Property insurance typical methods of investigation used in Commercial Property claims handling Learning Outcomes At the end of the course you will have: obtained a basic knowledge of Commercial Insurance gained a basic understanding of Commercial Insurance and covers available a basic understanding of the principles of underwriting Commercial Insurance and the factors involved in the assessment of commercial risks gained a basic understanding of the principles of claims handling in regard to Commercial property Insurance

14 Introduction to Commercial Property and Business Interruption Insurance This course puts Commercial Property and Business Interruption insurance in context. It introduces the delegates to the operation and principles of Commercial Property and Business Interruption insurance. This course has been designed for delegates with little or no previous involvement in Commercial Property or Business Interruption insurance. A good grounding in insurance practices is desirable. Workshop Content exploring the reasons why customers buy Commercial Property and Business Interruption insurance a useful study of typical policy structures as an overview an outlining of policy cover and the main exclusions and restrictions the principles of underwriting and pricing and the differences between the two the factors involved in the assessment of risks and rating commonly used the principles of claims handling as applied to Commercial Property and Business Interruption insurance typical methods of investigation used in Commercial Property and Business Interruption claims handling

15 Introduction to Construction Insurance To show an awareness of contract works insurance and the various ways insurers provide the cover as well as demonstrate an awareness of the content of the insurance clauses within the JCT contract and an understanding of the difference between contractual obligations and insurance requirements. Objectives: Delegates who successfully complete this workshop will be able to demonstrate; An awareness of the standard structure, and content of contract works and contractors liability insurance policies and the optional extras usually available and also demonstrate an awareness of the underwriting process and the information insurers require to assess and price risks. This one day interactive workshop is suitable for those who are relatively new to the subject. No previous contract works experience is required, but a good grounding in the basics of construction insurance should still be regarded as a pre-requisite. Workshop content: Subject matter need for separate insurance ways cover can be arranged parties and terminology Contract Conditions Parties involved employers, contractors, sub-contractors etc JCT standard form of contract overview of contractual obligation and insurance requirements for contract works, liability and plant. Contract Works Policy Cover usual cover, including exclusions and extensions some commonly found alternatives Liability Policy Cover usual cover, including exclusions and extensions Placing and Rating Risks key insurer information requirements good risks and bad risks contract works pricing methods

16 Introduction to Contractors All Risks This course provides valuable knowledge of contractors all risks insurance This course provides training for those who already have an awareness of Contract Works insurance, but who wish to add to this knowledge. Workshop content Subject matter Property; Contractors; Business Interruption Existing property/new buildings/extensions Existing fabric/the works/plant/parties to a contract. Risk Assessment: common building terminology/typical hazards and risks weather and ground conditions/relevant legislation Contract Conditions: relationship between parties employers, contractors, sub-contractors etc CT contracts Indemnity and Insurance provisions other contract conditions e.g. FIDIC, ICE Imech non-negligence risks detailed consideration of contractual obligation & insurance clauses Insurance Coverage: Contractors All Risks/Third Party Liability common policy exclusions and extensions design and maintenance coverage other insurances Employers Liability/21.2.1/Decennial Liability Business Interruption/Advance Loss of Profits Professional Indemnity/Performance bonds Underwriting/broking consideration: how risks are rated what information is required Claims

17 Introduction to Cyber Risks Insurance Duration: One day The modern business world is now heavily reliant on IT systems and infrastructure to support its business critical activities. Businesses also operate in a connected world where they and their employees make use of , social networking and cloud computing. All this leads to additional risks to the business, some of which is not customarily covered by existing insurance arrangements. This course looks at the cyber risk limitations and exclusions for typical and traditional corporate insurance cover and the specialist cyber insurance solutions currently available. Those who have an understanding of the principle of insurance together with a grounding in property, business interruption, general liability and errors and omissions insurances. By the end of the Programme delegates will be able to: identify which types of customer could benefit from insurance against cyber risks consider why businesses do not buy cyber policies describe the extent of cover provided by conventional insurance policies against cyber risks describe the policy cover, conditions and exclusions of specialist cyber risks insurance policies in the UK outline the major risk, underwriting and rating considerations of cyber risks insurance outline the main considerations when dealing with cyber risks insurance claims Course outline The course takes a practical and thought proving look at: what are cyber risks demystifying some terminology? what types of organisation are exposed to cyber risks? the cover provided by conventional insurance policies against cyber risks the cover, conditions and exclusions of specialist cyber risks insurance policies in the UK - covering third party and first party costs how cyber risks policies relate to other covers such as professional indemnity, business interruption and crime Insurers information requirements and underwriting considerations for cyber risks insurance the main considerations when dealing with cyber risks insurance claims

18 Introduction to Delegated Underwriting Duration: 1 day Delegated underwriting is an important feature of the Lloyd s market whereby a Managing Agent of a syndicate delegates its underwriting authority to a third party. This course helps delegates understand why insurers delegate underwriting authority and looks at the advantages and disadvantages of delegated underwriting, the key elements of a binding authority agreement, the legal aspects and the claims handling process. The course is highly participative and involves delegates in numerous exercises to cement their learning. There will also be ample opportunity to present questions and relate delegates own experiences of some of the more unusual situations that they have encountered. This workshop would be suitable for those who work for underwriters who outsource some of their underwriting or are involved in the setting up of binding authority agreement as well as those who are new to working for a Managing General Agent. Workshop Objectives To fully understand why insurers delegate certain aspects of their underwriting as well as its advantages and disadvantages to develop an understanding of the role of the coverholder and their relationship with underwriters including legal aspects to be familiar with the key elements of a binding authority agreement ensuring the underwriter/coverholder relationship is beneficial both parties successful management of conflicts of interest that can arise when binding authority agreements are used understanding the key aspects of the claim handling process when this is delegated to a coverholder. Course Content why delegate? Advantages and disadvantages of doing so. consideration of different types of binding authority agreements. what influences the choice of coverholder. management Information: Keeping underwriters informed oversight exercised by underwriters in their dealings with coverholders determining suitable levels of authority that coverholders can utilise how coverholders earn money and the management of any inherent conflicts of interest how and why claims authority can be delegated Conduct Risk considerations encountered when delegating underwriting authority

19 Introduction to Directors and Officers Liability Insurance This course focuses on who directors and officers are and their principle duties. The course introduces delegates to the benefits of Directors and Officers insurance and the coverage afforded and brings them up to date with recent changes in the law. This one day interactive workshop is suitable for delegates who are new to directors and officers liability insurance. Workshop content sources and types of claim against directors and officers Directors responsibilities relevant law, including corporate manslaughter and UK Company law reform Directors and Officers liability insurance policy key benefits Directors and Officers liability insurance proposal and underwriting process Directors and officers liability insurance policy coverage operative clause personal versus company reimbursement coverage definition of directors and officers principal exclusions principal extensions employment practices entity cover outside Board coverage

20 Introduction to Employment Practices Liability Insurance An ideal introduction to the subject of Employment Practices Liability Insurance This course has been designed for delegates with an interest in knowing about Employment Practices Liability, its associated risks and the methods of providing appropriate insurance cover. Workshop Content background to Employment Practices Liability Insurance changes in Employment Law relevant Employment Relations Acts employees increasing rights discrimination minimum Wage Directive human Rights Act 2000 data Protection Act Employment Practices Liability Insurance and the Buyer who is it for? company profiles statistics health check Markets and the products offered who are the sellers? what are the products? The Product cover extensions exclusions important definitions limit of indemnity claims made and costs inclusive basis Underwriting Issues concerns and issues for the underwriter rating typical claims and the level of payment

21 Introduction to Engineering The cover available for protection of pressure plant, lifting and handling and electrical/mechanical plant is discussed together with the need to dovetail with the property programme. Objectives: Delegates who successfully complete this workshop will be able to demonstrate; a fuller understanding of the regulatory requirements and protection afforded by the insurance policies. This course advises on the need for compliance with statutory inspection requirements and is suitable to those with only basic knowledge of the subject. Workshop Content Delegates who successfully complete this workshop will be able to demonstrate the following competencies: understand the principles associated with statutory inspection outline the main legislation relevant to these principles understand the need to dovetail property and engineering policies outline the typical cover and exclusions for different statutory plant and equipment What is included? an outline of the principles and quality issues associated with statutory inspections an outline of the main UK inspection requirements relating to pressure plant, lifting and handling and electrical/mechanical plant together with examples of the plant involved examples of defects discovered following the inspection an explanation of the cover provided by the basic boiler, crane and electrical policies a case study discussion to evaluate all aspects of the above

22 Introduction to Fire Risks Duration: One Day At the end of this one day course you will be able to: Session 1: Identify the main risks to property and some of the principal risk controls Outline the application of the following principles of insurance: Indemnity Insurable interest Utmost Good Faith Proximate cause Contribution Subrogation Describe how the principle of proximate cause applies when determining cover under a commercial property policy Explain why commercial property coverage is purchased Session 2: outline the perils covered under Fire/Commercial Property insurance identify what types of property are and are not covered under Fire/Commercial Property policies outline the principal extensions and exclusions which apply to Fire/Commercial Property policies Session 3: explain the difference between indemnity and reinstatement under a Fire/Commercial Property policy and how it impacts claims settlement and the setting of sums insured explain how insureds should establish the correct sums insured for buildings, machinery equipment and stock explain how the policy condition of average applies and why insureds must be aware of it compare excesses, deductibles and franchises outline the information required to obtain a Fire/Commercial Property quotation and the principal underwriting and rating considerations which apply explain how underwriters arrive at their rating for Fire risk explain the importance of Estimated Maximum Loss and calculations Session 4: distinguish between physical and moral hazards and provide examples describe some ways for businesses to manage the risks of damage to their commercial property more effectively outline the principal risk controls which reduce the risk of property damage apply Fire and Commercial Property wordings to simple claims describe how the principles of proximate cause, contribution and subrogation apply to property claims outline the property claims process and describe the role of loss adjusters and loss assessors

23 Introduction to Global Insurance Duration: One Day Whilst local policies go some way to meeting the needs of multinational businesses they do not provide uniformity of coverage or service for a business that trades on a truly global scale. This course has been designed to put the concept of global insurance programmes into context. The course introduces delegates to the structure, terms and concepts of global programmes and how customers could potentially benefit from them as an alternative to relying on local insurance arrangements. The course includes practical exercises to test understanding of the concepts. This course is suitable for anyone new to, or has limited experience or knowledge of, global insurance cover. Delegates will need to have some experience of property, business interruption, and liability programmes to get the most out of this course. Course objectives Delegates who attend this course will be better able to: identify which types of customer and insurance programmes could benefit from insurance cover arranged on a global basis describe the structure, terms and concepts of a global policy outline the main difference between workers compensation and employers liability outline the main differences between UK and US property/business interruption and liability programmes outline the main terms and concepts of arranging a global for EU countries Course content Consideration of: why companies buy global policies what types of business benefit from buying a global programme? which types of insurance can be arranged on a global basis the different structures of global programmes The terms and concepts of global policies: master policies multi-nationals local policies admitted/non admitted DIC/DIL tax/ premium allocations compulsory insurance How UK and US policies and terminology differ How pan European policies are arranged The main considerations when dealing with global insurance claims

24 Introduction to High Net Worth Household Insurance This course provides valuable background knowledge into high net worth insurance, which will help delegates make the most out the promotion and selling of high net worth products. Delegates also learn about general high net worth risks, the types of cover available, risk management, claims and customer care. This course has been designed for delegates with previous or ongoing involvement in high net worth insurance or understand the fundamentals of household insurance, i.e. cover, underwriting principles, claims handling etc. who wish to extend their knowledge. Workshop content: Delegates who successfully complete this workshop will be able to demonstrate the following competencies:- utilise marketing initiatives to maximise sales opportunities understand the importance of correct sums insured and cover appreciate the concept of risk and, specifically, its application to the provision of High Net Worth insurance understand and compare the standard policy covers, conditions and exclusions study, compare and contrast the High Net Worth policy covers, conditions and exclusions understand the concept of risk management and its application appreciate the importance of satisfactory claims settlement and explore methods by which this may be achieved consider practical claims issues explore the implications of fraud and strategies for reduction appreciate the importance of customer care in all aspects

25 Introduction to Household Insurance This one day interactive workshop provides an excellent introduction to the principles and practices involved in household insurance. It explores the aspects that need to be understood by those involved in providing basic technical or administrative services. This one day interactive workshop is suitable for delegates who are new to household insurance. Workshop content Delegates who successfully complete this workshop will be able to: outline the reasons why customers buy household insurance compare and contrast the methods of buying household insurance explain to customers, the layout of the policy, its format and structure outline the policy cover, conditions and exceptions buildings/contents know the extensions in policy cover that are readily available e.g. personal possessions, legal expenses, pets etc. recognise the principles of underwriting and how they apply to new and existing customers apply the principles of risk assessment and risk management describe the implication of losses on policy cover, conditions and exclusions consider the principles and procedure for handling claims describe the need, and the methods, by which claims are resolved satisfactorily

26 Introduction to Insurance This course has been designed to put insurance into context by introducing the delegates to the operation and principles of insurance and also to give delegates an understanding of insurance terminology. This course has been designed for delegates with no previous involvement in insurance. Workshop Content buyers, sellers and intermediaries in the UK insurance market outline the responsibility of an Agent identify the role of an intermediary the advantages and disadvantages for both the buyers and sellers of using an intermediary outline of the risk transfer process the features of an insurable risk types of insurance available in the market the reasons for compulsory insurance the benefits of insurance indemnity and benefit policies methods of providing settlement under policies limitations to the amount paid under policies i.e. sum insured, excess, deductibles. the extension of 'New for Old' and agreed values the importance of subrogation and contribution in the operation of Indemnity policies offer, acceptance and consideration Disclosure and Representations material facts insurance Premium Tax proximate cause in settling claims

27 Introduction Insurance Finance Duration: One day There is often a mystique and some fear about insurance finance, financial education is often viewed with reluctance and this core knowledge can be mistakenly overlooked (or avoided) until relatively late in a career. Consequently, levels of financial literacy can often be low in both operational/underwriting and business support roles. With the regulatory emphasis on prudential management, capital adequacy and with the impetus of Solvency II, financial competence is on the agenda. The Solvency II focus on risk based capital management is prompting a stronger and widespread desire for every part of the business to understand the numbers. Anyone in a management or technical role should understand why, how and where their actions can have a financial impact. Beyond the pure compliance with Solvency II there are progressive benefits for any insurer from its people right across the business being able to understand where the numbers come from, the ultimate measures of business success and how their own function contributes. This one day course is an introduction to the dynamics, language and processes of business and insurance finance. It explains the jargon, demonstrates how the basics still apply to insurance but highlights where it is unique from other industries, and how this is reflected in the financial reporting. It provides a solid foundation for further development of financial understanding. Insurance is an industry notorious for people working in specialist silos, especially when it comes to finance. This course is for all insurance practitioners who would benefit from understanding the bigger picture of insurance finance. Course Objectives By the end of the workshop, you will be able to: identify the financial characteristics that make insurance distinct from other industries describe the insurance cash flow cycle, and the main dependencies explain main accounting rules and how they are applied to measurement and reporting describe the key terms the language of insurance finance understand the estimation and dependencies of claims costs explain the financial treatment of premium and claims provisions navigate the technical account, profit and loss and balance sheet appreciate the requirement for solvency and capital adequacy

28 Introduction to Insurance Finance (continued) Workshop Content Insurance working capital cycle key accounting labels, concepts and rules the financial characteristics of insurance the mechanics of premium: written/earned, gross/net, unearned premium reserves acquisition costs and operational expenses the mechanics of claims: paid, outstanding and IBNR, prior year development the treatment of reinsurance investment considerations: types of assets and asset liability matching funded v accrual annual accounts constructing the P&L (technical and non-technical account) and interpreting the balance sheet liquidity, solvency and capital adequacy dissecting the Solvency II balance sheet. Approach The approach of the course is to blend input, discussion, short practical exercises and a case study to progressively build the principal financial statements through the course: modelling the behaviour of premium income, illustrating claims development, and assessing the balance sheet impact of different transactions. Participants need have no existing financial knowledge and receive a set of stand-alone notes, which are designed to both support the course and become a permanent reference tool

29 Introduction to Liability Insurance This course is designed to put Liability insurance into context and to introduce the delegates to the operation and principles of Liability insurance. This course has been designed for delegates with no previous involvement in Liability insurance. Workshop Content what is Liability? how Liability arises, including Common Law, Statute and Contract types of Liability Cover, Exclusions and Conditions for each Employers Liability Compulsory Insurance Act Limits of Liability Risk Assessment and Pricing USA exposures Industrial Diseases Risk Management and Health and Safety Legislation claims handling, the litigation process and the Woolf reforms

30 Introduction to Lloyd's and the London Market The course is designed to provide an understanding of the operation of Lloyd's within the Global Insurance Market. The course includes a brief history of Lloyd's up to the present day and the important role it plays. Those who are new to the industry, or those who would like to refresh their knowledge. It would also be suitable for support staff who would like to extend their knowledge in this area. Workshop Content: Operation of Lloyd's Syndicates what are they? the role of the Managing Agents investors, Corporate & Individual (names) Governance and Regulatory Bodies From Placing to Policy Broking in Lloyd's Leading Underwriter life of the Slip General Underwriters Agreement/LMP references and their purpose Policy issue and wordings dealing with alterations collecting premiums Behind the Scenes solvency accounting Central Fund Market Bodies/Market Agreements Claims the role of Xchanging the Claims procedure CLASS the chain of settlement Terminology a Summary

31 Introduction to Marine Cargo and Goods in Transit Insurance This course is made up of three sections: 1. Risk Assessment - the overall purpose of this session is to enable brokers to make full use of the quotation guide in order to secure the best possible terms and price. 2. ICCA - an in-depth analysis of the Institute Cargo Clauses (A) and reference will be made to the Marine Insurance Act 1906 that underpins the clause. It will also consider the impact of the London Market and broker wordings to show how the Institute Clause is amended. 3. Selling - the core subject for this session is overcoming client objections. It will also act as a refresher for previous sessions and provide a practical demonstration for knowledge gained, including: Workshop content Risk Assessment - the ability to understand and broke a Marine Cargo Insurance risk, including: practice of assessment technique the significance of terms of sale, overseas legislation, packing and despatch procedures an appreciation of the difficulties of high risk countries and non-sale movements handouts covering countries with known legislation, diagram of the terms of sale, quotation check list and IPT guide Institute Cargo Clauses: an appreciation of the Marine Insurance Act 1906 an understanding of Institute Cargo Clauses (A) an awareness of current market extensions Selling: examples of typical client objections and how to overcome them discussion on selling opportunities handouts including an aide memoir of the selling scenarios

32 Introduction to Marine Hull Insurance The aim of the workshop is to introduce delegates to the ship, methods of earning, risks to the ship, cargo and freight and some of the common issues that arise in the event of a loss. The course also refers to the Marine Insurance Act 1906 where appropriate. Those who have reasonably little experience of hull insurance or those who are already operating in the marine sector and would like to see the bigger picture. Workshop Content introduction to the ship types freight/earnings and types of charters ship owners insurable interest perils of the sea Main types of hull insurance ITC/IHC AIHC Norwegian Plan Protection and Indemnity Loss of Hire and Earnings Perils insured against and proximate cause Claims Issues partial and total loss Notice of abandonment collisions including third party liability and recoveries general principles of General Average, salvage and sue and labour onus of proof and insurers defences

33 Introduction to Motor Fleet Insurance Delegates who successfully complete this workshop will be able to demonstrate an awareness of what is a Motor Fleet and why separate insurance may be needed, an understanding of the various methods insurers use to price Motor Fleet risks, an understanding of the structure and usual content of Motor Fleet policy wordings, an awareness of the information Insurers usually require to consider risks and likely undesirable or unacceptable risks as well as knowledge of the various Motor Fleet risk management tools available. This course is designed as an introduction to Motor Fleet and would benefit those who are new to this type of work. Workshop content what is Motor Fleet and what are the advantages and disadvantages of providing insurance this way for customers and Insurers? which risks are unacceptable or undesirable for Commercial Motor, and particularly for Motor Fleet business? various methods used for pricing Motor Fleet business are examined including discounted book rates, formula rating, burning cost methods and partial covers. An examination of typical policy cover is provided, emphasising the differences with Commercial Motor Insurance. A study of risk management is included with particular reference to Motor Fleet surveys, driver training and use of excesses. An outline of claims handling methods

34 Introduction to Personal Accident Insurance This course provides an excellent introduction to the principles and practices involved in Personal Accident and Sickness insurance. It explores the aspects, which need to be understood by those involved in providing basic technical or administrative services. The course can be used as a good grounding for trainees or those who have potential to develop in their careers into more technically demanding work in the future. The principles covered are those, which apply as a basis for all Personal Accident and Sickness insurance. Workshop content What is Personal Accident & Sickness Insurance? What is the market and why do people purchase PA and sickness insurance? background and type of policy e.g. single, group, PA & sickness etc. Accident cover and Sickness cover a review of policy cover including the scope of typical cover and principles of non-indemnity insurance, including: features and benefits and policy extensions including levels of cover policy definitions conditions exclusions A useful guide to practical claims investigation, including; checking the claim form and claim documentation and checking policy cover including exclusions liaison with GPs and specialists and the importance of the accessing Medical Reports Act 1998 fraud indicators and the use of external investigators calculating benefits and settlements This section will include relevant case law and case studies

35 Introduction to Personal Accident and Travel Insurance This course serves as an introduction to Personal Accident and Travel Insurance. The course introduces delegates to the different types of cover available, underwriting principles and complaints handling. This course has been designed for delegates who have had limited exposure to personal accident and travel insurance. A good grounding in insurance practices is desirable. Workshop Objectives Delegates who successfully complete this workshop will be able to: outline the processes to be followed in relation to the issue and cancellation of policies outline the policy cover, conditions and exceptions Personal Accident and Travel recognise the principles of underwriting and how they apply to personal accident and travel insurance consider the principles and procedures for handling personal accident and travel claims outline common causes of complaints and how to avoid and deal with such situations Workshop Content Introduction to Personal Accident policies types of policies available Policy Cover Conditions and Exceptions Cover provided special consideration for Group policies special consideration for Sickness cover Introduction to Travel policies types of policies available Policy Cover, Conditions and Exceptions Cover provided special consideration for Group policies the principles of Underwriting Personal Accident and Travel Insurance dealing with complaints including FCA Regulations, Financial Service Ombudsman

36 Introduction to Policy Wordings and Preparation The workshop provides delegates with an insight to the preparation and processes involved in policy issue. To appreciate the underwriter s role and their considerations in the assessment of risk, how any adverse features may be addressed and a look at the latest developments in the processes used in the Lloyd s and London markets. Delegates will leave the workshop with improved knowledge of the fundamentals of the processes and considerations of intermediaries, underwriters and other parties involved in the insurance market. This workshop provides the ideal introduction to the transaction of insurance at Lloyd s, in the London market and in the company market of any new or in experienced members of staff. In addition, the course content provides a valuable insight for those involved in the insurance department of other organisations who place their business in London or elsewhere. Workshop content Policy structure the fundamentals of policy documentation including the role of endorsements and warranties the rules of policy interpretation documentation - proposal forms, slips through to policy issue levels of cover/types of policy policy wording variations the role of Xchanging Ins-Sure Services at Lloyd s standardisation of policy and endorsement wordings the aim for greater product certainty at inception the impact upon policy preparation of the London Market principles