Technical Insurance Knowledge and Skills

Contract Works Insurance - Intermediate (BROKER ACADEMY)

This participative workshop is for those with some practical experience of handling or placing contract works insurance, but who are looking to add to this knowledge. It provides a structured overview of the subject which will act as either a learning opportunity for those less experienced or a refresher for the more experienced.

Whilst no previous contract works experience is required a good grounding in the basics of commercial property and liabilityinsurance is a prerequisite

WORKSHOP OBJECTIVES

• Show an awareness of contract works insurance and the various ways insurers provide the cover

• 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

• Demonstrate an understanding of the standard structure and content of contract works insurance policies and the optional extras usually available

• Show an understanding of the underwriting process and the
information insurers require to assess and price risks

WORKSHOP CONTENT

• Subject Matter:
Need for separate insurance, Risks/property insured, Ways cover can be arranged, Parties and terminology

• Contract Conditions:
Parties involved, JCT 2005 standard form of contract, Other Contracts, JCT Minor Works, JCT Intermediate, JCT Sub-Contract forms, Earlier versions of JCT contracts

• Policy Cover – Contract Works:
Usual cover, exclusions, extensions; Common alternatives; Maintenance covers; Defects exclusions

• Placing and Rating Risks:
Key insurer information needs; Good risks and bad risks; Contract works pricing; Selling cases to underwriters

Duration: 1 day(s).  Level: Intermediate

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