Application of Insurance Principles - Searchlight Insurance Training

Application of Insurance Principles

This one day participative workshop provides an excellent introduction to the principles and practices involved in insurance. It will be suitable for staff working at technician / front line insurance level with less than 2 years experience in insurance.

The workshop can be used as a good grounding for trainees and will provide an introduction to many of the subjects covered by the IF1 examination.

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6


Delegates who successfully complete this workshop will be able to:

Explain what insurance is and why it is important

Explain the concept and operation of
• Insurable interest
• Utmost good faith
• Indemnity
• Subrogation
• Contribution
• Proximate Cause

Describe the nature and function of the documentation used in insurance



• What insurance is and why customers buy it

• Insurable interest:
– When and how it arises
– How it is distinguished from the subject matter of insurance

• Utmost good faith:
– The importance of disclosure of material facts
– Those facts that do not need to be disclosed
– The rights of the insurer in the event of non-disclosure or misrepresentation
– How the FCA affects those rights of insurers


• The underwriting process
– How underwriters obtain the necessary facts and their underwriting options
– The internal and external factors that influence a premium rate

• Indemnity
– How indemnity is assessed
– The principal limitations, e.g. sums insured, average clauses, deductibles/excesses, franchises, etc
– the process of settling claims including the responsibilities of the insured and insurer
– why and how non-indemnity policies differ

• Subrogation & Contribution
– Their importance at common law and how they support indemnity
– How policy terms and conditions modify their common law application
– Different methods of calculating contribution
– The operation of subrogation and contribution in simple claim scenarios

• Proximate Cause
– The principle of proximate cause and how it is applied to claims

• The nature and function of the documentation used in insurance
– Including policies, cover notes, certificates and endorsements
– The general exclusions applicable to policies
– The purpose and operation of policy conditions