Commercial Property Insurance - Advanced - Searchlight Insurance Training

Commercial Property Insurance – Advanced

This workshop, through the use of more complex case studies and claims examples, explores in more detail certain elements of the Property Damage policy cover.

Who would benefit from attending?

Brokers who would like to continue to improve /develop their current Property Damage skills. This course looks to build on elements which would have been covered in Introductory and Intermediate level Property Damage courses. It is also suitable for the more experienced broker who may be looking for a refresher on current PD underwriting issues.

Level: Advanced

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

WORKSHOP OBJECTIVES

Delegates will be able to:

•Discuss favourable and unfavourable features of a risk.
•List criteria applicable in assessing the adequacy of sums insured.
•Fully understand /discuss exclusions and clauses contained within the policy wording.
•Prepare a better standard of risk presentation

WORKSHOP CONTENT

Emphasis will be placed on issues such as:

Underwriting the more complex property risks

Getting the sums insured right including
•when to use indemnity, reinstatement or first loss basis of cover
•issues with listed properties,
•insuring complex /old machinery and computer systems,
•alternative methods of insuring stock, floating covers – multi locations
•Theft sums insured
•Inflation protection – Is Day 1 cover always the best option?

Getting the policy package right
•Understanding the All Risks Policy cover
•Being aware of the critical exclusions
•Extending the basic cover through the use of supplementary  clauses
•Understanding the impact of critical supplementary clauses

Underwriting the Risk
•The risk selection process – Surveying the risk
•What types of risks are likely to be acceptable / avoided?
•MMC- modern methods of construction – current views on  sandwich panels(C.I.P.)
•Heating and security systems
•Favourable / unfavourable aspects which may influence acceptance or the final premium
•Making “unacceptable business” acceptable.

Getting the presentation right first time
•Understanding the risk
•Getting the details right
•Aspects likely to influence the Underwriter

Sharing the risks
•Methods available for sharing the larger or less desirable risks

Fire protection
•Current Fire Regulations
•Sprinklers