Contract Works Insurance (Contractors All Risks) – Intermediate - Searchlight Insurance Training

Contract Works Insurance (Contractors All Risks) – Intermediate

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

Level: Intermediate

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

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, Insurance requirements for Works & Plant under JCT 2011 standard form of contract; Other Contracts; JCT Minor Works;  JCT Intermediate

• 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