Commercial Insurance Policy Wordings - Introduction - Searchlight Insurance Training

Commercial Insurance Policy Wordings – Introduction

This highly participative workshop concentrates on the interpretation of commercial insurance policy wordings which can be used when comparing alternative policy wordings or considering the finer detail of a wording, possibly in a claims situation.

Although no specific insurance knowledge is required, a good level of knowledge of the general insurance principles is recommended.

Delegates attending should bring with them at least one commercial lines policy that they are likely to use at work.


Level: Introduction

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

Delegates who successfully complete this workshop will be able to;

  • Describe the main legislation and regulation that affects commercial lines insurance policies
  • Explain how commercial lines insurance policies incorporate and amend the general principles of insurance.
  • Describe the structure of a commercial lines insurance policy
  • Describe the consequence of breaching insurance policy terms and how these are affected by compulsory insurance requirements
  • Outline the main considerations when drafting/interpreting amendments to commercial lines insurance policies

Consideration of the legislation and regulation applicable to commercial lines policies including

  • The Principles of the Financial Conduct Authority
    • Treating Customers Fairly
    • Contract Certainty
  • The Insurance Act 2015
  • The Financial Ombudsman Service


Consideration of the structure of a commercial lines insurance policy

  • Preamble or introduction
  • Definitions
  • Insuring/Operative/Cover Clauses
    • Claims Triggers
  • Exclusions
  • Conditions
  • Warranties


How the above are considered in relation to these insurances:

  • Material Damage
  • Business Interruption
  • Employers & Public/Products Liability


How to compare different policy wordings


How to interpret policy wordings when dealing with claims.

  • The consequences of breaches of insurance terms and underinsurance


Drafting endorsements to existing wordings