Motor Fleet Insurance - Advanced - Searchlight Insurance Training

Motor Fleet Insurance – Advanced

This workshop is intended for staff who are conversant with the placing and administration of Motor Fleet business.

It will give delegates an opportunity of discussing topics of common interest relating to Motor Fleets including presenting fleets to underwriters and negotiating terms.

It will provide delegates with a set of tools that will enable them to estimate and forecast premiums. It also examines the detail of the covers and extensions available on the fleet market.

The workshop is participative, involving cases studies and calculations, with plenty of opportunities for delegates to contribute and share opinions.

Level: Advanced

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

WORKSHOP OBJECTIVES

  • Identify and recommend cases where fleet rating is advantageous to the customer
  • List and describe the advantages and disadvantages of fleet rating and what is the better option for individual clients
  • Explain how an underwriter will use Run-off and IBNR in arriving at terms for a fleet.
  • Explain the structure and usual content of motor fleet insurance policies issued by the major players.
  • List the features that affect underwriters’ acceptance and attitude towards motor fleet risks and how an effective presentation can assist with the placing of fleet risks.
  • Describe the methods available to risk managers to enable them to improve the claims experience of a motor fleet

WORKSHOP CONTENT

  • An examination of compulsory motor insurance legislation and other recent legislation that affects motor insurance and fleets in particular.
  • A comparison of fleet rating with NCD – the features and benefits of both
  • A detailed analysis of experience to identify trends and possible reasons for any unusual movements using a three year confirmed claims experience.
  • Using a 3 year experience, calculation of projections and provisional premiums taking account of trends in experience, IBNR and run off
  • Study of the types of remedial action available to underwriters/risk managers
  • In-depth examination of motor fleet policy wordings, exclusions and popular extensions
  • Illustrations of how motor fleet risks can be presented to underwriters