Motor Fleet Insurance - Intermediate - Searchlight Insurance Training

Motor Fleet Insurance – Intermediate

This workshop is aimed at delegates who already have experience of handling motor fleet business.

As a result of this workshop, delegates will feel confident about presenting fleets to underwriters and discussing terms. 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 to contribute and share opinions.

Level: Intermediate

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

WORKSHOP OBJECTIVES

• Identify and recommend cases where fleet rating is advantageous to the customer

• Calculate provisional premiums for motor fleet risks to support negotiations with underwriters

• Explain the relevance of IBNR and run off in motor fleet premium calculations

• Explain the structure and usual content of motor fleet insurance policy wordings, including popular extensions

• List the features that affect underwriters’ acceptance and attitude towards motor 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 with particular reference to MID, RTA 1988 and EU Directives

• 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 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

• An examination of the special needs of fleets in the claims handling process