Personal Insurance Policy Wordings - Introduction - Searchlight Insurance Training

Personal Insurance Policy Wordings – Introduction

This highly participative workshop concentrates on the interpretation of personal 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 personal lines policy that they are likely to use at work.

Level: Introduction

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

WORKSHOP OBJECTIVES

Delegates who successfully complete this workshop will be able to;

  • Describe the main legislation and regulation that affects personal lines insurance policies
  • Explain how personal lines insurance policies incorporate and amend the general principles of insurance
  • Describe the structure of a personal 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 personal lines insurance policies

WORKSHOP CONTENT

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

The Principles of the Financial Conduct Authority

  • Treating Customers Fairly
  • Contract Certainty
  • The Consumer Insurance (Disclosure and Representations) Act 2012
  • The Insurance Act 2015
  • The Financial Ombudsman Service

Consideration of the structure of a personal lines insurance policy

  • Preamble or introduction
  • Definitions
  • Insuring/Operative/Cover Clauses
  • Exclusions