Underwriting and Risk Assessment - Introduction - Searchlight Insurance Training

Underwriting and Risk Assessment – Introduction

Level: Introduction

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


Delegates who successfully complete this workshop will be able to:

• outline the types of information generally required by insurers to successfully underwrite a risk and describe the various means insurers have of accessing this information

• outline the options available to underwriters at the different stages of the insurance process (Quotation, Acceptance and Renewal) from the perspectives of pricing and application of contractual terms and conditions

• recognise the principles of Contract Law as they relate to underwriting

• explain the reasons why a property survey may be required

• demonstrate how a risk is assessed from a survey

• define risk management and the benefits for the insurer and customer


• An Outline of the Information Required by Insurers and the Various Means of Accessing it

• The Options Available to Underwriters at Inception of Cover, Renewal of the Policy and During the Policy Term:

• Acceptance of Cover
• Pricing of the Policy
• Terms and Conditions to be Applied

• Explanation of the Basics of Policy Documentation and its Interpretation

• Exploration of the Principles of Contract Law as they Particularly Relate to Underwriting

• Explanation of why Surveys are Carried Out and the Types of Reports Produced

• Features a Surveyor Looks for by Class of Business

• Consideration of Possible Risk Improvements and Their Purpose, e.g. Intruder Alarms, Sprinkler Systems

• An Introduction to Risk Management, What it Means and the Benefits to insurers and Customer