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Application of Insurance Principles

Level:Introduction Duration:1 Day CII CPD Hours:6

This one day participative principles of insurance training workshop provides an excellent introduction to the principles and practices of insurance.

It’s suitable for staff working at technician/frontline insurance level with less than two years’ experience in insurance.

Our principles of insurance training workshop provides a good grounding for trainees and introduces to many of the subjects covered by the IF1 examination.

  • After attending this workshop, delegates will be able to:
    • Explain what insurance is and why it is important
    • Explain the concept and operation of:
      • Insurable interest
      • Utmost good faith
      • Indemnity
      • SubrogationContribution
      • Proximate Cause
    • Describe the nature and function of the documentation used in insurance.
  • Workshop content includes:
    • What insurance is and why customers buy it
    • Insurable interest:
      • When and how it arises
      • What distinguishes it from the subject matter of insurance
    • Utmost good faith:
      • The importance of disclosure of material facts
      • Those facts that do not need to be disclosed
      • The rights of the insurer in the event of non-disclosure or misrepresentation
      • How the FCA affects those rights of insurers
    • The underwriting process:
      • How underwriters obtain the necessary facts and their underwriting options
      • The internal and external factors that influence a premium rate
    • Indemnity
      • How indemnity is assessed
      • The principal limitations, e.g. sums insured, average clauses, deductibles/excesses, franchises, etc
      • The process of settling claims including the responsibilities of the insured and insurer
      • Why and how non-indemnity policies differ
    • Subrogation and Contribution
      • Their importance at common law and how they support indemnity
      • How policy terms and conditions modify their common law application
      • Different methods of calculating contribution
      • The operation of subrogation and contribution in simple claim scenarios
    • Proximate Cause
      • The principle of proximate cause and how it is applied to claims
    • The nature and function of the documentation used in insurance
      • Including policies, cover notes, certificates and endorsements
      • The general exclusions applicable to policies
      • The purpose and operation of policy conditions.

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    Contact Us

    +44 (0) 1372 361177