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Commercial Insurance Policy Wordings – Introduction

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

This highly participative commercial insurance policy wordings training workshop concentrates on the interpretation of commercial 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 this commercial insurance policy wordings training workshop should bring with them at least one commercial lines policy that they are likely to use at work.

  • After attending this workshop, delegates will be able to:
    • Describe the main legislation and regulation that affects commercial lines insurance policies
    • Explain how commercial lines insurance policies incorporate and amend the general principles of insurance
    • Describe the structure of a commercial 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 commercial lines insurance policies.
  • Workshop Content includes:
    • Consideration of the legislation and regulation applicable to commercial lines policies including
      • The Principles of the Financial Conduct Authority ◦Treating
      • Customers Fairly
      • Contract Certainty
    • The Insurance Act 2015
    • The Financial Ombudsman Service
    • Consideration of the structure of a commercial lines insurance policy
      • Preamble or introduction
      • Definitions
      • Insuring/Operative/Cover Clauses
      • Claims Triggers
      • Exclusions
      • Conditions
      • Warranties
    • How the above are considered in relation to these insurances
      • Material Damage
      • Business Interruption
      • Employers & Public/Products Liability
    • How to compare different policy wordings
    • How to interpret policy wordings when dealing with claims
    • The consequences of breaches of insurance terms and underinsurance
    • Drafting endorsements to existing wordings.

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    +44 (0) 1372 361177