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Insurance Broking Practice

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

This one-day participative insurance broking practice training workshop provides an excellent introduction to the principles and practices involved in insurance broking. It is suitable for staff working at technician / front line insurance level with more than two years’ experience in insurance.

Our insurance broking practice training workshop provides a good grounding in the theory and practice of insurance broking and an introduction to many of the subjects covered by the P81 examination.

  • After attending this workshop, delegates will be able to:
    • Describe the legal duties of insurances brokers, differentiating between retail/wholesale producing/placing brokers
    • Describe the role of the Financial Services Authority the main elements of ICOBS distinguishing between the different rules for consumers, commercial customers and contracts of large risks
    • Explain the purpose of the Financial Services Compensation scheme
    • Identify how complaints and errors and omissions can arise and how to deal with them
    • Identify the main components of insurance programme design
    • Explain the major considerations in selecting an insurer panel and an insurer for a specific risk
    • Explain how to deliver contract certainty to clients
    • Describe the role of the insurance broker in claims handling
    • Outline the risk management and other consultancy services brokers can offer
  • Workshop content includes:
    • How the law applies to brokers
      • To the insured, the underwriter, to other brokers
      • The main elements of terms of business agreements
    • The regulation of brokers for different types of client and business
    • The Financial Services Compensation scheme and how it applies to different types of client and business
    • Complaints procedures and the Financial Ombudsman Service
    • Errors and omissions
      • How they can arise
      • How to deal with them
      • How to avoid them
    • Insurance programme design
      • Excess layers and umbrella policies
      • Global programmes
    • Selecting insurers
      • Panels
      • Specific risks
      • Fair analysis
    • Placing risks
      • Assessing clients demands and needs
      • Submissions to insurers
      • Presenting terms to clients
      • Contract certainty
    • Claims
      • The brokers duties
    • Risk management and consultancy services
      • Benefits to clients
      • Captive Insurance Companies

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+44 (0) 1372 361177