Contents      

About insurance

This section explains what insurance is, the types available and where and how it can be bought. Click on the workbook to find out more.

• What is insurance?
• Where can insurance be bought?
• How is insurance bought?
• Types of insurance

About insurers

This section considers the role of an insurer and the types of insurer found in the market place.  Click on the workbook to find out more.

• What is an insurer?
• Types of insurer
• Direct insurers

Captives and reinsurers

Other organisations and industry regulation

This section looks at the range of organisations found in the industry and how the industry is regulated.  Click on the workbook to find out more.

• Other organisations in the insurance industry
• Operational support organisations
• Industry bodies
• Regulation

CONTENTS

1. Introduction

2. Buildings Cover

3. Exclusions to Buildings Cover

4. Alternative Accommodation, Loss of Rent, Trace and Access and Debris Removal Costs

5. Architects’ Fees, Garden Cover, House Sales and Third Party Liability

6. Buildings – Sums Insured

7. Contents Cover

8. Contents – Extra Cover

9. Contents – Features Differing from Standard Policies

10. Contents – Valuables

11. Contents – Valuables – Assessing Value

12. Underwriting – Buildings

13. Underwriting – Contents and Valuables

14. Legal Liabilities

15. Legal Expenses

16. Travel

17. Small Craft, Caravans and Second Homes Abroad

18. General Conditions

19. General Exclusions

20. Claims

Contents

Types of general insurance

This section explains what general insurance is, how it differs from life assurance and distinguishes between personal and commercial lines business. Click on the workbook to find out more.

•          What is ‘general insurance’?
•          Personal lines insurance
•          Commercial lines insurance

Insurers and intermediaries

This section explores the types of insurers and intermediaries found in the UK general insurance market and introduces regulation of the market. Click on the workbook to find out more.

•          Non-Lloyd’s insurance companies
•          Direct writers, captives, Lloyds and reinsurers
•          Insurance brokers and other intermediaries
•          Regulation of the insurance market

Service providers

This section explains the types of service providers in the UK general insurance market and outlines the role they play in the market. Click on the workbook to find out more.

•          Third party administrators
•          Loss adjusters
•          Loss assessors
•          Lawyers and solicitors

Contents

Employers’, Public and Products liability

This section outlines the products available in the general insurance market to cover a business’s EL, PL and Products liability risks. Click on the workbook to find out more.

•          Employers’ liability insurance
•          Public liability insurance
•          Products liability insurance

Professional indemnity, Directors’ and Officers’ liability and Fidelity guarantee insurance

This section outlines the products available in the general insurance market to cover a business’s professional indemnity, directors’ and officers’ liability and fidelity guarantee risks. Click on the workbook to find out more.

•          Professional indemnity insurance
•          Directors’ and officers’ liability insurance
•          Fidelity guarantee insurance

Pollution, Cyber insurance and Commercial legal expenses insurance

This section outlines the products available in the general insurance market to cover a business’s pollution and cyber risks and to provide cover for commercial legal expenses. Click on the workbook to find out more.

•          Pollution
•          Cyber insurance
•          Commercial legal expenses insurance

Contents

Pollution Risks

This section outlines what we mean by ‘pollution risks’ and examines the cover provided under commercial insurance policies.  Click on the workbook to find out more.

What are pollution risks?

First party cover under material damage and BI insurance

Third party liability insurance cover

Other sources of pollution cover

Legislation and case law

This section outlines the legislation relating to pollution risks and the effect of the ‘Bartoline’ case on public liability policy wordings. Click on the workbook to find out more.

The Environmental Protection Act 1990

The Environmental Damage (Prevention and Remediation) Regulations 2009

Public liability (the ‘Bartoline’) extension

Environmental Insurance Policy Covers

This section explains the main types of environmental insurance policies available. Click on the workbook to find out more.

Environmental insurance

Historical pollution

Operational risks

Remediation cost cap/stop loss

Contractors’ pollution liability and ‘COPS’ policies

Business-based liability

The need for cyber insurance

This section outlines the four types of cyber risk and explains the need for insurance. Click on the workbook to find out more.

What are cyber risks?

Who needs cyber insurance?

How cyber risks affect a business

The potential costs of online activities

Cyber insurance policy cover

This section explains the cover which can be provided by a cyber insurance policy. Click on the workbook to find out more.

Insurance solutions for cyber risks

What does a cyber insurance policy cover?

Potential overlaps between cyber insurance and other types of insurance

Policy exclusions

Underwriting and managing cyber risks

This section outlines the information required to underwrite a cyber risk and identifies how a business can effectively manage their cyber risks. Click on the workbook to find out more.

Underwriting cyber insurance

Cyber risks and SMEs

Cyber risk management

Contents

The Data Protection Act and organisations’ responsibilities

This section introduces the Data Protection Act and explains the responsibilities it places on organisations which hold information. Click on the workbook to find out more.

• The Data Protection Act (DPA)
• Terminology used in the DPA
• Responsibilities of organisations under the Data Protection Act
• Notification and registration

Individuals’ responsibilities under the Data Protection Act and the 8 Data Protection Principles

This section explains the responsibilities of individuals under the Data Protection Act and outlines the 8 principles for protecting data. Click on the workbook to find out more.

• Responsibilities of individuals
• The 8 Data Protection Principles
• Fair and lawful processing
• Exemptions: countering financial crime and legal disclosure

The rights of the individual under the Data Protection Act

This section explains the rights of individuals under the Data Protection Act and outlines the implications for direct marketing, identity protection and breaches of the Act. Click on the workbook to find out more.

• The rights of the individual
• Direct marketing
• Identity protection
• Breaches of the DPA

Contents

Conflicts of interest

This section explains what constitutes a conflict of interest and how they arise in the insurance industry. Click on the workbook to find out more.

Conflicts of interest

Why general insurance is particularly susceptible to conflicts of interest

Particular conflicts in the agency relationship and market practice

Regulation

This section explains the regulatory approach to conflicts of interest. Click on the workbook to find out more.

Why conflicts of interest are currently an issue

FCA regulation relating to conflicts of interest

ICOBS rules

FCA concerns and a market solution

Handling conflicts of interest

This section explains how to handle conflicts of interest. Click on the workbook to find out more.

Methods of dealing with conflicts of interest

Key elements of a conflict of interest policy

Overriding principles and definitions

Responsibilities and Procedures

What is conduct risk?

This section explains what conduct risk is, where it can arise and its basis of regulation. Click on the workbook to find out more.

What is conduct risk?

Where does conduct risk arise?

How is conduct risk regulated?

Managing conduct risk

This section outlines the FCA’s expectations for managing conduct risk and describes the risk management cycle. Click on the workbook to find out more.

Conduct risk - the FCA’s expectations

Conduct risk and treating customers fairly (TCF)

Managing conduct risk

The risk management cycle

Conduct risk responsibilities throughout a firm

This section explains conduct risk responsibilities at all levels within a firm. Click on the workbook to find out more.

Who is responsible for managing conduct risk?

Key business areas for conduct risk focus

The implications for all staff

Conduct risk management in practice and the benefits to a firm

This section explains conduct risk responsibilities at all levels within a firm. Click on the workbook to find out more.

Minimising conduct risk in practice - sales and after-sales service

The benefits of good conduct risk management

Current FCA priorities for conduct risk management

The risks to client money

This section explains the regulatory approach to the risks of handling client money.  Click on the workbook to find out more.

The need for client protection

Risk Transfer

Co-mingling and subordination

Client money trust accounts

This section explains the types of client money trust accounts used to segregate client money.  Click on the workbook to find out more.

Statutory trust accounts

Non-statutory trust accounts

Setting up a client bank account

Paying money into the client money account

This section explains the treatment of money paid in to client trust accounts.  Click on the workbook to find out more.

Client money

Mixed remittances

The broker’s own money

Unmatched transactions

Paying money out of the client money account

This section explains when money is paid out of client trust accounts and the regulatory requirement for client money calculations.  Click on the workbook to find out more.

Statutory and non-statutory trust accounts

Withdrawal of commission

Broking chains

The client money calculation and notifiable breaches

An introduction to ICOBS

This section introduces ICOBS and explains which activities and products are regulated. Click on the workbook to find out more.

What is ICOBS?

Consumer protection and advised versus non–advised sales

‘Protection’ and ‘other’ products

Client categorisation

Rules for disclosure and identifying clients’ needs

This section outlines the information which ICOBS requires firms to disclose to their customers. It also explains how they must assess their clients’ needs for insurance. Click on the workbook to find out more.

General ICOBS requirements

Distance communication and the disclosure rules

Disclosing information about the firm, its services and remuneration

Identifying client needs and advising

Statement of demands and needs and suitability of advice

Rules for the disclosure of product information

This section explains the ICOBS rules for disclosing information about insurance products. Click on the workbook to find out more.

Disclosing product information

Protection product pricing information

Consumer cancellation rights

When must information be disclosed?

Outline of the Insurance Act 2015 and the duty of disclosure

This section explains why the Insurance Act 2015 was necessary and outlines the key areas of reform. Click on the workbook to find out more.

What is the Insurance Act 2015?

The duty of disclosure

Fair presentation of a risk

Remedies for breaches of duties

This section describes the extent of knowledge as defined by the Insurance Act and outlines the remedies for breach of the duty of fair presentation. Click on the workbook to find out more.

What constitutes ‘knowledge’?

Amending the remedies for breach of the duty of disclosure

Insurers’ remedies for breach of duty of fair presentation

Impact of the Insurance Act 2015 on warranties and fraudulent claims

This section explains the changes in law relating to insurance warranties and fraudulent claims. It outlines the circumstances under which the parties may contract out of the new default regime for commercial insurances. Click on the workbook to find out more.

Warranties and the Insurance Act 2015

Amendments to warranty provisions

Fraudulent claims

A default regime

CONTENTS

1. Introduction

2. Underwriting – The Vessel

3. Underwriting – Construction, Size and Age of Vessels

4. Underwriting - The Use of the Vessel

5. Underwriting - The Mooring of the Vessel

6. Policy Cover

7. Significant or Unusual Exclusions or Limitations

8. Claims Procedures

CONTENTS

1.    Why the Need for Marine Insurance?

2.    How are Goods Valued for Marine Insurance?

3.    Voyage and Time policies

4.    The Marine Insurance Act, the Policy and Rules of Construction

5.    The Policy Schedule

6.    Open Covers

7.    The Institute Clauses A – ‘All Risks’

8.    The Institute Clauses B, C and Trade

9.    The Institute Clauses - Average

10.  The Institute Clauses – Exclusions

11.  War Risks

12.  Strikes Risks

13.  Duration of Cover

14.  Assignment

15.  Terms of Sale

Contents

How personal liability arises

This section explains how personal liability arises and outlines how personal liability insurance may be bought. Click on the workbook to find out more.

How does personal liability arise?

Legal requirements

How individuals buy personal liability insurance

Personal liability policy cover

This section explains the cover available for personal liability under various types of insurance policies. Click on the workbook to find out more.

Personal liability cover under home buildings insurance

Personal and occupiers’ liability cover under home contents insurance

Employers’ and tenants’ liability cover under home contents insurance

Other specific policies

When and where cover operates

Standard exclusions and conditions

This section explains the main exclusions and conditions usually found in a personal liability insurance policy. Click on the workbook to find out more.

Policy exclusions

Policy extensions

Policy conditions

Claims conditions

CONTENTS

1.    Why Buy Personal Accident Insurance?

2.    Benefits

3.    Policy Cover

4.    Policy Exclusions

5.    Policy Conditions

6.    Underwriting Considerations

CONTENTS

1. - The Need for Private Medical Insurance and the Market

2. - Types of Cover

3. - Scope of Cover

4. - Exclusions

5. - Risk Assessment and Underwriting

6. - Group Schemes and Company-Paid Schemes

7. - Claims

CONTENTS

1. Introduction

2. Policy Types

3. General Underwriting Considerations – Distribution

4. General Underwriting Factors – Age and Destination

5. General Underwriting Factors – Health

6. Other General Underwriting Factors

7. Cancellation and Curtailment

8. Personal Property

9. Personal Money

10. Medical Risks

11. Personal Accident

12. Personal Liability and Legal Expenses

13. Departure Risks

14. Winter Sports

15. Miscellaneous Risks

CONTENTS OF BITES                                        

1. Buildings – Basic Cover           

2. Buildings – Additional Cover

3. Buildings – Sums Insured

4. Contents – Basic Cover

5. Contents – Additional Cover

6. Contents – ‘All Risks’ Cover

7. Contents – Sums Insured

8. Accidental Damage Cover

9. Index Linking

10. General Exclusions

11. General Conditions

12. Flood and Subsidence Cover

1.  Introduction

2.  Material Damage Cover – The Insured Property

3.  Material Damage Cover – The Perils

4.  Material Damage Cover – Additional Cover

5.  Material Damage Cover – Extensions

6.  Business Interruption

7.  Property Owners Public Liability

8.  Employers Liability and Directors and Officers Liability

9.  Engineering, Legal Expenses, and None Insurance Services

10. Underwriting and Claims

CONTENTS OF BITES

1. Introduction

2. Policy Cover - The Site where Damage Occurs

3. Policy Cover - Exclusions

4. Causes of Subsidence

5. Underwriting - Location

6. Underwriting – The Property and its Surroundings

7. Structural Remedial Measures

8. Underpinning

9. Symptoms of Foundation Failure

10. Vegetation Types

11. Vegetation Growth and Roots

12. Underwriting Measures

13. Soil Testing

14. The Claims Process – Notification and appointing specialists

15. The Claims Process – Monitoring the Damage

16. The Claims Process – Substructure Repairs

17. The Claims Process – Settling the Claim

18. The Domestic Subsidence Claims Handling Agreement

19. Subsidence Claims Disputes – Handling Common Complaints

20. Subsidence Claims Disputes – Rejecting a Claim

21. Climate Change and the Future for Subsidence Cover

CONTENTS                                      

1. What is a Sprinkler System?

2. Fire Hazard Management

3. How Sprinklers Operate – The Water Supply

4. How Sprinklers Operate - Pipework

5. How Sprinklers Operate - Heads

6. Designing a Sprinkler System – the Parties Involved

7. Designing a Sprinkler System – Factors to be Considered

8. Why install a Sprinkler System?

9. Sprinkler Leakage Policy

10. Sprinkler Maintenance Requirements

CONTENTS

1 - Introduction – What are Commercial Packages?

2 - Who Should Buy Commercial Packages? 

3 - Commercial Packages Cover

4 - Standard cover - Buildings and Trade Contents

5 - Standard cover - Money

6 - Standard cover - Business Interruption

7 - Standard cover – Liabilities

8 - Variations and Options

9 - Extra Cover and Services

10 - Specific Trade Packages

11 - Placing, Rating, Underwriting and Claims Considerations

CONTENTS

1.    Principles of Commercial Property Underwriting

2.    Fire Insurance

3.    Rating Factors

4.    Management of the Business

5.    Multi-Tenure Risks and Accumulation in Risk

6.    First Loss Policies

7.    Special Perils – Catastrophe Perils and Wet Perils

8.    Special Perils – Social Perils and Others

9.    Theft Insurance

10.  Theft Protections

11.  Money Insurance

12.  Goods in Transit – Own Vehicles

13.  Goods in Transit – By Contractors or For Reward

14.  All Risks

CONTENTS

1 - Introduction

2 - Temporary Removal

3 - Reinstatement Basis of Settlement – Overview

4 - Reinstatement Basis of Settlement - Special Conditions

5 - Day One Basis of Reinstatement

6 - Index Linking

7 - Old or Obsolete Buildings

8 - Fluctuating Stock – Overview

9 – Fluctuating Stock – a typical clause

10 - European Community and Public Authorities – Overview

11 - European Community and Public Authorities - Special Conditions

12 - First Loss Cover

13 - Floating and Blanket cover

14 - Contract Price, Fire Extinguishing Expenses and Landscaped Gardens

15 - Metered Water, Unauthorised Use of Electricity Gas or Water & Trace and Access

CONTENTS

1 – A Legal Requirement

2 – Untraced and Uninsured Drivers

3 – Principles of Claim Handling

4 – Policy Cover

5 – Claim Notification

6 – Own Damage

7 – Total Loss Claims

8 – Third Party Claims (Excluding Injury) – Investigation

9 – Third Party Claims (Excluding Injury) – Quantum

10 – Inter-Company Agreements

11 – Third Party Injury Claims

12 – Motor Insurance Computer Databases

13 – The ABI Statement of General Insurance Practice

14 – Dispute Resolution

CONTENTS

1. Introduction

2. GAP Insurance – Types of Policy

3. GAP Insurance – General Principles

4. GAP Insurance – Claims

5. Windscreen Insurance and Key Replacement Insurance

6. Motor Warranty Insurance – Overview

7. Motor Warranty Insurance – Cover

8. Tyre Insurance

9. Motoring Assistance - Overview

10. Motoring Assistance – Cover

11. MOT Test Failure Insurance

CONTENTS                      

1. Introduction and Road Traffic Act (RTA) Only Cover

2. Third Party Only Cover

3. Third Party Fire and Theft Cover

4. Comprehensive Cover

5. Comprehensive Exclusions

6. Foreign Travel

7. Motor Insurers’ Bureau

8. Exclusions

9. Conditions

CONTENTS

1. Introducing Caravan Insurance

2. Information for Insurance

3. Policy Wording – Standard Cover

4. Policy Wording – Additional Cover

5. Legal Liability

6. Claims

7. Security

8. Weather Risks

9. Rating

10. Conclusion

CONTENTS       

1. Introducing Motorcycle Insurance

2. Definitions

3. Insurance Requirements

4. Insurance Cover Options – Third Party Cover

5. Insurance Cover Options – Third Party Fire & Theft and Comprehensive

6. Own Damage Exclusions

7. Cover Extensions

8. Underwriting and Rating

9. Other Underwriting Factors

10. General Policy Conditions

11. Exceptions

CONTENTS OF BITES             

1. Introduction

2. Motor Fleet Pricing

3. Policy Structure and Certificates

4. Policy Cover Options

5. Third Party Only – Cover

6. Third Party Only – Exclusions

7. Third Party, Fire and Theft

8. Comprehensive – Cover

9. Comprehensive – Exclusions and Excesses

10. Extra Benefits

11. Policy Exclusions

12. Conditions

CONTENTS                

1. Approach to Risk Management

2. Fleet Risk Management and Pricing

3. Risk Management in Practice

4. Claims Analysis

5. Additional Sources of Data

6. Fleet Surveys – Vehicles

7. Fleet Surveys – Drivers

8. Fleet Surveys – Management Controls

9. Driver Education

10. Benefits

CONTENTS

1 - Introduction

2 - What is a Motor Trader?

3 - Motor Insurance Needs of Motor Traders

4 - Road Risks 

5 - Road Risks Rating

6 - Common Extensions to Road Risks Policies

7 - Combined Policies for Motor Traders

8 - Combined Extensions to Combined Policies for Motor Traders

CONTENTS                      

1.    Principles of Underwriting

2.    The Car 

3.    Kit Cars and Imports

4.  Drivers – Driver Profile 

5.  Drivers - Accident and Conviction History

6.  Drivers - Other Factors

7.  Location

8.  Use

Contents

Defining directors’ and officers’ liability and the need for insurance

This section introduces the concept of directors’ and officers’ liability and explains the need for insurance.  Click on the workbook to find out more.

How does directors’ and officers’ liability arise?

The need for liability insurance

Is D&O cover relevant for directors of small companies?

The duties of directors and officers

This section explains the three main categories of directors’ and officers’ duties and details potential claimants and the nature of their claims. Click on the workbook to find out more.

Fiduciary duties

Care and diligence

Statutory duties

Potential claimants

Policy cover and underwriting considerations

This section outlines policy cover and identifies underwriting considerations and exposures. Click on the workbook to find out more.

D&O policy cover

Policy exclusions

Underwriting considerations

Limits of indemnity

USA exposure

Non-USA exposure

CONTENTS

1 – Legal Liability

2 – Public Liability – When the Policy Operates

3 – Public Liability – Types of Claims

4 – Public Liability Policy Cover

5 – Public Liability – Exclusions

6 – Public Liability Claims – Proof Required

7 – Public Liability Claims – Notifications

8 – Employers’ Liability and Legislation

9 – Compulsory Insurance

10 – Employers’ Liability Policy Cover – Key Aspects

11 – Employers’ Liability Policy Cover – Retroactive and Costs

12 – Employers’ Liability Claims – Notifications

13 – Employers’ Liability Claims – Investigations and Actions

14 – The Civil Procedure Rules

15 – Calculating Settlement – Assessing the Value

16 – Calculating Settlement – General Damages

17 – Calculating Settlement – Property Damage

18 – Defences to an Action

CONTENTS

1. Introduction and Background

2. Types of Cover

3. Underwriting Considerations

4. Third Party Computer and Funds Transfer Fraud

5. Claims Procedures

6. Summary

CONTENTS

1 - Liability for Products – Introduction

2 - Liability for Products – Policy Cover

3 - How Liability for Products Arises – Part 1

4 - How Liability for Products Arises – Part 2

5 - Underwriting Products Risks – The Business

6 - Underwriting Products Risks – The Products

7 - Underwriting Products Risks – Failure to Perform

8 - Underwriting Products Risks – The Markets

9 – Underwriting Products Risks – North America

10 - Underwriting Products Risks – Risk Management – Part 1

11 - Underwriting Products Risks – Risk Management – Part 2

12 – Terms and Conditions

Contents

What is public liability insurance and why do companies buy it?

This section explains the cover provided by a public liability insurance policy and outlines the circumstances where public liability insurance is required by law. Click on the workbook to find out more.

What does public liability insurance provide protection against?

Legal requirements

Why companies buy public liability insurance

The public liability policy wording explained

This section explains the operative clause of a public liability policy and details the main considerations in selecting an appropriate limit of indemnity. Click on the workbook to find out more.

Policy cover – the operative clause and who is covered

What does the policy cover the insured for?

How must the damages and costs arise?

When and where cover operates

Limits of indemnity

Standard exclusions, extensions and conditions

This section explains the main exclusions, extensions and conditions usually found in a public liability insurance policy. Click on the workbook to find out more.

Policy exclusions

Policy extensions

Policy conditions

Claims conditions

CONTENTS  

1 - Introduction

2 - Policy Cover

3 - Policy Extensions

4 - How Liability Arises for Public Liability

5 – Negligence

6 – Liability under Contract

7 - JCT and Other Contracts

8 - Work Away and Statutory Liability

9 - Heat Work Away

10 - Heat Work Warranties

11 - Location of Work Away

CONTENTS

 1. Introduction

2. Civil Procedure Rules

3. General Damages - Pain Suffering and Loss of

4. General Damages – Smith and Manchester Awards

5. General Damages – Future Loss of Earnings

6. General Damages – Future Expenditure

7. Special Damages – Loss of Earnings

8. Special Damages – Property Damage

9. Special Damages – Loss of Profits

10. Special Damages – Medical Expenses and Care Costs

11. Reserving

12. Costs and Interest

13. The Claims Portal

CONTENTS

1 – Introduction

2 – Development of ATE Insurance

3 – The Types of ATE Cover

4 – Obtaining Cover and Pricing

5 – Funding and Claims Reporting

6 – Typical Exclusions

7 – The Jackson Reforms

Contract certainty

This section introduces contract certainty and explains the regulatory requirements. Click on the workbook to find out more.

Why is contract certainty required?

The risks of operating without contract certainty

Regulatory requirements

The contract certainty code of practice

This section explains the contract certainty code of practice and the principles which apply to both sectors of the UK insurance market. Click on the workbook to find out more.

The contract certainty code of practice

Principle A - when entering into the contract

Principle B - after entering into the contract

Principle C - demonstration of performance

Principle D - in respect of contract changes

Principle G - where the contract has not met the principles

Contract certainty and the London Market

This section explains contract certainty in relation to the London Market and examines the practicalities of contract certainty. Click on the workbook to find out more.

Contract certainty and the London Market

Binding authorities and contract certainty

The practicalities of contract certainty

Contents

The policy structure       

This section explains the structure of a general insurance policy and identifies the general conditions and exclusions. Click on the workbook to find out more.

Why is a policy document needed?

Outline of policy structure

The policy schedule

Policy structure explained

Policy cover

This section explains what a policy covers and outlines standard policy exceptions and conditions. Click on the workbook to find out more.

What does a policy cover?

General exceptions

General conditions

Tailoring a policy

This section explains how and why policies are modified to fit a particular risk. Click on the workbook to find out more.

Policy Excesses, Deductibles and Franchises

Warranties

Conditions

Representations

CONTENTS     

1 – What is Risk?

2 – Risk Management - How Did it Evolve?

3 – Risk Management - Step by Step

4 – Step One - Identifying the Risks

5 – Risk Identification Techniques

6 – Flowcharts – Assessing the Consequences

7 – Step Two – Risk Analysis

8 – Step Three - Risk Control

9 – Managing Risk by Contingency Planning

10 – Not Forgetting Insurance

11 – Operating an Effective Risk Management Policy

CONTENTS

1.    The Loss Adjusting Profession

2.    The Role of The Loss Adjuster – General

3.    The Role of The Loss Adjuster  - New Instructions

4.    The Role of The Loss Adjuster  - Key Activities

5.    Claims Investigation Process

6.    Changes in The Profession

7.    The Adjusting Market Today

What does underwriting involve?

This section explains what underwriting is and outlines the features involved. Click on the workbook to find out more.

• What is underwriting and why is it important?
• Regulation
• Assessing the risk
• Physical and moral hazard

How are risks underwritten in practice?

This section explains the various elements of the underwriting process. Click on the workbook to find out more.

• Gathering the facts
• Providing quotations and agreeing terms
• Calculating the premium

What happens once premiums and terms are agreed?

This section explains the role of the underwriter once the insurance is agreed. Click on the workbook to find out more.

• Issuing the policy
• Alterations to the policy and short period covers
• Renewing the policy

 Contents

Utmost good faith

This section introduces the principle of utmost good faith and explains the duty of disclosure and the consequences of a breach of this duty. Click on the workbook to find out more.

Principle of utmost good faith

The duty of disclosure

Consequences of a breach of the duty of disclosure

Insurable Interest and Proximate Cause

This section explains the principle of insurable interest and how it arises. It also explains the principle of proximate cause. Click on the workbook to find out more.

The principle of insurable interest

How insurable interest arises

The principle of proximate cause

Indemnity

This section explains the principle of indemnity, how it is provided, limited and measured. Click on the workbook to find out more.

The principle of indemnity

How indemnity is provided

How indemnity is limited

How indemnity is measured

Two corollaries of indemnity

This section explains subrogation and contribution in relation to the principle of indemnity. Click on the workbook to find out more.

Subrogation

Contribution

Contribution - methods of apportionment