Thu, Oct 27|
NECTAR WEBINAR - FIRE, BI & INDUSTRIAL ALL RISK
This webinar provides an overview of insurance coverage under Fire Insurance with special focus on Industrial All Risk and Business Interruption.
Time & Location
Oct 27, 2022, 2:00 PM – 6:00 PM GMT+8
About the Event
This webinar will be presented in 3 Parts as follow:
PART 1- FIRE INSURANCE
- Underwriting Fire, Explosion, RSMD & Terrorism, Underwriting Nat Cat Perils
- Add On Covers, Escalation Clause, Market Value vs Reinstatement Value Calculations,
- Declaration & Floater Policy
PART 2- BUSINESS INTERRUPTION (BI) COVER
- Introduction to BI Insurance, Gross Profit calculations using Difference and Addition methods.
- Material Damage proviso. Indemnity period and Policy Period, Increased Cost of Working (ICOW) and Additional ICOW, Annual turnover and Standard Turnover, Trends clause application.
- Condition of average, Rate of Gross Profit, Turnover basis and Output basis, Dual wages basis, Alternative basis clause, Underwriting BI proposals, Premium adjustment calculations, BI claim calculations.
PART 3- BUSINESS INTERRUPTION (BI) & IAR INSURANCE POLICY
- Contingent BI - Suppliers and Customers extension, Denial of access and Prevention of access, Wide area damages and Loss of attraction
- Differences between Fire LOP and LOP coverage under IAR policy , COVID 19 and Business Interruption Insurance.
- IAR: Exclusions, Add on Covers, Clauses & Claim Calculations
Mr. Atmaram Cheruvu has over 32 years’ experience in Risk Management, Insurance and Reinsurance. He was Head (Property & Casualty) and Chief Underwriting Officer of Hannover Re branch in India. Earlier to Hannover Re, He held senior positions in Sompo Japan and Royal Sundaram.
The webinar is suitable for:
- Property Insurance Underwriters
- Reinsurance Executives
- Business Development executives
- Marketing executives
Training Certificate: All participants will receive a personalised “participation certificate” via e-mail.