SCOTLAND BROKER ACADEMY 2008 PROGRAMME 1
Technical Insurance Business Interruption Insurance Commercial Property Insurance Contractors Insurance Level Date Venue Cost per delegate Page No. Advanced 05 November 2008 Edinburgh 130.00 3 Advanced 22 May 2008 Aberdeen 130.00 4/5 Advanced 03 June 2008 Aberdeen 130.00 Advanced 11 November 2008 Glasgow 130.00 6 Directors & Officers Liability Insurance Intermediate 11 June 2008 Glasgow 120.00 7 Liability Insurance Advanced 29 October 2008 Glasgow 130.00 9 Marine Cargo & Goods In Transit Insurance Intermediate 23 September 2008 Aberdeen 120.00 10 Motor Fleet Insurance Intermediate 05 June 2008 Glasgow 120.00 11 Professional Indemnity Insurance Property Insurance Claims Intermediate 01 October 2008 Edinburgh 120.00 12 Intermediate 26 June 2008 Edinburgh 120.00 13 Management Skills and Date Venue Cost per Page No. Development delegate Essential Leadership Skills 11 September 2008 Glasgow 120.00 8 Sales and Marketing Skills Date Venue Cost per Page No. delegate Sales & Relationship Management Skills 22 May 2008 Edinburgh 120.00 14/15 2
Business Interruption Insurance - Advanced This one day interactive workshop takes the Business Interruption insurance to an advanced level, and is designed for practitioners who have good experience of this class of business. thoroughly understand how to overcome the problems in handling this class of business thoroughly understand the main features of a business that will affect the setting of the Maximum Indemnity Period and recognise how to use these to determine the most appropriate for a client thoroughly understand how all Business Interruption covers work and recognise how to select the most appropriate for a client understand the difference between full value and first loss covers and explain the advantages and disadvantages of both recognise the information required to set up Advanced Business Interruption covers and understand the underwriting reasons why this is needed understand the main features of Engineering Business Interruption covers thoroughly understand how cover for damage occurring away from the client s premises needs to be assessed and the information needed to agree appropriate cover for a client understand how a Gross Profit claim is settled and the role of the loss adjuster in claims settlements explain the purpose of the Salvage Sale, Accumulated Stocks, Departmental, Alternative Trading and New Business Clauses Typical customer attitudes shown to Business Interruption insurance and the role the broker plays in overcoming problems arising from these A comprehensive review of all Business Interruption covers including Gross Profit, Revenue, Fees, Increased Cost of Working, Additional Increased of Working, Rent, Book Debts, Engineering BI covers and Advanced BI covers The essential features that have a bearing on the setting of the Maximum Indemnity Period with exercises to show how some businesses may require different considerations Claims handling and the role of the Loss Adjuster in Business Interruption claims A comprehensive look at the range of extensions available with discussion on how these can be selected to provide appropriate cover for a client Detailed examination of the Business Interruption extensions commonly requested 3
Commercial Property Insurance - Advanced This workshop has been designed for brokers who would like to continue to improve and develop their current Property Damage skills. It is suitable for the more experienced broker who may be looking for a refresher on current Property Damage underwriting issues discuss favourable and unfavourable features of a risk list criteria applicable in assessing the adequacy of sums insured fully understand /discuss exclusions and clauses contained within the policy wording prepare a better standard of risk presentation This workshop, through the use of more complex case studies and claims examples, explores in more detail certain elements of the Property Damage policy cover. Emphasis will be placed on issues such as: underwriting the more complex property risks favourable and unfavourable features of a risk getting the sums insured right including when to use indemnity, reinstatement or first loss basis of cover issues with listed properties insuring complex /old machinery and computer systems alternative methods of insuring stock, floating covers multi locations theft sums insured inflation protection is Day 1 cover always the best option? getting the policy package right understanding the All Risks Policy cover being aware of the critical exclusions extending the basic cover through the use of supplementary clauses understanding the impact of critical supplementary clauses underwriting the risk the risk selection process surveying the risk what types of risks are likely to be acceptable/avoided? modern methods of construction current views on sandwich panels (CIP) heating and security systems favourable/unfavourable aspects which may influence acceptance or the final premium making unacceptable business acceptable 4
Commercial Property Insurance Advanced (continued) (continued) getting the presentation right first time sharing the risks fire protection understanding the risk getting the details right aspects likely to influence the Underwriter methods available for sharing the larger or less desirable risks recent changes in fire regulations why install sprinklers?. 5
Contractors Insurance - Advanced This one day participative workshop provides training for those who are already proficient in Contractors Insurance but who wish to add to this knowledge. The workshop will not be suitable for those who are new to this subject or who do not have a good grounding already. The workshop will fit well with a programme of technical development for senior staff. demonstrate a thorough comparative understanding of the content of the insurance clauses within the main construction contracts and how they have changed over time demonstrate a thorough understanding of why non-negligence liability (Clause 21.2.1) cover may be required and how insurers meet this need describe the standard structure, and content of Contract Works policies and the optional extras which may be available describe how insurers assess and underwrite the more complex risks Comparative review of insurance implications across a wide range of construction contracts Liability, property and clause 21.2.1 JCT standard and minor works, I Mech E, ICE Differences between differently dated contracts Employer - contractor forms and associated sub-contracts Contract Works policy cover Alternative policy structures Usual cover, including exclusions and extensions Commonly found alternatives Maintenance covers alternative levels of cover available Defects exclusions Standard market frameworks, e.g. DE 1-5, LEG wordings Wordings used in practice by key players How complex risks are underwritten Risk assessment Pricing 6
Directors and Officers Liability Insurance - Intermediate This one day interactive workshop would be suitable for those with several years experience of working with this product but looking to understand more. identify the underwriting considerations for Directors and Officers Liability Insurance explain current developments and trends in the Directors and Officers Liability insurance market outline the coverage under charities, clubs and resident association policies for Directors and Officers Liability insurance and how it differs from a standard Directors and Officers Liability insurance policy outline the benefits of a Pension Trustees Liability policy outline how to handle a Directors and Officers Liability insurance claim identify customers with the greatest need for Directors and Officers Liability insurance outline a strategy for improving customers awareness of the risks faced by their directors and officers prepare a customer presentation outlining how Directors and Officers Liability insurance would protect them in the context of their overall insurance portfolio Sources and types of claim against directors and officers Directors responsibilities Relevant law, including corporate manslaughter and UK company law reform Directors and Officers Liability insurance policy detailed review of key benefits Directors and Officers Liability insurance detailed proposal and underwriting process Factors to consider when assessing the right limit Claims process Current Directors and Officers Liability insurance market key players Recent market changes Quiz 7
Essential Leadership Skills Leading a team can be a challenging proposition and requires well developed leadership skills. This course will be of benefit to delegates who wish to enhance their leadership and interpersonal skills and develop their relationships with people generally. In particular, the range of topics is ideally suited to those people in a first line management role or with aspirations to supervisory/management roles. It is also suitable for team members who will benefit from development of their personal skills giving them more confidence in their dealings with people at all levels. understand the essentials of inter-personal relationships know how to express their point of view in a positive manner be capable of creating rapport with colleagues and customers be able to communicate better with people at all levels be able to recognise and overcome barriers to effective communication appreciate the need to seek win-win solutions have a structured approach to negotiations understand what makes a good team Communication Skills - the difference between hearing and listening, body language, giving effective feedback, the power of open questions Essential Interpersonal Skills - assertive behaviour, handling conflict, improving self esteem, building rapport, SMART goals and objectives Teamworking - what makes a good team, balanced team roles, team conflict/resolution Negotiation/Influencing Skills - possible outcomes of negotiation, planning for negotiations, common mistakes, tips for effective negotiation Personal Action Plan 8
Liability Insurance - Advanced This one day participative workshop is for experienced staff looking for an update/refresher on the key and current Liability issues. It tests delegates knowledge of Liability insurance and risk management issues via a series of syndicate exercises and strengthens this via discussion and feedback. This workshop would be suitable for those having responsibilities for handling any aspect of Liability Insurance business who need a good grasp of the subject. This is a case study based workshop which will require delegates to have read a 1,400 word case study in advance. Delegates who successfully complete this workshop will be able to demonstrate a good working knowledge of Liability insurance, including policy cover, risk assessment, risk management, key legislation and the key issues facing the market. Analysing a case study to define/evaluate the key liability issues Considering socio-legal issues impacting on Liability insurance Recommending a balanced package of insurance and risk management measures Post exercise feedback and discussion will: Develop risk awareness Explain the risk management process and priorities Refresh knowledge of normal Employers Liability, Public Liability and Products Liability insurance policy covers Consider the technical basics of Liability insurance underwriting, recent trends and current issues facing the Liability insurance market Particular issues addressed will be: The industrial disease problem Pollution legislation Financial loss The Woolf reforms and their aftermath North American Products exposures Health and Safety legislation 9
Marine Cargo and Goods in Transit Insurance - Intermediate This one day interactive workshop is aimed at delegates with some experience of Marine Cargo and Goods in Transit insurance and should enable an increased ability to handle this business and to win new business in the market. Increased understanding of Marine insurance issues will ensure that customers needs are better understood and serviced. Whilst Marine insurance might not be the core of a business, it is quite common to find transit as part of a Commercial Property insurance policy. The ability to handle this competently can prevent another broker from gaining a foothold. demonstrate knowledge of commodities in transit (timber, foodstuffs etc.), involving an appreciation of their particular susceptibilities to loss or damage and steps taken to reduce the risk a study of condensation, infestation and associated risks applicable to commodities an appreciation of dangerous goods outline the Institute Clauses and Institute trade Clauses, involving a study of the termination clause in Institute Clauses in comparison with marine stock throughput policies a study of Institute B and C clauses a study of a variety of Institute trade clauses describe the key features of the Marine Insurance Act 1906 describe the principle and operation of General Average Risk Assessment - demonstrations of the handling of specialist cargoes based on knowledge of their particular susceptibility to loss and damage. Institute Cargo Clauses - in-depth analysis of the Institute trade Clauses (for which a prior knowledge of Institute Cargo Clauses A is essential). Marine Insurance Act 1906 the terms of the Act but, concentrating on ten or so specific areas to gain an understanding of its terms. General Average - the principles and practices of General Average, with examples to demonstrate. Quiz 10
Motor Fleet Insurance Intermediate This one day interactive workshop is aimed at delegates with at least 12 months experience of handling Motor Fleet insurance but who are looking for a framework within which to structure their knowledge and fill in the gaps. The emphasis is on participation via syndicate exercises, open discussions and practical case studies. The workshop will provide an excellent opportunity for delegates to develop their understanding of Motor Fleet business. It will also allow more experienced delegates to refresh their knowledge. demonstrate an understanding of what is a Motor Fleet and why separate insurance may be needed describe the various methods insurers use to price Motor Fleet risks describe the structure and usual content of Motor Fleet policy wordings show an awareness of the information underwriters usually require to consider risks and likely undesirable or unacceptable risks describe the various Motor Fleet risk management tools available What is a Motor fleet? Legislation affecting Motor insurance in general and motor fleets specifically Typical policy cover, stressing the differences with Commercial Motor insurance, including the Road Traffic Acts and the Third and Fourth EC Motor Directives Unacceptable and undesirable risks for Commercial Motor insurance and especially Motor Fleet business Pricing methods, including Discounted Book Rates, Formula Rating and Burning Costs, including case study Overview of risk management, with particular reference to Motor Fleet surveys, driving training and the use of excesses Outline of the claims handling process, highlighting differences from other classes of Motor insurance Quiz 11
Professional Indemnity Insurance - Intermediate This one day interactive workshop is at an intermediate level, which is suitable for those with several years experience of working with Professional Indemnity insurance but looking to understand more. Delegates who successfully complete this workshop be able to outline the different types of cover which may apply to different types of professions describe the information required to obtain a Professional Indemnity Insurance quotation outline the principal underwriting considerations which apply when underwriting Professional Indemnity insurance explain the important points to remember when dealing with a professional negligence claim apply a Professional Indemnity insurance wording to simple claims describe how brokers should handle the current Professional Indemnity insurance market and what they should be telling their customers Duty of care owed by professionals legal liability and breach of contract Examples of professional negligence claims Differing professional exposures, including: accountants lawyers surveyors IT and telecommunications companies Professional Indemnity and Errors and Omissions policy key elements of cover: Operative clause Claims made considerations Principal exclusions Principal extensions Proposal and underwriting process - how an underwriter uses the details provided to rate the risk Claims process, including incident reporting and PI protocols Case study Quiz 12
Property Insurance Claims - Intermediate This one day interactive workshop is designed for delegates with some experience of handling property insurance claims and who are looking to further develop their knowledge. The workshop will include plenty of opportunity for discussion and relevant case studies and exercises. It is possible to incorporate other claims issues into discussion on the day where requested by delegates. The aim of this workshop is to provide an overview of the claims process for Commercial insurance claims, focussing particularly on the role of the broker in adding value for the customer. An overview of the claims process, including the role of the broker Managing customer expectations Contract Law and documentation Property Claims The legal basis of the contract between the insurer and the insured Utmost good faith FSA regulations Disputes and complaints How the claims process applies to property claims Applying the principles of contract law to a selection of case studies, including: Common claims issues Insurable interest Proximate cause Indemnity Subrogation Contribution 13
Sales and Relationship Management Skills The skills of staff and the techniques they employ in order to achieve sales, both face-to-face and over the telephone, are vitally important to the success of any business. This highly interactive workshop is aimed at developing sales and relationship management skills. It is structured according to the sales experience of the delegates and whether they have an internal telephone-based role or are more likely to visit and meet with customers. This one day workshop delivers more interaction and practical exercises, which can include negotiation skills. The workshop is designed for delegates to improve sales skills and identify how to respond to customer needs professionally, using the skills acquired to optimise sales. It is particularly for those seeking to deepen their knowledge of and their effectiveness in the sales process. recognise the importance of listening 100% and to be able to use voice, personality and body language effectively acknowledge the importance of first and last impressions when meeting or telephoning a prospective customer. This includes the skills involved in controlling the conversation/meeting so that it benefits the customer as well as the sales advisor outline the importance of preparation for the sales/business meeting state the difference between features and benefits, having assessed the customer s requirements through effective use of key listening and questioning techniques name the different types of questions and when to use them to best advantage, whilst employing friendly questioning, listening and response skills recognise how attitude affects approach and how the power of words, voice and body language affects the customer experience, ensuring attention is obtained, held and hotspots touched so that the customer wants the product/service build rapport so that the customer buys from you and not just the product/service explain the concept of Features and Benefits of products when selling to customers use the Corporate Sales structure feel confident closing the sale in a professional and customer friendly manner handle objections confidently 14
Sales and Relationship Management Skills (continued) (continued) recognise the importance of after sales care, especially when future/ongoing cross selling of products and services is likely identify further business opportunities and develop ongoing constructive relationships describe the principles of key accounts Selling the way selling is approached can mean the difference between mediocrity and success. This is especially effective for cross-selling as it establishes the importance of building constructive relationships and highlighting specific needs that arise from a conversation What is Selling and Cross-selling the importance of listening and questioning skills - selling is then matching a specific need Features and Benefits the difference between features and benefits - an effective exercise that establishes delegate awareness of the products they sell, and how to match the needs to specific benefits. This looks beyond simply offering a product at the cheapest price The Sales Structure an effective approach to all situations - the structure to adopt and ensure every contact reaches its full potential The Way People Communicate how effective a positive attitude is to selling successfully and managing the client relationship Handling Objections the reasons for objections and the approach to adopt to effectively overcome them After Sales Care the importance of looking after customers once they have bought the product, especially recognising a desire to sell more to them Further Business Opportunities - how to identify/quantify other business opportunities arising within the firm. How to develop constructive relationships and cross sell to different parts of a firm Key Account Management - the importance of prioritising key accounts, the time spent on them, the commensurate return to the business and the strategy for managing and growing key business and achieving success 15