Introduction to Global Insurance

This course has been designed to put the concept of global insurance programmes into context. The course introduces delegates to the structure, terms and concepts of global programmes and how customers could potentially benefit from them as an alternative to relying on local insurance arrangements. The course includes practical exercises to test understanding of the concepts.

Duration

1 day

About the course

Whilst local policies go some way to meeting the needs of multinational businesses they do not provide uniformity of coverage or service for a business that trades on a truly global scale. This course has been designed to put the concept of global insurance programmes into context. The course introduces delegates to the structure, terms and concepts of global programmes and how customers could potentially benefit from them as an alternative to relying on local insurance arrangements. The course includes practical exercises to test understanding of the concepts.

Who should attend?

This course is suitable for anyone new to, or has limited experience or knowledge of, global insurance cover. Delegates will need to have some experience of property, business interruption, and liability programmes to get the most out of this course.

Objectives

Delegates who attend this course will be better able to:

  • identify which types of customer and insurance programmes could benefit from insurance cover arranged on a global basis
  • describe the structure, terms and concepts of a global policy
  • outline the main difference between workers’ compensation and employers’ liability
  • outline the main differences between UK and US property/business interruption and liability programmes
  • outline the main terms and concepts of arranging a global for EU countries

Workshop Content

Consideration of:

  • why companies buy global policies
  • what types of business benefit from buying a global programme?
  • which types of insurance can be arranged on a global basis
  • the different structures of global programmes

The terms and concepts of global policies:

  • master policies
  • multi-nationals
  • local policies
  • admitted/non admitted
  • DIC/DIL
  • tax/ premium allocations
  • compulsory insurance

How UK and US policies and terminology differ

How pan European policies are arranged

The main considerations when dealing with global insurance claims

What is included?

  • an outline of the principles and quality issues associated with statutory inspections
  • an outline of the main UK inspection requirements relating to pressure plant, lifting and handling and electrical/mechanical plant – together with examples of the plant involved
  • examples of defects discovered following the inspection
  • an explanation of the cover provided by the basic “boiler, crane and electrical” policies
  • a case study discussion to evaluate all aspects of the above

Find Out More

Call us on 0117 959 4135 or leave your details below and we'll contact you shortly.

Related Courses