The workshop provides delegates with an insight to the preparation and processes involved in policy issue. To appreciate the underwriter’s role and their considerations in the assessment of risk, how any adverse features may be addressed and a look at the latest developments in the processes used in the Lloyd’s and London markets. Delegates will leave the workshop with improved knowledge of the fundamentals of the processes and considerations of intermediaries, underwriters and other parties involved in the insurance market.
This workshop provides the ideal introduction to the transaction of insurance at Lloyd’s, in the London market and in the company market of any new or in experienced members of staff. In addition, the course content provides a valuable insight for those involved in the insurance department of other organisations who place their business in London or elsewhere.
Delegates who successfully complete this workshop will be able to:
- outline the processes to be followed in relation to the issue and cancellation of policies
- outline the policy cover, conditions and exceptions – Personal Accident and Travel
- recognise the principles of underwriting and how they apply to personal accident and travel insurance
- consider the principles and procedures for handling personal accident and travel claims
- outline common causes of complaints and how to avoid and deal with such situations
Policy structure the fundamentals of policy documentation including the role of endorsements and warranties:
- the rules of policy interpretation
- documentation - proposal forms, slips through to policy issue
- levels of cover/types of policy
- policy wording variations
- the role of Xchanging Ins-Sure Services at Lloyd’s
- standardisation of policy and endorsement wordings
- the aim for greater product certainty at inception
- the impact upon policy preparation of the London Market principles.