PROPERTY INSURANCE (FIRE & ENGINEERING)

Background
The steep decline in Fire and Engineering Insurance pricing has put a question mark on the profitability of the portfolio. Therefore it is important, to manage these portfolios with utmost care while assessing the hazards and pricing the risk. Improved underwriting techniques including risk management skills, can result into better management of this class of business. Market for Project and operational Engineering Insurance is growing rapidly with growing economy and increasing foreign collaborations and participation in Indian industries. New concepts and technology in underwriting and claims handling need to be applied based on the global standards and practices in Indian insurance industry. Demand for Mega insurance covers for industrial projects is on the rise. The cover for LOP & ALOP, DSU is more and more in demand along with the cover for Operational Engineering and Project Risks

Objectives
§ To enhance the participants, understanding of concepts of and underwriting practices in Fire, Engineering, Business Interruption, IAR, Petrochemical Insurance concepts and underwriting practices

§ To emhance their underwriting skills in the detariff scenario

§ To provide exposures to Inspection procedures and risk assessment techniques.

§ Acquaintance with PML concepts, Loss assessment, prevention and control techniques

§ Reinsurance of mega-size and high tech risks.

§ To enlighten the participants to underwrite Engineering Project Insurance Products along with ALOP in the free markets.

§ To equip on claims management aspects & procedures both on Operational and Engg. Project Insurance

§ To enlighten the participants about the claims management aspects & procedures for LOP & ALOP insurances

Contents
§ A study of inspection procedures and risk assessment techniques

§ Analysis of fire & Engineering insurance policies including their extensions and special perils-rating

§ Business interruption insurance concepts, Case studies of FLOP/ MLOP / ALOP

§ Mega size and high-tech industries such as petrochemicals, fertilizers, etc.

§ Catastrophic losses

§ PML concepts / Calculation of PML & Case studies of U/w project covers

§ Loss assessments and claims procedures, prevention and control

§ Reinsurance of mega-size, high tech risks & Engineering Insurance

§ Special aspects of commodity loss assessment