COMPREHENSIVE TECHNICAL PROGRAMME IN GENERAL INSURANCE (NON-LIFE)

Background
The programme aims to help participants to apply theoretical framework to their day-to-day operations and enable a clear and better understanding and grasp of principles and practices of various classes of non-life insurance. Insurance companies can thus bring about the most important but often neglected element of ‘professionalism’ in their functioning. With globalisation, every player in the market will have to think and adopt international practices. Exposure to the programme will broaden their knowledge of divergent practices prevalent in different insurance markets the world over and also widen their perspective of international markets. The programme provides participants a good opportunity to interact with professionals from different countries

Objectives
• Understanding theoretical framework of non-life insurance covers and application of the same to their day -to-day operations.

• Acquaint the participants with principles and practices of general insurance

• Enhancing underwriting skills of the various insurance classes of risks

• Better claims management of all the important classes of risks

• Provide practical exposures through industrial visits/ Port Visits/ Garage visits.

• Data warehousing and data mining for assessing performance and rating of the portfolio

• Evaluation of risk

• How to design and develop new products

• Actuarial basis of rating the product in the free markets

Contents
Development of insurance - historical and futuristic overview

• Genesis -An offspring of the socio-economic technological evolution of the society

• Transformation -Structural and operational transformation in the previous decades of the 20th century, Global General Insurance Scenario & Insurance Regulations

• Environmental- Socio-economic and technological transitions and their impact on the

General Insurance Industry
The Basic Principles of Insurance

• Legal framework - Basic principles of insurance contract, Obligations of parties

• Operations - The main classes of General Insurance and their historical evolution.

• Risk assessment and developing new product

• Understand the pricing mechanism in the open market

• Appreciation of Actuarial Aspects in General Insurance

Fire and Business Interruption Insurance

• Principles and practice of fire insurance: Identification of physical / natural /and moral hazards and underwriting in free markets

• Principles and practices of business interruption insurance / Handling of LOP Claims

• Risk Inspection, management and loss control methods

• Handling of fire material damages claims

• Chemical - Petrochemical Risk Insurance

• Industrial visit

Marine Insurance
• Marine Insurance in International Markets

• Basic principles and practice of Marine Cargo & Marine Hull –U/W Consideration & Important Clauses & Rating.

• Processing of Marine Cargo & Marine Hull Claims and recoveries & General Average

• Characteristics of commodities, their propensity to losses &

• Type of vessels and issues arising there from, Regulations pertaining to vessels going at high seas

• Impact of containerisation / multi-modal transportation in marine cargo insurance Loss prevention and minimisation techniques in cargo handling

• Visit to a seaport covering cargo and hull aspects



Motor Insurance

• Issues in motor insurance in international markets, problems of growth and profitability • developments of Motor Insurance, Legal considerations & welfare aspects

•Underwriting & Risk Management in motor portfolio including Policy covers for different classes of vehicles

• Processing of own damage claims & Third party claims under motor policies

• Anatomy of Private Car & Commercial Vehicles

• Visit to an Automobile Manufacturing Plant

• Visit to an Automobile Repair works

Engineering and Construction Insurance

• Issues in engineering insurance in international markets, development and growth

• Analysis of Operational & Project insurance,

• Risk assessment and underwriting of engineering portfolio

• Business interruption cover for engineering risks

• Management of Mega Risk - PML assessment and its application

• Visit to an engineering industry


Miscellaneous Accident Insurance

• Issues in miscellaneous accident insurance in international markets

• Prospects and problems of growth and profitability of Personal & Health insurance portfolio

• Accident and sickness covers, Personal insurance covers of various types & Processing of Claims

• Miscellaneous covers for commercial/industrial sector -

a) Security of plant and property, Personal / Property / Interest insurance

b) Covers against financial loss from theft of cash securities or fraud by employees

c) Legal liabilities

• Commercial Sector (D&O / E & O , CGL) / Industrial Sector PLI, Public/Product Liability / Professional Indemnity Covers

• Emerging IT risk & Cyber Liability

a) International Practices in Credit Default Insurance

b) Managing Aviation covers & Liabilities

c) Managing Oil & Energy risks

d) Managing Rural, Social and Micro Insurance and Agricultural Insurance covers



Practice of Reinsurance

• Issues in reinsurance in international markets

• Types & Methods of reinsurance & its Legal aspects of reinsurance

• Underwriting and designing of reinsurance programmes

• Processing of Reinsurance Claims & Accounts



Concluding session

• Integrated development: technical / administrative / financial /marketing

• Strategies for vigorous growth and reasonable profitability of business in dynamic socioeconomic technological environment

• Role of Additional Dispute resolution in Grievance handling and customers experience management

Participants’ Profile
Junior Level Executives from General Insurance Companies in India and abroad, Broker’s, consulting firms and executives handling risk and insurance portfolio at corporate government governing undertaking and private firms.