A Plain English Introduction to Engineering Insurance/Inspection & Contractors Insurance

The Insurance Institute of Guernsey is holding the above event with speaker Alan Chandler. The talk is an hour and a half with the ability to network following the talk.

Part One: A Plain English Introduction to Engineering insurance and inspection

This is an hour’s presentation looking to provide a plain English overview of the Engineering insurance market, which is often shrouded in mystery and badly understood. We will look at both the inspection and insurance cover elements of Engineering insurance.

Because engineering as a product is so misunderstood, there are enormous amounts of equipment across the UK that have no explosion cover despite the client having an 'All Risks' wording! The same problem applies to inspection where clients are often breaking the law by not getting an item inspected but do not realise this. For brokers this is a missed income opportunity and a significant professional indemnity exposure.

This webinar, delivered by Alan Chandler one of the most popular presenters in the UK, is very appropriate for brokers, underwriters, claims staff and loss adjusters as well as anyone else who wishes to gain a greater understanding of the insurance marketplace.

Learning objectives:

• Understand the history of engineering insurance.
• Understand where an ' All Risks ' cover finishes and an engineering cover starts.
• Understand the types of risk where engineering explosion cover should be offered.
• Understand where plant and equipment inspection is legally required at law.
• Understand which other plant should be inspected by an engineering insurer.

Part Two: A plain English overview of contractors insurance

From small builder to plumbers through to large building firms there are an increasing number of contractors needing insurance, often due to the fact that building firms now take on contractors rather than employees. These contractors need professional guidance on their insurance needs, and this presentation will outline the main factors to be taken into account. As an example, would a small building firm really understand the difference between labour-only and bona-fide sub-contractors, if they do not have a broker they are in big trouble, as the Insurance Act 2015 says they must make a fair presentation of risk, without help how do they do this?

The presentation, delivered by Alan Chandler one of the most popular insurance presenters in the UK, will look at the main insurance needs of a contractor. The webinar will include looking at contract works cover, understanding contractor liability cover including non-negligence cover, understanding the Business Interruption cover including understanding how to add fines and damages to the contractors’ policy and why current limits of indemnity are often not sufficient. The contractors sector will suffer badly from the hardening market and this presentation will look at how you can best get your clients’ needs correctly arranged.

Learning objectives:

Delegates will be able to:

• Understand contract works cover.
• Understand contractors liability cover including non-negligence cover.
• Understand the Business interruption requirements including how to add fines and damages cover.
• Understand why the current limits of indemnity offered under contractors policies are often too low.

Contact:
Please contact Lauren Gregory, Vice President and Education Secretary to register & book your place. Places are limited.