How to set the correct property sums insured

Anyone involved in or with an interest in General Insurance, whether working for an Insurer or Broker in Claims, Underwriting or with Loss Adjusters and other service providers.

It is estimated that 90% of policies have incorrect sums insured!

This presentation looks at the major issue of under insurance in the UK property market and how to help your clients avoiding the under-insurance trap. The webinar will look at what clients actually need to take into when settling Buildings, Contents and Stock sums insured.

Alan Chandler will explore why under insurance is so common, the effects of under insurance for the client and why under insurance is an increasing cause of Professional Indemnity claims against brokers. One of the problems is that the figures on the client’s balance sheet are not the same as those required for insurance purposes and Alan will point out the differences so that clients can be warned.

By the end of this session, delegates will be able to:

• Understand what needs to be taken into account in respect of Buildings, Contents and Stock Sums Insured
• Understand why there is a difference between the figures for accounting purposes and the figures for insurance purposes
• Understand the effects of under insurance for clients and how to aid them in mitigate their exposure to under insurance

Alan has undertaken operational management roles in three major global companies - NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Eleven years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom. He has also trained many national prize winners. Alan has delivered training for almost all of the Local Insurance Institutes in the UK over the past few years with his enthusiastic presenting style proving very popular. He is one of the few individuals who can teach at all levels of the CII examinations. He teaches almost all certificate, diploma and advanced diploma subjects and is one of the few people who can take someone from certificate all the way through to fully qualified ACII and his pass rates exceed 96%. Alan has presented across Europe on many technical subjects to companies including Allianz, Zurich, Aon, Marsh and Willis. He has been involved in the setting up of many diploma and advanced diploma programmes in both the UK and Ireland and is driven by a passion to see increased professionalism within the insurance industry.

To Take Part and obtain a copy of the link contact David Codling at david.codling@uk-claims-consulting.co.uk or 07772 483302.

The Insurance Institute of Bradford values and respects diversity and strives in all of our activities to take account of and respect the interests of all people it serves. There is an expectation that all speakers / presenters and attendees will act in this way too. Please see our Equality Policy on our website.

To view our image and video capture consent statement, please click here.