Events

In the insurance industry, in particular, we often focus on developing our technical skills, and our product and service knowledge in the belief that this alone will be all we need to win new clients, and then provide great service to existing clients. But of course if the prospect does not ‘trust’ us sufficiently we are unlikely to be appointed in the first place, and if our clients don’t trust us, it will be more difficult for us to bring value, and our position will be constantly under threat. This session focuses on the importance of Trust in prospect and client relationships, and how to build it.

One of the many things the Covid-19 pandemic has taught the insurance industry is the importance of going through the various Bi extensions with clients and documenting these discussions. Failure to do this could leave the broker wide open to a PI claim against them. This presentation, delivered by Alan Chandler one of the most popular speakers in the UK, looks specifically at BI extensions, the purpose of each one of them and how in each case an incident could give rise to a claim. Many in the industry have an incorrect view of extensions, for example many discuss utilities extension cover with clients when they really mean terminal ends, so give a wrong impression of the coverage their policy is actually providing. This webinar will be highly beneficial for Brokers and Insurers alike.

Brokers increasingly face Pi claims for failing to advise clients correctly on setting appropriate Business Interruption indemnity periods, and with all the unfortunate events occurring in the world at the moment, making rebuild materials very scare, never has there been a better opportunity to engage your policyholders on this subject. Recently a broker was successfully sued for failing to give any guidance around indemnity periods to a manufacturer who had a twelve-month indemnity period. Nothing was ever recorded by the broker about the fact that twelve months was almost certainly inadequate, in fact it was the Loss adjuster after the fire took place that educated the client on setting correct indemnity periods, unfortunately too late for all concerned. This webinar looks to make sure this does not happen to you or your staff. This one-hour webinar provided by Alan Chandler, one of the most popular presenters in the UK, will examine all the different factors a client needs to take into account when setting an indemnity period. The presentation will include guiding clients who are on a Gross Profit Bi basis, a Gross Revenue or Fees basis and will also include how an Increased Cost of working only policy should deal with prospective losses over 12 months.

Our President, John McSherry, is delighted to invite you to the Insurance Institute of Swansea & West Wales prestigious Annual Dinner, which aims to fundraise for our President's nominated charity Foothold Cymru. Date: 15th November 2024 (6.30pm for 7.00pm) Venue: The Marriott Hotel, Trawler Rd, Maritime Quarter, Swansea SA1 3SS

One of the most important judgements in recent times relating to Bi insurance was made in the Infinity Reliance case, and brokers who fail to change their proceedings risk large Pi claims against them going forward. This case has shown brokers are very exposed to the following three areas: 1. If indemnity wordings are used rather than declaration linked. 2. Any broker guidance note must reflect the actual policy wording. 3. AICOW must be discussed when there are unusual exposures. Average was applied by Aviva to the Bi claim following a large loss, and the broker was held liable for most of the shortfall, which was nearly £3m, due to their failure on the above three points. This webinar, presented by Alan Chandler, one of the most popular presenters in the UK, looks to understand how brokers are exposed following this judgement and how to take practical steps to ensure the right procedures to mitigate these exposures. This webinar is a must for all broking staff and has significant relevance for underwriters and claims staff also.

ABOUT THE SESSION Good negotiation skills are crucial to many different roles within the insurance and financial services sector, and though we may not always realise it, most of our day-to-day work centres around negotiations. That said, little or no formal training is devoted towards these essential skills. This is an interactive and fun session that introduces the key elements of a negotiation process, such as the following: - Qualities of a good negotiator - Planning a negotiation - Styles and strategies - Communication skills