Webinar: Commercial Property insurance - Setting correct property, stock and contents sums insured in a high inflation world

Overview

It is estimated that at least 80% 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 avoid the under-insurance trap. Under insurance has been made considerably worse now that we are seeing UK inflation go into double digits, and this is something all brokers, underwriters, claims staff and loss adjusters need to be aware of.

The presentation, delivered by Alan Chandler one of the UK's most popular insurance presenters, will look at what clients actually need to take into when settling Buildings, Contents and Stock sums insured. Alan will explore why under insurance is so common, the effects of under insurance for the client, and why the current environment of high inflation, leading to significant 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. The presentation will be in a webinar format where delegates will be able to ask Alan questions at the end of the presentation.

Learning Objectives

By attending this event, delegates will be able to identify:

• 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 mitigating their exposure to under insurance in a high inflation environment

Alan Chandler, Alan Chandler Training

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 the 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.