Previous events
This month
Webinar: Understanding Business Interruption extensions and advanced loss of profit
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.
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Webinar: How to correctly advise your clients on setting correct indemnity periods under Business Interruption insurance policies.
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.
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Annual Dinner 2024: Save the Date!
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
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Webinar: Critical business interruption insurance learnings for brokers following the Infinity Reliance judgement
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.
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Webinar: HABITS OF HIGHLY EFFECTIVE NEGOTIATORS IN INSURANCE AND THE FINANCIAL SERVICES INDUSTRY
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
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Webinar: The Market Cycle
What causes a market cycle and are we heading into a soft market in 2024? Hard markets usually last around a maximum of three years and this latest one started in 2020. This presentation, delivered by Alan Chandler one of the UK’s most popular presenters, looks at what causes market cycles in the insurance industry and what is likely to occur in the rest of 2024. Alan correctly called the hard market in 2020, providing a presentation on the seven reasons why the market would harden. Rates have now got much higher; investment returns are now at very healthy levels and underwriting in the UK looks a lot better proposition than it did back in 2020. New entrants will be attracted to the market and existing players will look to expand capacity to take advantage of the current favourable investment conditions. Rates will not crumble over night, but Alan predicts 2024 will see a change in demand and supply, where Insurers will have to start having to fight more for business, and there will need to be a change in the way insurers operate, which may result in home working underwriters actually answering the phone to brokers! Alan will also explore how brokers and underwriters can be successful in a softening market. Brokers have a fiduciary duty, and this means insurers cannot ask brokers to be loyal without also providing genuine benefits at renewal for the policyholder. Whilst many people will not want to see the hard market end, history tells us it will, and not mentioning it will not stop a soft market cycle starting. This presentation will equip you for the change in the market that is on its way.
View event detailsWebinar: Law of Torts in a Nutshell
All too often we overthink principles of tort law and we get confused by the raft of cases that exist in this area of law. In turn, we confuse ourselves and our customers in the way we explain and apply those principles of law. In this session, we will strip the law of torts back to basics and demystify the confusion. We will learn how to explain the law in a simple and clear way and how to apply the case law to real-life scenarios. Areas that we will examine include: Negligence: the duty of care, breach of duty, causation and remoteness Occupiers’ liability Employers’ liability General defenses and remedies in the law of torts.
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Webinar - Construction All Risks - an introduction
Advanced Construction Risks This session examines how the standard Joint Contracts Tribunal contract has influenced the Contractors' insurance product, where and to whom the building contract imposes responsibility for insurance and the main classes affected
View event detailsWebinar: A Plain English Overview of Reinsurance
A plain English overview of reinsurance, including how reinsurance premiums affect the price charged to policyholders. Reinsurance premium increases have been one of the most significant causes of the current hard market for policyholders, and that is why it is essential that all brokers, underwriters, and claims staff have a basic overview of how reinsurance operates. This webinar will be presented by Alan Chandler, one of the most popular speakers in the UK. Alan will explain why reinsurance is so essential, the different types of reinsurance and how reinsurance can significantly affect policyholder’s premium and cover.
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Annual General Meeting 2024
We need you! To get down to our AGM... Your local institute council invites you to attend their 2024 Annual General Meeting in order to hear first-hand reports from council members on previous and future activities and vote on the appointment of new council members for the forthcoming year. If you feel you could make a positive contribution to your institute, it is an ideal first step to becoming involved. Book your place today.
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Webinar: The Power of Listening
Following on from the webinar on 5th September 2023 - The Power of Questions, Nick now presents The Power of Questions. ‘Nature hath given [us] one tongue but two ears, that we may hear from others twice as much as we speak.’ Epictetus [Ancient Greek philosopher]. Many of us merely ‘hear’ and fail to really ‘listen’. Effective listening can have a profound effect on all our interpersonal relationships at work and home. In this session Nick Thomas brings together his expertise from the worlds of sales and coaching to help improve awareness of the importance of effective listening, and some key skills and tools to improve performance in multiple different environments.
View event detailsCII Charity Quiz Night
It's Quiz time! Last year we had a very successful quiz night, raising £70 for the Morriston Food Bank and donating 8 or 9 bags full of food and toiletries. We are looking to repeat this success this year and invite you along to this year's annual quiz. Cost: £12.50 per person (inc food). There is a maximum of 6 persons per team. Quiz Prizes and Raffle Prizes to be won! We are again donating to the Morriston Food Bank. All profits from the night will be donated to the Food Bank and we are asking everyone to bring a food or toiletries donation (tin of soup, packet of biscuits, toothpaste etc) As with all our social events the quiz is open to Institute members and non-members who are engaged in the Insurance Industry, bring along your family and friends. :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Please email jacqueline.hancock@prescott-jones.co.uk with the following information: Contact Name: Team Name: Number in Team: Number of Scampi & Chips / Chicken Curry & Rice/Chips or Vegetarian Lasagne & Chips Please send Payment (£12.50 per person) to: Insurance Institute of Swansea & W Wales Account No: 80508829 Sort No: 20 84 41. Please put your name in the reference
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Webinar: Behavioral Biases in the Customer Journey: How to Identify & Handle them to Avoid Customer Harm
This FCA stated in the Final Guidance to the new Consumer Duty that firms need to take account of how customers “transact in the real world”. Therefore, being able to identify and handle customer´s behavioural biases, as well as our own behavioural biases and biases embedded in product design and marketing, is key to avoiding potential customer harm. This 1 hour webinar will introduce you to the most common, though often difficult to spot, behavioural biases that can be encountered throughout the customer journey from product design to claims settlement, as well as tips on how to handle them to avoid customer harm. With behavioural sciences now very much at the centre of the new outcomes-based regulation system, this webinar is a must attend for anyone who wants to stay on the right side of the new Consumer Duty.
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Webinar: Emerging Risks
This session on Emerging Risks looks at some of the issues that are changing the insurance industry – in terms of ways of working, and new insurance solutions being developed.
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St David's Day Lunch (1)
The ever popular St David's Day lunch is back again this year. It is always a great social event for CII members and non-members alike. Come along and meet your industry peers, catch up with old friends or just sample some great food and drink! The venue this year will be: The Madeira Restaurante 46 The Kingsway Swansea SA1 5HG The table is reserved for 1.30pm. You can stay for a few hours or stretch the lunch into the early evening - the choice is yours.
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Considering Socio-economic background and creating inclusive environments
Despite not being one of the 9 protected characteristics under the Equality Act, people from lower socio-economic backgrounds experience bias, discrimination and significant inequality of opportunity. Working with Rose Sellman-Leava and Jess Woodsford, Executive Directors of Inclusive Futures CIC, this session will explore the challenges relating to socio-economic backgrounds, and why this is important to consider in a work context. We will look at the concept of Inclusive Leadership and the importance of creating inclusive environments. You will have the opportunity to explore and discuss how you can apply these principles to your own workplace.
View event detailsWebinar: How to be Positively Disruptive
We are trained to pass exams; to fit in; to ‘be good and keep our head down and work’. However, we are living in a changing world. In the last 3 years we have seen the world of work change for ever, and this has involved people challenging how we work; the systems we have in place to work in a hybrid work environment.Having the ability to challenge existing norms; to identify opportunities and bring these to the workplace are invaluable for companies. But is a fine line between being Disruptive and a positive disruptor. In this topic we will discover how to avoid being mediocre: but a positively disruptive, invaluable member of your team.
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Webinar: Introduction to Engineering
Engineering insurance is one of those things that you’ve probably heard of, but do you really know what it is, or even have an understanding of how it works? If not, then this live learning is for you! This course aims to explore the different varieties of engineering insurance, how each one works and the relevant laws in place enforcing such covers. Finally, we will look and understand the importance factors of underwriting when incepting / renewing these types of covers.
View event detailsWebinar: Household policy wordings and endorsements
This webinar, delivered by Alan Chandler, one of the most popular presenters in the UK, takes a plain English view of how the law and the Financial Ombudsman Service interpret endorsements, conditions, warranties and policy wordings and why it is so important to get this right. What are endorsements? what are conditions and warranties? why does a breach of condition have to relate to the claim in Personal lines? – all the answers will be explained and made clear by Alan, who will include real life case law to provide additional understanding.
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Webinar: An overview of Motor Trade insurance
The presentation, provided by Alan Chandler one of the most popular insurance presenters in the UK, will provide an overview of the main covers for a Motor Trader and show where brokers make mistakes when setting up covers. Alan will explore the background as to why the motor trade market is hardening so badly and why rates will continue to rise. The presentation will also look into how a broker can help clients by getting motor traders to focus more on risk management.
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