Practical Guide to General Insurance provides participants with knowledge and understanding of the basic principles of insurance, including the basic features and outlines of the typical covers provided within the main classes of insurance, i.e., motor, property, accident, engineering, liability and marine. It considers the structure of the insurance market and information flows between those who provide products and services to clients. It looks at the need for the underwriter to understand the risks and the concept of risk, the different types of risk and how insurance acts as a risk transfer mechanism. It explores which risks are insurable, risk management and how risks are controlled. Participants will gain an understanding of the nature of insurance and the operation of the insurance market including reinsurance.
At the end of the session, participants will be able to:
• Understand the nature, classifications, and main features of risk within the insurance environment.
• Understand the main features and functions of insurance.
• Understand the characteristics of insurable risks.
• Know the structure, components, and main features of the insurance market.
• Understand the importance of reinsurance.
• Understand the principles of insurance - insurable interest, utmost good faith.
• Understand the doctrine of proximate cause and the principle of indemnity (with its corollaries of Subrogation and Contribution).
• Understand the basic features and typical covers provided within the main classes of insurance, i.e., motor, property, accident, engineering, liability and marine.
Bookings are closed for this event.