This advanced workshop in Business Interruption (BI) is designed to give senior insurance and broking practitioners in-depth knowledge on BI policy extensions with specific reference to the FCA v Arch & Others 2021 case. Participants will also be able to explain the impact of FCA judgements on the local insurance industry.
This type of workshop also requires that senior practitioners familiarise themselves with following before the session:
Non Damage Extensions offered by Insurers in the local Insurance Industry
Updated knowledge on the law relating to the interpretation of insurance contracts
Knowledge of the method used in the calculation of Gross Profit in a BI policy
The law on the principle of Proximate Cause in insurance contracts
Law of Agency and general duties of an insurance broker
At the end of the session, participants will be able to:
Outline a brief explanation of BI Insurance Non-Damage Extensions.
Identify the main BI Extensions in the context of Covid 19 and the judgment issues arising out of the Supreme Court decision in FCA v Arch & Others
Explain the significance and legal interpretation of these Non-Damage BI policy Extensions.
Explain the modification of the principle of proximate cause arising out of the Supreme Court decision in FCA v Arch & Others
Explain the impact of the FCA judgment issues on the local Insurance Industry.
Outline a brief explanation of general duties of an insurance broker.
Identify the main duties of a broker in the context of BI Insurance, Covid 19 and the judgment issues arising out of the High Court decision in Eurokey Recycling Ltd v Giles Insurance Brokers Ltd 2015 and Arbory Group v West Craven
Explain the impact and significance of the Eurokey judgment on Insurance Intermediaries in the local Insurance Industry.
Recognise some of the problems and possible solutions in overcoming all of these judgment issues.
Mr. Wong is a broker with over forty (40) years’ experience in the industry. He is currently the Operations Manager for a leading, local brokerage and has extensive experience in broking, claims management, and the Business Interruption class of business. He has completed many courses under the Chartered Institute of Insurance and is the holder of courses of study in the Diploma in Insurance from the Academy of Insurance.
Mr. Wong has also served as a Lecturer and Examiner with the Academy of Insurance, now known as the TTII.