Format:   Course
Level:   Intermediate
Duration:   30 mins
CPD Points:   0.5

Liability policies can be underwritten in two ways Claims Made and Losses Occurring.  How does one type of policy differ from the other? This course will assist in understanding this cover and the concept of retroactive period and retroactive date.

Format:   Course
Level:   Advanced
Duration:   30 mins
CPD Points:   0.5

The concept of MPL/EML is of fundamental importance in insurance.  Logic and experience indicate that it is unusual for a risk to be exposed to a loss equal to 100% of the sum insured. Most often, the existence of fire prevention measures (water sprinklers, fire walls, nearby fire brigade or its own fire service) and the separation of buildings mean that a fire in one section should not spread to all other sections.  If you have been confused about MPL, EML and PML this is the course for you...

Format:   Course
Level:   Advanced
Duration:   1 hour
CPD Points:   1

Insurance policies do not incept and expire at the same time during the year. The financial year may be January 1, 2017 to December 31, 2017; however, the polices will incept throughout the year.
Consequently, at the end of the financial year, there will still be some policies which have not expired and which may produce claims after the end of the financial year...

Video
Duration: 53s

Indemnity requires that an insurer must place the insured in the same financial position as he was in before the loss.  An insured cannot make a profit from the loss. This video is a quick overview of the concept of indemnity.

Video
Duration: 1m 58s

When a house is sold, unless a seller is asked a particular question the seller need not say anything about potential issues, for example a leaking roof - “caveat emptor” applies.  This means the buyer must beware.  Insurance is different. The proposer has all the facts that would influence the underwriter’s decision on whether or not to accept the risk, and what premium to charge. This video provides a quick overview of the concept of good faith.

Video
Duration: 2m

If, at the time of the event giving rise to a claim, insurance exists with any other insurers covering the insured against the same defined events, the insurance company is liable to make good only a rateable proportion of the amount payable to the insured in respect of such event. This video provides a quick explanation of the concept of contribution.

Video
Duration: 1m 38s

The application of average is the method which insurers use to deal with underinsurance.  In the event of underinsurance, the insured is paid proportionately and not paid in full.  This video provides a quick explanation of the concept of average.

PRE-REGISTER: COMING DECEMBER 2019

Format:   Course
Level:   Intermediate
Duration:   30 mins
CPD Points:  0.5

Underlying the operation of an insurer is the law of large numbers (also known as the law of averages). The operation of the law of large numbers permits insurers to predict their ultimate losses more accurately.  This enables insurers to charge an adequate premium.

PRE-REGISTER: COMING DECEMBER 2019

Format:   Course
Level:   Advanced
Duration:   30 mins
CPD Points:  0.5

Underwriting results follow a cyclical pattern caused by external factors affecting capacity - such as catastrophic events and investment performance.  In addition internal factors - such as insurers striving for market share during times of robust investment results - contribute to the cycle. The cycles average about six years in length and are synchronised across countries and to some extent across lines of business.

PRE-REGISTER: COMING DECEMBER 2019

Format:   Course
Level:   Introductory
Duration:   1 hour
CPD Points:  1

Insurance principles guide the conduct of insurance.  In this course we look at indemnity, average, subrogation, proximate cause, contribution, good faith and insurable interest in detail.

PRE-REGISTER: COMING DECEMBER 2019

Format:   Course
Level:   Intermediate
Duration:   1 hour
CPD Points:   1

It is necessary for an insurer to estimate the future liability of outstanding claims settlements and put aside money to meet it.  The amount can be enormous.  As a general rule claims are the largest cost of an insurer; typically accounting for greater than 65% (and often much more) of earned premium. This assumes 'normal' levels of acquisition and management expenses.