P066 - MANAGEMENT OF PROPERTY INSURANCE (FIRE)  (NON-LIFE)

 Background

Property insurance (Fire Insurance) used to be a major contributor to the general insurance business. But post de tariffing drastic reduction in prices in fire rates has led to the portfolio waning in the recent past. Currently the property segment is undergoing changes in terms of stipulation of minimum STFI rates, IIB rates, Earthquake, deductibles and reinsurance treaties. Now IRDAI has introduced three new standard products which need to be followed by all the insurers in the country. Practitioners require intensive knowledge to understand the increasing complexity and nature of property insurance. This Programme aims to provide a holistic view of property risks, its assessment, market developments underwriting, reinsurance aspects, and claims management.

 Objectives 

This programme aims to equip participant’s comprehension and increase exposure to understand

 

Ø  Standard Fire and Special Perils Policy;

Ø  New Standard Fire Products

Ø  Special Policies; IAR Policy Mega Policy

Ø  PML - Importance and calculation

Ø  Reinsurance

Ø  Claims Management

 Contents

Ø  Property Insurance - Indian scenario including IIB rates, etc.

Ø  PML concepts & its importance in underwriting

Ø  Standard Fire and Special Perils Policy - concepts, cover and extensions

Ø  Griharaksha Policy, Shukshma Udyog policy and Laghu Udyog policy

Ø  IAR Policy; Mega Policy - concepts, cover and extensions

Ø  Business interruption concepts, cover and extensions

Ø  Claims Management

Ø  Reinsurance

Participants’ Profile

Officials handling underwriting and claims, audit in Head Office, Regional Offices, Operating Offices of Indian and foreign public & private sector General Insurance Companies 

 Duration:       3 days

 Dates:             18.05.2022-20.05.2022