P798- PROGRAMME ON FIRE
UNDERWRITING SKILLS (NON-LIFE)
Fire policy is a
very complex policy involving lot of interpretations. Now the IRDA has
introduced three new products for SMEs and dwellings.
Fire portfolio suffered a lot during detariff regime as a result of
excessive discounts prevailing in the market.
Under these circumstances, GIC Re and IIB stepped in and attempted to
bring some sanity to the market in terms of rates.
The regulator also brought in some changes particularly in AOG perils.
In the advent of above developments, the underwriting skills of fire
policies need to be relooked in order to provide a sustainable growth in the
background NIA has decided to conduct a two days online programme on fire
policies to understand the intricacies involved.
Ø Standard fire and special perils policy – cover, exclusions and conditions
Ø Standard fire and special perils policy – different policies, clauses and add on covers
Ø Fire new products – Griha Raksha policy, Sukshma Udyog policy and Laghu Udyog policy
Ø Prudent underwriting practices and concept of ratings, etc.
Ø Concept of risk inspection, importance of PML and application of reinsurance
Ø FLOP - concept, various terminologies, CBI extensions and underwriting practices
Any insurance official, brokers and executives surveyors and customers.