This GLOMACS training workshop, Dealing with Construction Insurance – The A to Z of Handling Claims and Issues is presented to enable delegates to understand the key features of this critical construction insurance product and coverage aspects. It is a contractual requirement that is often over looked by project personnel and management while preparing for site mobilization and commencement of physical work on the ground.
This GLOMACS workshop is led by an experienced and well known subject facilitator who uses inter-active learning methods to enhance the learning process. The delegates will be taught the technical aspects of the insurance coverage and also shown how claims are handled. Focus will be given on two main documents - the Contraction All Risks (CAR) and Erection All Risk (EAR) policies both of which are a requirement under various local and international construction contracts (FIDIC, for example).
Case studies will be used to ensure that the learning is effective and equally enjoyable.
This GLOMACS training will highlight the following key features:
- A Study of the Contraction All Risks (CAR) Policy Wording – understanding using the Munich Re of Germany standard wording format
- Considering Risk Appetite and Concerns of the Underwriter when looking at New Project Insurances
- Appreciate How Claims are Evaluated and Managed by Different Insurance Companies
- Special Attention on Specific Clauses, Endorsements and Warranties of the C.A.R. Policy
- Discussion on Best Practice to obtain a more Effective Coverage from the Policy
At the end of this GLOMACS workshop, you will learn to:
- Understand the Basic Principles of Insurance
- Learn how the Contraction All Risks (CAR) policy is used as a risk transfer mechanism
- Analyze the policy operative clause and endorsements applicable to various risks scenarios
- Learn how the the policy responds to construction insurance claims
- Determine policy terms like Sum Insured, Limit of Liability and Period of Cover in regards to policy drafting
This GLOMACS Dealing with Construction Insurance – The A to Z of Handling Claims and Issues workshop will utilize a variety of proven adult-learning techniques to ensure maximum understanding, comprehension and retention of the information presented during the five days.
The facilitator employs active - learning techniques, group discussion and role play(s) to enhance the training session. The delegates will also be provided a few challenging case studies with actual site scenarios – and the facilitator will guide them through achieving appropriate and effective solutions. A proper understanding of the Contraction All Risks (CAR) policy coverage is essential to appreciate this activity.
Meanwhile delegates are urged to raise own work related engineering insurance experience to the class for further review and group discussion.