Introduction to Insurance (Full Day)

Course Introduction

This course is designed to introduce delegates to the Insurance world. It is suitable for people in non-insurance roles and those new to the industry.

The webinar will be highly interactive with delegate participation and engagement throughout.

The webinar is delivered by a Certified Online Learning Facilitator.

Course Objectives

By the end of this webinar delegates will be able to:

• Explain what insurance is and the implications for individuals and businesses
• Recognise the benefits of insurance to the UK
• Describe the London and International insurance market
• Discuss factors that influence the underwriting of risks
• Describe the factors involved in assessing and pricing risk.
• Outline the key legal principles of insurance.
• Describe typical policy structure and the importance of policy wordings
• Explain how the industry is regulated by the FCA and PRA

Course Content

• Why individuals and organisations purchase insurance
• Insurance needs of people and organisations
• The London & International Insurance Market
  • Types of insurers
  • Captives, Mutuals & Takaful
  • Lloyd’s and the subscription market
  • Third parties and intermediaries
• Assessing Insurance Risk
• Identifying risk hazards
• Basic Insurance Principles:
  • Insurable interest and its importance.
  • Utmost good faith/Fair Presentation of Risk and its application.
  • Principles of proximate cause, indemnity, subrogation, and contribution.
• Interpreting Policy wordings
• Industry regulation and compliance