Introduction to Property Underwriting

Course Introduction

This interactive Insurance training session is designed to build knowledge and skills within Property Underwriting, from how to interpret the initial submission to quoting the risk. It includes reviewing the difference between Commercial & Personal Lines Property Insurance, identifying ‘good risks & bad risks’, types of coverage included as well as understanding common occupancies, construction types and the underwriting factors that impact pricing and risk appetite.

Who should attend

This session is suitable for junior level brokers and underwriters, as a refresher for people with up to 2 years’ experience and anyone within other departments looking to build knowledge.

Course Content

• What is Property Insurance?:
  • Overview of Commercial & Personal Lines
  • Market Cycle & impact on risk management
  • Different types of sub classes of business
  • Types of Coverage & what to include
• Submissions:
  • Different formats of submission
  • Understand how to identify key information.
  • Identifying the risk & values
  • Key questions to ask.
• Occupancy:
  • Overview of key Commercial occupancies
  • Overview of key Personal Lines occupancies
  • Common exclusions and why.
  • Understand underwriting factors of these common occupancies, impact on rate.
• Construction:
  • Overview of common construction types
  • Connection of construction type to occupancy
  • Understand underwriting factors applied to construction, impact on rate.
• Claims:
  • Reviewing claims information provided
  • Understand how to analyse and calculation options
  • Impact on deductibles, limits and restrictions
• Quoting stage
  • Pulling initial submission together
  • Where to place the risk; Open Market, Line-slip or Binder
  • Advantages & disadvantages of underwriting the risk.