Open Course - Webinar
London Market Essentials (LM1) Revision Workshop
This course provides the examination candidate with the opportunity to assess their learning in advance of taking the examination. The 2-part course is filled with a variety of exercises that enable delegates to cement their learning of the subject and enhance their chances of passing the examination. The aim of the workshop is not just to enable delegates to pass but also to enhance their working knowledge of the London Market environment.
Individual delegate price:
£220 + VAT
About the course
This course provides the examination candidate with the opportunity to assess their learning in advance of taking the examination. The 2-part course is filled with a variety of exercises that enable delegates to cement their learning of the subject and enhance their chances of passing the examination. The aim of the workshop is not just to enable delegates to pass but also to enhance their working knowledge of the London Market environment.
This course is split between 2 half days, each of 3 hours each from 2 pm – 5 pm (UK). Delegates must attend both sessions to complete the course.
There will be a maximum of 10 delegates.
Who should attend?
Examinations students who are well underway with or nearing the end of their studies and are within six weeks of attempting their examination.
Course Objectives
- Day 1: Fundamental Principles and Market Structure
- Basic Insurance Principles
- Good Faith, Proximate Cause, Indemnity, Contribution, Subrogation
- Insurance Fundamentals
- Risk, Pooling, Peril vs. Hazard, Moral/Physical Hazard
- Insurable/Uninsurable Risks, Purpose, Claims Process
- London Market Insurance Classes
- Overview and Key Features
- The Insurance Cycle
- Stages and Explanation
- Reinsurance
- Purpose and Key Terminology
- Day 2: Market Structure, Regulatory Environment, and Professional Roles
- London Market Structure
- Participants, Importance, Associations, Transactions
- Regulatory and Legal Environment
- Industry Regulators, Lloyd’s Governance, Ombudsman, FSCS
- Regulatory Powers, Valid Contracts
- Systems, Controls, and Compliance
- Sanctions, Legislation Compliance
- Data Protection and Money Laundering
- Principles and Requirements
- Broker’s Role
- Responsibilities, Broking Process, Premiums, Claims
- Underwriter’s Role
- Responsibilities, Lead and Following Roles
- London Market Structure
- Basic Insurance Principles
It is important to remember that time constraints prevent an exhaustive study of the full syllabus and delegates should ensure that they are familiar with the whole text and not just those subjects covered in the sessions.