Introduction to the Insurance Industry

Course Introduction

This live on-line interactive insurance webinar is designed to introduce delegates to the Insurance Industry.

The course provides an introductory overview of the principle of risk transfer and looks at the different types of insurance and reinsurance available, the features of insurable risk and the make-up of the Lloyd’s and International Insurance Market.

The course will be highly interactive with delegate participation and engagement throughout. This half day course consists of two 90 minute on-line sessions with a 15 minute break.

The course is delivered by a COLF qualified Chartered Insurance Broker with over 40 years insurance experience who is a Certified Online Learning Facilitator (COLF).

Course Objectives

At the end of the webinar delegates will be able to:

• Explain what insurance is and the risk transfer process
• Identify the broad classes of Insurance and types of Reinsurance available
• Outline the principles of Insurable Interest, Utmost Good Faith, Fair Presentation, Indemnity, Subrogation, Contribution and Proximate cause.
• Describe the London International Market and Lloyd’s of London

Course content

• Session Tools
• What is insurance?
  • the history of insurance
  • the risk transfer process
  • the features of an insurable risk (including insurable interest)
• The benefits of insurance
• Types of insurance available
  • Reasons for compulsory insurance
• Reinsurance
  • What is reinsurance?
  • Types of Reinsurance
    • Facultative, treaty and XS of Loss
• Insurance Principles
  • Utmost good faith and Fair Presentation
  • Indemnity,
    • Subrogation
    • Contribution
  • Proximate cause
• The London & International Insurance Market
  • Types of insurers
    • Captives, Mutuals & Takaful
    • Lloyd’s and the subscription market
  • Third parties and intermediaries
• Closing Session