Engineering Insurance
The course aims to provide a technical foundation in Engineering Insurance, including its principles and practices, requirements, coverage of the insurance, and an analysis of supporting factors.
- Understand the business and financial risks in Engineering insurance
- Develop a structured approach to identify key risks involved in a transaction with Engineering insurance companies
- Develop awareness of the changes in the insurance industry
- Apply the main methods of capital-raising by insurers
The course will utilize lectures with presentations and interactive class discussion. Trainees will also be encouraged to brainstorm ideas during seat works/activities.
- Contractors All Risks (C.A.R.) Policy
- Marine-Cum-Erection (MCE) Policy
- Machinery loss of Profits (MLOP) Policy
- Advance Loss of Profits (Alop) Polocy
- Electronic Equipment Policy
- Engineering insurance Policies (Special Clauses, Add On Covers, General Exclusions)
- Conditions and Warranties
- Building, Construction, Occupation
- Essential aspects of Fire Underwriting
- Proposal Form, Schedule, Policy and Renewal Notice
- Fixation of Sum Insured, RIV & Market Value determination
- Rates, Discounts & Deductibles and their pattern
- Operational Insurance Coverage
- Exclusions and Claims
- Machinery Insurance including MLOP
- Boiler Insurance
- Electronic Equipment Insurance
- Market Oil & Energy Pool
- Rating in Engineering Insurance (particularly its adequacy) – during Tariff regime as well as during Tariff-free regime
- Underwriting Experience of Engineering Insurance portfolios – during Tariff regime as well as during Tariff-free regime
- Fire Risk Inspection & Assessment Report
- Fire Loss prevention & Fire Extinguishing Appliances
- Fire (Consequential Loss) Insurance
- Scope and coverage Fire (CL) Policy