- Duration: 5 Days
Loss-of-Profits insurance is intended to cover losses to a business following physical damage by fire or breakdown, until turnover has recovered to a similar level to that prior to the damage. It requires that a fire or machinery breakdown policy has been effected by the insured. Cover is for a maximum sum insured representing the insured's gross profit and the increased cost of working for the anticipated period that production is interrupted following the physical damage, and for a maximum indemnity period representing the anticipated period to restore the business to normal operations and profitability. Hence this course serves as an inroduction to Fire & Loss of Profits Insurance.
Upon the completion of this course, the participant will be able to:
- Define the physical and financial assets protected in property and business interruption insurance
- Classify the main contingencies covered by property insurance
- Illustrate the cover provided by different types of property policies
- Discuss the main terms and conditions related to property insurance and apply appropriate terms to relevant property cover
- Discuss the cover provided by business interruption insurance and examine its interrelationship with property insurance
- Apply risk perception, assessment and underwriting to property and business interruption insurance.
- Insurance employees, Brokers, Agents, Loss Adjusters, Employees who manage insurance in non-insurance companies.
- The course is conducted via a combination of lectures; case studies; role plays; and videos, where applicable.
- General introduction to property and business interruption insurance
- Insurance principles vis-à-vis property and business interruption insurance
- Essentials of the property and business interruption insurance contracts
- Fire and special perils policy
- Home insurance
- Property all risk policy
- Business interruption policy
- Special policy extensions and covers
- Nature of fire and loss prevention
- Rating and underwriting
- Maximum possible loss
- Property reinsurance
- Claims aspects
Day Topics to be covered
- 1 Main concepts related to fire insurance
- 2 Main fire policies' clauses, memorandum and conditions
- 3 Maximum Loss
- 4 Main fire underwriting and rating considerations
- 5 Main concepts related to fire insurance
About Qatar Finance & Business Academy
Qatar has taken significant steps towards creating a modern, knowledge-based economy, as the basis for a stable and sustainable future.
In order to live up to this revelation, We_They was established in 2009 under the auspices of Qatar Financial Centre Authority - QFCA to raise the financial services industry standards and help organizations and professionals achieve their learning and business objectives, thus aligned with Qatar 2030 vision.
We specialize in providing training and developing the financial sector. We believe that such an investment is a key strategy to support a modern, industrialized, knowledge-based economy.See all Qatar Finance & Business Academy courses