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A highly interactive training course on

Dissecting the Construction Insurance Coverage

A Practical Workshop to Understand the C.A.R / E.A.R Policy - Coverage and Claims
Coventry Academy - Dissecting the Construction Insurance Coverage
5
Days

Course Schedules

 London
 20-24 Jan 2025
 $5,950
 Dubai
 02-06 Jun 2025
 $5,950
 Dubai
 29 Sep-03 Oct 2025
 $5,950

Training course overview

This essential training course focuses on the practical aspects of insurance as a critical requirement often overlooked during site implementation. As outlined in project contract documents, such as FIDIC and local Conditions of Contract, specific clauses mandate the arrangement of insurance for projects, equipment, and protection against third-party claims. Essentially, indemnity must be secured to protect the Employer or client.

Effective project implementation involves managing various risks, and insurance serves as a vital risk transfer mechanism. This course will cover how risk management can mitigate exposures related to perils such as floods, fires, explosions, landslides, and even design shortcomings or material defects.

Over the five-day training, participants will learn fundamental principles of insurance. The course leader will share valuable insights from decades of industry experience, along with regional case studies, to deepen understanding of this crucial contractual subject matter. 

What are the goals?

By attending this Coventry Academy training course delegates will be able to make a substantial, positive impact on the Asset Management best practices within their organization, more specifically:

  • Learn How Insurance Coverage for Project Sites are Arranged and Underwritten
  • Know the Concerns of Underwriter When Considering a Project Risk
  • Consider Risk Management Steps in Site Project Implementation
  • Appreciate How the Risk Transfer Process Takes Place
  • Highlight the Key Points of the Contractors All Risks Policy and How It Is Triggered
  • Discuss & Learn the Practical Application of These Best Practices, Through Case Studies & Examples

Who is this training course for?

This training course is suitable for a wide range of professionals who are involved in any aspect of Construction Risk and Insurance and who want to understand, implement and improve the latest Contractors All Risks / Erection All Risks Project Insurance Project Insurance concepts, processes and ideas.

For example, Senior executives, Engineers and Managers from the following industries:

  • Insurance, Reinsurance Companies, Insurance Brokers and Reinsurance Brokers
  • Buyers of Insurance – Contractors, Builders, Sub-Contractors and Equipment Suppliers
  • Project Consultants Civil & Structural, Mechanical & Electrical Architects, Design Specialists, Surveyors (Building, Land and QS)
  • Projects Owners / Developers, Banks and Financial Institutions & Fund Managers
  • Insurance Regulators, Legal Personnel, Arbitrators and Loss Adjusters
  • Government Bodies and Institutions – Public Works, Local Council, Road & Highway Authorities

Course Outline

Day One: Introduction and Contractual Aspects of Projects
  • On-going and Upcoming Projects in the region
  • The need for insurance
  • Projects Contract Administration
  • Conditions of Contracts (FIDIC etc.)
  • The insurance industry and the Role of the Regulator
  • Principles of Insurance
Day Two: Policy Coverage
  • How the CAR policy is arranged?
  • Munich Re standard wording and formats in various regions
  • The difference with the EAR policy
  • The policy sections (I & II) and coverage
  • Section III (ALOP) coverage and its application
  • Period of cover, General Exclusions and Policy Conditions
Day Three: Section I (Material Damage)
  • Operative clause
  • Sum Insured
  • Exclusions
  • Basis of loss settlement
  • Design coverage - DE 3 and related options
  • Extension of cover – overtime, express freight
Day Four: Section II (Third Party Liability)
  • Who are third parties?
  • Limit of liability
  • Special Exclusions
  • Special conditions
  • Interesting clauses and endorsements
  • Role of Loss Adjusters
Day Five: Underwriting of Risks and Claims Handling
  • What are underwriters concerns?
  • Risk management
  • Claims handling
  • Loss control survey
  • Ex-gratia payments
  • Case studies and Worked examples

The certificate

  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Coventry Academy
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