DRIVING PROFESSIONAL STANDARDS

DRIVING PROFESSIONAL STANDARDS
FIRE INSURANCE
& BUSINESS
INTERRUPTION
INSURANCE
These courses are created to enable participants to
develop a comprehensive understanding on important
areas of Fire Insurance and Business Interruption
Insurance in a reasonably short time frame.
2015 MII PROGRAMME DIRECTORY
Title
3.03 Fire Clauses – How to apply the right clauses for maximum protection
Title
3.04 Business Interruption Losses & Practical Issues
Duration
Time
Duration
Time
2 Days 9.00 am to 5.00 pm
3 Days 9.00 am to 5.00 pm
Venue
The Malaysian Insurance Institute City Centre
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.
Venue
The Malaysian Insurance Institute City Centre
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.
About the
Course
You may have come across instances where clients have asked for a whole range of fire insurance clauses
to be incorporated into the fire policy thinking that the coverage would be more comprehensive. However,
the purpose of these clauses must be well understood and clauses applied should be relevant. Otherwise,
the inclusion of certain clauses could be detrimental to the interest of the insured in the event of a claim. To
interpret and understand the meaning of some of the fire clauses could also prove to be a daunting task given
the technicalities involved.
In light of the above, this course has been designed to help participants understand the meaning and
intention of clauses and also to apply the appropriate clauses to suit the insured’s specific requirement.
To facilitate easy understanding of clauses, simple language and real-life examples will be used.
About the
Course
Business Interruption Insurance Losses & Practical Issues is a 3-day course which enhances participants
understanding and familiarity on business interruption insurance business. It also looks at all practical issues
faced by the business and consecutively find ways to manage them effectively and efficiently.
Upon completion of the course, participants will be able to:
• Understand how business interruption insurance works
• Assist policyholders in setting an adequate sum insured
• Understand how business interruption losses are calculated
• Gain a sound understanding of practical issues of business interruption losses
• Apply the knowledge gained to help policyholders arranging business interruption insurance
Key Course
Contents
At the end of the course, participants would be able to:
• Interpret clauses correctly
• See the technicalities involved
• Know when and how to use them
• Tailor - make a fire policy with relevant clauses that offer the best coverage and protection to the insured
• All Fire Tariff Clauses with special emphasis on Stock Declaration
• Automatic Renewal Clause
• Reinstatement Value Clause
• Reinstatement in Compliance with Public Authorities
• Declaration Policies
• Temporary Storage Clause
• Leasing Endorsement
• Smoke Damage Endorsement
• Brand, Label & Trademark Clause
• Automatic Hold Cover Clause
• Sprinkler Leakage Endorsement
• Hire Purchase Endorsement
• Internal Removal Clause
• Other Insurance Clauses and more than 40 clauses
Key Course
Contents
• Basic principles
• The Policy
• The Specification & defined terms
• Various forms of interruption cover
• Considerations of Maximum Indemnity Period
• Calculating the Sum Insured or Declared Amount
• Special business interruption extensions
• The insurance of wages
• Overview of Advance Loss of Profit Insurance
• The Indemnity : In Respect of Reduction in Turnover
• The Indemnity : In Respect of Increase In Cost of Working
• Practical Issues of Interruption losses
FEES
LOCAL
RM 2,300
INTERNATIONAL
USD 770
FEES
LOCAL
RM 1,600
INTERNATIONAL
USD 550
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