Intermediate Contractors Insurance

Description

This course focuses on contractual requirements of JCT building contract and the insurer response focusing on cover and underwriting.

What you will learn

Who should attend?
This course provides training for those who are already proficient in Contractors insurance but who wish to add to this knowledge. The course will not be suitable for those who are new to this subject or who do not have a good grounding already.

Course Objectives
Delegates who successfully complete this workshop will be able to demonstrate the following competencies:

• understand the subject matter of Contract Works insurance and the various ways insurers provide cover
• understand the insurance clauses within the JCT contract and understand the difference between contractual obligations and insurance requirements
• understand why non-negligent damage cover may be required and how insurers meet this need
• understand the standard structure and content of Contract Works policies and the optional extras usually available
• understand the underwriting process and the information required to assess and price risks.

Course content

• Contract Works Insurance:
• Definition and scope of Contract Works insurance.
• Importance and relevance in construction projects.
• Insurance Clauses in JCT Contracts:
• Analysis of insurance clauses within the JCT contract.
• Differentiation between contractual obligations and insurance requirements.
• Non-Negligence Liability Cover:
• Understanding the need for non-negligence liability cover and how insurers meet this need
• Explanation of JCT Clause 6.5.1 and its significance.
• Structure and Content of Contract Works Policies:
• Standard structure and components of Contract Works policies.
• Overview of optional extras typically available in these policies.
• Underwriting Process:
• Explanation of the underwriting process in Contract Works insurance.
• Understanding the information required to assess and price risks.