Professional Indemnity Insurance

07th November, 2017
Harare, Zimbabwe

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About the COURSE

The African market for professional indemnity insurance has been expanding quite rapidly and strongly with over 40% of the total market value being generated by smaller professional enterprises and new business representing a very significant proportion of the total market. The rapid augmentation of the African PII market is the result of an increased number of Insurance agencies and new companies entering the insurance market fray and making the market competition fiercer with each company competing to rise above its peers and gain sustained leadership.

Analyzing the current market state and associated trends, the global insurance marketplace appears to be heading in the general direction of soft pricing, reflecting insurer capacity, competition, and relatively low catastrophe losses. However, industry developments, including recent earnings announcements, executive leadership changes, and re-underwriting at several companies, would bear watching. Macro dynamics, such as global economic, political, regulatory, technological, and environmental developments, will also continue to affect the industry throughout the year.

The Professional Indemnity Insurance course is intended to highlight methods to calculate professional Indemnity Insurance, types and benefits of Professional Indemnity Insurance, in-depth analysis of professions might consider professional indemnity insurance, management of the Professional Indemnity risk, and factors to be considered when underwriting the Professional Indemnity risk.

Course Timing: 9.00am To 5.00pm

Introduction to Professional Indemnity Insurance

  • What is professional indemnity insurance?
  • The key terms of a typical PII policy
  • How professional liability arises?
  • What does professional indemnity insurance cover?
  • What will professional indemnity insurance not cover?
  • Why get PI cover?
  • Why need Professional Indemnity Insurance?
  • How much does professional indemnity insurance cost?

Methods to calculate professional Indemnity Insurance

Types of Professional Indemnity Insurance

  • Negligent act, error or omission
  • Breach of duty
  • Civil liability

How does Professional Indemnity Insurance work?

  • Protections against?
  • Two types of financial loss protected by PII

Benefits of Professional Indemnity Insurance

  • Automatic Acquisition
  • Joint Ventures
  • Loss of Documents
  • Mitigation of Loss (Architects, Construction, Engineers, Media and Technology only)
  • How not to get Bankrupt?
  • To learn about legal costs associated with defending a negligence claim
  • To be aware of how to Cover the cost of fixing mistakes

Issues under Professional Indemnity Insurance (PII)

  • The state of the market
  • Further developments in policy wordings
  • Emerging issues facing the market
  • Developments in individual professions–regulation and coverage
  • Significant legal decisions which are impacting on the professions’ exposures
  • Developments in international markets

Topics to be deliberated at the time of this course:-

  • What kind of professions might consider professional indemnity insurance? What types of professional can be covered under Professional Indemnity Insurance?
  • Discussion of the factors to be considered when underwriting the Professional Indemnity risk
  • Type of Events that need to be covered under Professional Insurance
  • How to Manage the Professional Indemnity risk?

  Course Leader

Our Course leader has over 9 years General Insurance experience gained whilst working for one of the leading insurance companies in Zimbabwe- Zimnat General Insurance Co. Over the 9 years, he has been exposed to Business Analysis, Commercial lines & Personal lines Underwriting, Claims and Risk Management. An all-rounder professional with excellent analytical skills. A Chartered Insurance Risk Manager with the Chartered Insurance Institute(UK) holder of ACII qualification. He also holds degree in Applied Mathematics from NUST, Diploma in Insurance (IIZ), Associate-IISA and is currently working towards ACILA(UK)  and GIFireE(UK) qualifications.

 

Click to Register

Register 3 Send 4th One Free

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 participants registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Registration Fee

Registration Price: $499
(Pay Before 17/10/2017)

Usual Price: $599

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Note: All payments are made in USD.
Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.

Venue

Hotel To be Confirmed (Venue 4-5 star Hotel)


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