Course Overview
This course provides an in-depth understanding of construction insurance, focusing on key policies, risk assessment, underwriting principles, claims management, and regulatory compliance. Participants will explore industry best practices, emerging risks, and innovative insurance solutions for construction projects. Case studies will be included to enhance practical application.
Course Duration
5 Days
Target Audience
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Insurance underwriters and claims professionals
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Risk managers in construction and insurance sectors
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Contractors, project managers, and developers
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Legal and compliance officers handling construction insurance
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Brokers and insurance sales professionals
Personal Impact
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Develop expertise in construction-specific insurance policies
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Enhance skills in underwriting, risk assessment, and claims management
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Understand regulatory and compliance requirements
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Learn best practices for mitigating construction-related risks
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Gain insights into emerging trends and technologies in construction insurance
Organizational Impact
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Improved risk management and policy structuring for construction projects
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Efficient claims processing and fraud detection in construction insurance
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Enhanced compliance with industry regulations
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Strengthened collaboration between insurers, contractors, and project owners
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Competitive advantage through innovative insurance solutions
Course Outline
Course Objectives
By the end of this course, participants will be able to:
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Understand the fundamentals of construction insurance policies
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Assess risks and apply underwriting principles effectively
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Handle claims related to construction projects efficiently
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Ensure compliance with construction insurance regulations
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Leverage technology for enhanced risk assessment and claims management
Course Modules
Course Outline
Module 1: Introduction to Construction Insurance
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Overview of construction risks and the need for insurance
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Key construction insurance policies:
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Contractor’s All Risks (CAR) Insurance
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Erection All Risks (EAR) Insurance
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Professional Indemnity Insurance
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Workers’ Compensation Insurance
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Third-Party Liability Insurance
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Role of insurers, brokers, and underwriters in construction insurance
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Case Study: Reviewing real-world construction insurance policies
Module 2: Risk Assessment and Underwriting for Construction Projects
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Key risk factors in construction projects
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Underwriting principles for construction insurance policies
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Impact of project size, location, and duration on insurance coverage
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The role of loss prevention and safety programs in risk mitigation
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Case Study: Evaluating risk profiles for different construction projects
Module 3: Claims Management and Dispute Resolution in Construction Insurance
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Claims process for construction-related incidents
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Common causes of claims and dispute resolution strategies
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Fraud prevention and investigation techniques
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Legal and contractual considerations in claims handling
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Case Study: Managing a complex construction insurance claim
Module 4: Regulatory Compliance and Legal Considerations
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Key regulations governing construction insurance
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Legal responsibilities of contractors and insurers
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Contractual obligations and insurance requirements in construction projects
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Managing compliance with local and international insurance standards
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Case Study: Ensuring regulatory compliance in large-scale construction projects
Module 5: Emerging Trends and Innovations in Construction Insurance
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The impact of digital transformation and InsurTech in construction insurance
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AI and big data applications in risk assessment and underwriting
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The role of blockchain and smart contracts in policy management
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Future developments and evolving risks in the construction industry
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Case Study: Implementing AI-driven risk assessment in construction insurance
Related Courses
Course Administration Details
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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