Why need for Specialized Industry Focused Training Programme on Risk Assessment and Fire (Property) Insurance?

Fire and allied perils are devastating for any business venture whether it is a manufacturing unit or service provider such as hospitals and hotels.

Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not cover the risks associated with organization if it fails to fulfill the conditions attached to policy.

This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to organizations.

Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in certain cinema halls/hospitals in the recent years in different parts of the country.

Objectives of the Training Programme:

This training programme is very practical in nature and is case study based to provide practical understanding of risks associated with fire and allied perils. The aim is to discuss and come out with solutions for difficulties faced during purchase of insurance policy, lodging and settlement of claims.

The programme is structured in such a way that it promotes interaction among managers/executives of:

• Firms who purchase fire insurance polices
• General Insurance Company involved in Business Development, Selling, Underwriting and managing Fire Insurance Claims
• Insurance brokers who are most important insurance intermediary
• Surveyors who are an important link in processing/ settlement of insurance claims.

Topics to be covered:

Every session will be followed by Questions/ Answers so that high level of clarity is achieved, which assists you in your career development.

• Introduction/ Risk Assessment – Necessity
• Fire Hazards and Fire Prevention – Importance
• Underwriting/ Evaluation
• Important Clauses under fire insurance
• Perils and Add on cover
• Tips to avoid disputes in fire Insurance Claims
• Claims Procedure – how to expedite it explaining with live cases
• Legal Aspects & Procedural Aspects
• Case Studies
• Mega Projects
• Comparison of SF & SP and Bharat Laghu Udyam Policy
• Action Required at your end when major accident takes place
• Immediate action
• Set up Task Force
• Procedure
• Interaction with Surveyors/ Insurers
• Involvement of your Insurance Intermediary
• When you need Insurance Claim Consultant/ Lawyer?
• Surveyor’s Prospective
• Major Claims – which got repudiated
• Legal Aspects/ Litigation
• Business Interruption Insurance (Loss of Profit Policy). Why corporates are buying it?

Who Should Attend the Training Programme (Target Participants)?

This is a good opportunity for:

• Managers/ Risk Mangers handling purchase of insurance and lodging of claims from
• Corporates
• Trading companies
• Manufacturing firms
• Exporters/ Importers
• Educational institutes
• Hospitals
• Hotels
• Shopping Malls/ Multiplexes
• IT companies
• SME’s etc.
• Managers/ Executives of Insurance Brokerage Firms – Business Development/ Underwriter/ Claim Department.
• Managers/ Executives of General Insurance/ Reinsurance Companies involved in business development, selling, underwriting and management of claims
• Surveyors (members of Indian Institute of Insurance Surveyors and Loss Assessors)
• Consulting firms providing risk management services, claims management services
• Academic-Faculty members/ students specia-lizing in Insurance planning to make career in General Insurance.

What you can expect from the Training Programme?

This executive development programme on Risk Assessment and Fire Insurance Claims will provide the participants with comprehensive, multi-functional perspective on how to assess risk, maintain processes for risk mitigation, comply with statutory procedures on containment of risk and management of claims.

• Policy terms are Important- Buy Right Product
• How to get a claim payment in 60 days – Insurance client
• How to get your client’s claim settled in 60 days – Insurance Brokers
• How to complete your assignment in 30 days – Insurance Surveyor
• Managing your risk – cost effectively – Insurance client/ Managers of Insurance companies.

60 days to passing of an insurance claim is what we will focus on. Time is money, as the claims process gets extended the cost for all the stakeholders goes up. It results in financial and goodwill loss for all the stakeholders, who are involved.

Training/ Delegate Fee:

Participation fee (Including Training, Study Materials & Lunch)

• Individual participation fee: Rs. 4,800/

Group participation

• Fee (team of 3 people and above): Rs. 4,500/- each.
• Group participation fee (team of 5 persons and above): Rs. 4,200/- each.
• Special Discount for members of PHD Chamber of Commerce and Industry fee: Rs. 3,800/- each.

Accommodation:

This is nonresidential Programme; however reasonable hotels/ guest houses are available in surrounding areas such as Nehru Place, Greater Kailash I & II, Panchsheel Enclave. (Nearest Metro Station Nehru Enclave & Nehru Place) Programme Coordinator will be ready to assist you in arranging the same (if required)

Certificate:

Certificates will be issued to the participants on completion of this Training Programme.

About the Organizers:

Insurance Foundation of India (IFI)

Insurance Foundation of India (IFI) is set up under Trust Registration Act 1882 of Government of India as a Not-for-Profit Organization.

It is engaged in conducting:

• Training Programmes
• Seminars
• Webinars
• Conferences
• Workshops

The best part of the Training Programmes being organized by us is that faculty comprises of those, who have up to date knowledge of working in Insurance Companies, Insurance Brokerage Firms, Insurance Surveyors & Loss Assessors, Law Firms or they are Insurance Buyers. This results in the sharing of practical and up to date knowledge by all stakeholders and hence up gradation of the skill in Indian Insurance Industry. This aspect is being highly appreciated in social media on global basis and now Insurance Foundation of India is rated as the top NGO in Insurance Training in the country and that too without any Government support.

PHD Chamber of Commerce & Industry

PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation. PHD Chamber is more than an organization of the business community, as it lives by the chosen motto In Community Life & Part of It and contributes significantly to socio-economic development and capacity building in several fields.

‘’PHD Chamber of Commerce and Industry (PHDCCI) is one of the Premier Chambers in India to have been accredited with “Diamond Grade” by NABET(QCI), at national and international level.

PHDCCI is a National Apex Chamber having its international office at Bahrain for 6 GCC countries, with 1, 30,000 companies as its members base, as total focus on the development of small and medium businesses. PHDCCI has co-opted National and International Industry Associations and Organizations through over 100 MoUs signed between the parties.’’

Tripaksha Litigation

Tripaksha Litigation is a litigation-focused law practice providing strategic legal representation and dispute resolution support to individuals, businesses and institutions across India. With a documentation-first and result-oriented approach, the firm handles complex disputes involving insurance claims, commercial matters and allied litigation, with particular emphasis on careful scrutiny of contractual terms, evidence and legal strategy. Its insurance practice covers health, life, property, motor, marine, commercial, corporate and specialised insurance disputes, including claim repudiation, delayed or short settlements, coverage disputes and surveyor-related issues, with representation before appropriate courts, consumer commissions, commercial forums and other competent authorities.

RIA Insurance Brokers Private Limited

RIA Insurance Brokers Private Limited is an IRDA approved Insurance Brokerage Firm (IRDA Direct Broker License No. IRDA/DB 120/03) with over 2,500+ clients across corporates, SMEs, and individual customers.

As an insurance broker, we represent the client and ensure that the client’s business interests are properly protected in their dealing with insurance companies. We use our domain knowledge and expertise to help the client properly assess their insurance needs, shop for the best value in insurance coverage and help the client in managing their claims.

Our focus is on:

• Professional Management
• Service with a Smile
• Cost Effective Solutions for clients
• With a view to achieve the above, our organization is divided into 4 groups:
• Risk Assessment Group
• Business Development Group
• Underwriting Group
• Claims Processing Group

Our Strength is client satisfaction in Claims Servicing & Policy Servicing:

As we handle the products of all the insurance companies, we are in a position to be a single point of contact for you to fulfill all your organizational needs for example:

• Property Insurance
• Project Insurance (CAR, EAR)
• Cyber Insurance
• Liability Insurance
• All Risk Insurance/ Industrial Insurance
• Life
• Motor Insurance
• Health

Association of Risk Managers (ARM)

In today’s complex global economy, Risk Management has become a cornerstone of sustainable business growth and resilience. As industries around the world navigate the dual forces of rapid technological advancement and heightened uncertainty, the need for a proactive, structured approach to managing risk has never been greater.

We serve clients at every level of their organization, whether as a trusted advisor to top management or as a hands-on coach.

Recognizing this critical need, the Association of Risk Managers (ARM) has emerged as a global leader dedicated to the advancement of education, research, and development in risk management. Our mission is to empower insurance risk managers in India and beyond to understand, anticipate, and mitigate risks in an ever-evolving landscape.

Association of Risk Managers (ARM) was incorporated as Society under section 21 of Societies Registration Act, 1860 vide with its own Memorandum of Association as well as Articles of Association, as required under Societies Registration Act, 1860. The management of ARM vests in its “Board Members” who are the founder members of ARM.