Name: Property flood resilience (PFR) – An opportunity to mitigate risk
Start: 2022-07-27T07:44:00Z
End: 2022-07-27T07:44:38.000Z
Location: BrightTALK
Rating: 0

This session will consider what were previously universally adopted market agreements as to how BI claims in the UK should be handled; they took practice beyond policy wordings. Are they still in force?

Learning objectives:
•  Understand in what ways market practice went beyond policy wordings
•  Appreciate the extent to which those practices have been revoked
•  Consider whether they are still in force in an age of contract certainty

BI Market Agreements - are they still real?

The webinar will explain about the challenge of flood risk, in terms of overall risk and different types of flooding and how the risk is assessed.  Then exploring the opportunities to make properties more flood resilience using a case study used to explain what is possible.
Learning objectives:
• Understand the different types of flooding and how risk is assessed.
• Understand the basic concepts of flood resilience.
• Gain an understanding of how this can be delivered for HNW customers.

Minimising the impact of flood claims

This Session will provide an overview of new green technology and the implications on the insurance market. A panel Q&A will follow.

Renewable energy technology and the implications on the insurance market

This session will look at the ever-increasing risk of under insurance and the implications for brokers and their clients. This will be followed by a major loss case study talk.

Under insurance - the tragedy of finding out too late

This presentation will take a brief look at what'shot in the luxury market. It will also serve as a reminder of the importance of authenticity, providing some examples to demonstrate how provenance, condition and rarity add value. A panel Q&A will conclude the session.

Fine arts and specie - 'cars, stars, ming and bling'

This session will identify the significant differences between accounting terms and policy cover, quantifying the impact that has, the proportion of policyholders that are getting it wrong, and the reasons behind that.

Learning objectives:
• Understand insurance gross profit vs accounting gross profit
• Appreciate how to get the sum insured right
• Understand the magnitude of the problem

Gross profit - getting the insured amount right

PLEASE NOTE THE DATE HAS CHANGED TO WEDNESDAY 24 MAY.

This session will consider the UK approach to stock valuation, and identify problem areas, including paying premium on cost that isn’t real, the overlap with business interruption cover, the need for stock debris removal cover and insuring customers stock.

Learning Objectives:
o Understand how accountants value stock
o Understand how that differs from policy indemnity
o Be aware of the stock/BI overlap
o Understand stock debris removal cover

Insuring stock: a few thoughts

This session will address a number of issues with regards additional expenditure from a practitioner perspective, including:

• What are increased costs and where is the cover shown in the policy schedule?
• What is the ‘economic limit’?
• How and when is it applied?
• Who decides if a cost is reasonably incurred?
• Does it matter when increased costs are incurred?
• What about benefit beyond the Maximum Indemnity Period?
• What is AICW?
• What are ICW only policies?

Learning objectives: 
•  Understand what increase in cost or working cover is
•  Understand how it is applied in practice
•  Appreciate its critical importance for loss mitigation

Increase in cost of working – the peccadilloes

This webinar will explain what Parametric insurance is for those that don’t know., and how it fits with existing cover.

Learning objectives:

Understand what parametric cover is
Appreciate how it sits with existing policy cover
Be aware of its uses and limitations

Parametric insurance: is it the answer?

During this webinar attendees will gain an understanding of the complexities of listed buildings and how best to tackle claims involving listed buildings.  In particular, how might claims on HNW properties be dealt with and policyholders manages to ensure a smooth claim journey.

Learning objectives:
Understand the law as it applies to listed buildings
Understand the differences in grading
Understand what works can and can’t be done to listed buildings

Listed buildings - considerations for high net worth clients

Following on from our first webinar focused on basement flooding in this HNW series, in this second episode, Kevin Williams, Head of Subsidence at Sedgwick, will give an overview of managing subsidence claims for HNW properties and the complications which come with listed buildings and bespoke finishes.  The session will include an overview of what subsidence is, its causes and the methods available to investigate and monitor it.  Kevin will also discuss the repair solutions options which can be deployed for this private client market.

Speaker:

Kevin Williams BSc(Hons) MRICS ACII ACILA
Head of Subsidence, Sedgwick

Kevin is a chartered surveyor and loss adjuster, with over 25 years’ experience in handling subsidence claims. Kevin is the head of subsidence at Sedgwick and also a member of CILA’s Subsidence & Surveying special interest group.

Managing subsidence claims for high net worth clients

As inflation continues to bite, how is this impacting Insurers’ indemnity spend on material damage and business interruption losses and what can be done to mitigate this.

Learning objectives:
* Understand the reasons for claims costs increases
* Identify practical measures to mitigate the impact of cost increases

Inflation & the impact on claim costs

Our industry expert Damian Glynn will deliver a practical summary of key issues stemming from the latest business interruption judgements that the judge found for disease and denial of access extensions as they apply to Covid claims, and the findings underpinning them.
This will be a practitioner focused session rather than rehearsing legal aspects of proximate cause etc.

Learning objectives:
An understanding of the impact of the judgements pending further imminent hearings and potential subsequent appeals.

Business Interruption judgements: a loss adjuster’s perspective

The number of basement constructions and conversions have dramatically increased in the last few years providing additional space and adding significantly to the overall property value.  Along with overcoming planning and conservation hurdles, it’s easy to understand why this has become an attractive proposition for High Net Worth (HNW) clients. 
 
However, with the onset of climate change, flooding is becoming more common causing extensive damage to properties, especially those with basements. This was particularly evident this summer in London where many properties, including HNW homes with basements were flooded.  
 
In the first of a short series of webinars focused on issues facing HNW clients, this webinar will consider the particular challenges encountered with HNW basement floods whilst considering how different basement construction techniques are affected by flooding.  It will also cover how basements respond to perils and will identify tips on how to initially deal with a basement affected by flood. 
 
Dean Harding-Dempster
Dean is the UK technical practice group lead for Sedgwick’s building consultancy division.  He provides technical support to Sedgwick colleagues and to our clients covering a number of topics including the complex area of basement flooding.

Tackling the challenges of basement flooding - considerations for HNW clients

As the insurance industry explores long-term digital and environmental
ambitions, is there a danger that vulnerable customers could be
overlooked? Lauren will help you understand the prevalence of digital
exclusion and associated challenges.

Why digital doesn't click for all, and how to make it more inclusive

Damian is a renowned expert and leading industry authority on the highly
technical subject of BI. In this session he will give his insight into the most important aspects of BI that every broker needs to know.

Arranging business interruption cover – Three essentials to get right

It was Commercial Union that famously said “we won’t make a drama out of a crisis” nearly 35 years ago.  Fraudsters have an alternative strapline – “we will make money out of a crisis”.  Why?  Put simply, it’s about opportunity.  They prey upon and exploit human desire to help, support and do the right thing during times of extreme need.  During this webinar, Nicola Dryden will put questions from insurers to our director of investigation services, Ian Carman, to understand what we can do to mitigate fraud risks in times of crisis and surge.  Ian will look at the way fraud is managed during a surge event and examine how technology can play its part as part of a holistic counter fraud strategy during what are often challenging times both for insurers and their genuine customers.

Preventing a crisis from being an insurance fraudster's paradise

Ian will explore the importance of flood resilience in times of increased
flood risk, the process for considering a flood resilience strategy and help
you better understanding what flood resilience means in practice.

Property flood resilience (PFR) – An opportunity to mitigate risk

Sedgwick

Flood

Resilience

Broker roadshow

Insurance

Loss adjuster

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Property flood resilience (PFR) – An opportunity to mitigate risk

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