A Technical Comparison Between the C.A.R and Professional Indemnity (P. I.) Insurance Coverage For Project Risk
Project risks and insurance aspects continue to be of interest to the insurance industry. There are many stakeholders involved in a project – Developer, Main Contractor, Consultant, Sub Contractors, Suppliers etc. Each party has a role to play to complete the project. Different policies are procured by the parties and they are often misunderstanding in terms of coverage and respective policy applications.
The two day course will focus on the differences between two main policies namely - the Contractors All Risks (CAR) policy and the Professional Indemnity(PI).
Application of a few key clauses and endorsements will also be explored during this inter-active knowledge sharing session. A site visit to a Consulting Engineers office is arranged to enable the participants to appreciate better the work undertaken by Design Consultants.
The two day course will focus on the differences between two main policies namely - the Contractors All Risks (CAR) policy and the Professional Indemnity(PI).
Application of a few key clauses and endorsements will also be explored during this inter-active knowledge sharing session. A site visit to a Consulting Engineers office is arranged to enable the participants to appreciate better the work undertaken by Design Consultants.
Recommended for
Executives and Managers from insurance/reinsurance companies and broking firms. Also suitable for Underwriters, Business Development and Marketing Executives from insurance/reinsurance companies; Loss Adjusters; Client and Account Executives and Managers of insurance/reinsurance broking firms; and Managers /Executives of insurance buyers and consumers.
About the trainer:
IR. POOBA MAHALINGAM, Regional Risk Consultant - Singapore |
Pooba is a Regional Risk Consultant based in Singapore with 30 years of practical experience in risk/ insurance. Pooba is a professional engineer and operates under “Talent Asia Training & Consulting” of Singapore. He is specialized in the insurance space with special focus on engineering/ property insurance and risk management aspects. Pooba is a regular lecturer with the Singapore College of Insurance (SCI) and the Malaysian Insurance Institute (MII). He is also the Author of a MII publication entitled, “Engineering Insurance.” Besides training, Pooba also undertakes property risk surveys and provides consultancy services to various clients in Singapore and in the following regions: Asia, Middle East & Africa.
23 & 24 May 2024
9.00 a.m. - 5.00 p.m.
Method: In-Person Training
CPD Hours: 14
Registration Closing Date:
17 May 2024
CPD Hours: 14
Registration Closing Date:
17 May 2024
Day 1:
What do underwriters look for when evaluating a construction risk? |
Why is the limit value under the PI policy lower than the Sum Insured of the CAR cover? |
Should both the policies be triggered in case of an incident at site? |
Is a Design related loss covered in a Design and Build contract insurance program? |
What if the PI claim is reported AFTER the rectification is carried out? |
Day 2: Site Visit to project site