Construction risk and insurance aspects continue to be of interest to the insurance
industry. New and challenging engineering projects are being developed while
stakeholders need to be prepared to arrange and underwrite such technical risks.
The focus of this session will be the Contractors All Risks (CAR) policy exposure
related to third party losses. This would cover property damage (eg. Neighboring
properties, underground utilities and bodily injury aspects). Application of a few
key clauses and endorsements will also be addressed during this inter-active
knowledge sharing session.
Key Learning Outcome:
At the end of the course, participants will be able to:
- Identify the role and expectation of an Insurer when dealing with third party exposure
Compare and contrast the types of third party losses that can occur on site.
Highlight the main policy condition and operative clause applicable to Section II of the CAR policy.
Appreciate contractors constraints and the role of various stakeholders on site when dealing with third party exposures.
Understand the steps involved in application of Section II of the policy using case studies that will enhance the learning process.
How the construction industry operates
Who are the Third parties in project sites
Coverage under the C.A.R policy – Section II
Application of the VRWS and underground cable losses
A few technical comparison
Some underwriting consideration
- Site Visit: to construction project
A few typical questions that will be addressed include:
CAR policy structure
Selected TPL exposures – Section II coverage
Clauses & endorsements – VRWS, Underground cables and pipes, taking precautions
Typical case studies and application of clauses
Q & A.
- What do underwriters look for when evaluating third party exposures in construction risks?
Are loss minimization efforts at project sites covered under the policy?
How can the proximate cause of a claim on site be established if the evidence is no longer available?
Is a Design related loss covered under Section II of the C.A.R policy?
What if the third party claim is reported AFTER the rectification is carried out?
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.
IR. POOBA MAHALINGAM,
Eng(Hons), P.Eng, MIEM, MCIHT, AICLA(Aff.), ASII, ACTA
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.
Date and Time
Date: 1 - 2 December 2022
Time: Day 1 >> 9.00 a.m. - 5.00 p.m. | Day 2 >> 8.00 a.m. - 12.00 p.m.
Registration Closing Date: 30 November 2022
Early Bird (Register before 17 November 2022)
RM1220 (Single), RM1120 (Group)
RM1320 (Single), RM1220 (Group)
RM1420 (Single), RM1320 (Group)
RM1520 (Single), RM1420 (Group)