Underwriters and Claims Practitioners in Insurance and Reinsurance companies; as well as Insurance and Reinsurance Brokers, with more than 4 years of work experience in dealing with Property and Business Interruption claims.

At the end of the programme, participants should be able to:

• Understand the role of the key players involved in the claim process.
• Understand policy wordings in relation to the basis of property damage claim settlements.
• Understand how a BI loss calculation is derived.
• Understand how policy clauses and conditions affect a loss or claim settlement.

• Claims process and the role of Loss Adjusters, Brokers, Agents and Insurers in property claims.
• Interpretation and application of common policy conditions, exclusions, endorsements and clauses in Fire and Industrial All Risks policies.
• Claim investigation and adjustment.
• Common practical issues in the adjustment of building, stock, plant and machinery claims.
• Business Interruption: policy coverage & policy specifications.
• How BI claims are calculated and adjusted.
• Considerations in setting the sum insured.
• The importance of Average.
• Examples of BI loss calculation.
• Case scenario: Fire & BI claim (Mock up exercise).

Chan Hwee Seng began his Loss Adjusting career in 1972. With more than five decades experience in loss adjusting, he has dealt with large numbers of property, liability, construction, fine arts and species insurance claims.

Nattakarn Prasitsumrit has worked on numerous business interruption claims, especially losses arising from the Thailand Floods in October 2011 and litigation cases across the Asia Pacific region.  She has presented seminars to industry professionals on business interruption, issues in handling CAT claims, issues surrounding the business interruption sum insured, power generation losses and refinery & petrochemical losses.  Nattakarn is an Associate of the Chartered Institute of Management Accountants (CIMA), a Certified Fraud Examiner (CFE) and a Certified Valuation Analyst (CVA).

Full Course Fee: SS$827.31 (incl. of 9% GST)

Net Course Fee: S$599.61 (incl. of 9% GST and after 30% FTS funding) for Singapore Citizens below 40 years old and Singapore Permanent Residents

Net Course Fee: S$327.31 (incl. of 9% GST and after 70% FTS funding) for Singapore Citizens aged 40 years old and above