LEARISK´s training courses
Courses
40 years of experience support LEA in offering targeted training programs to managers and employees of technical and commercial areas from Insurance and Reinsurance companies as well as to risk managers from industrial companies.
The seminars aim to:
- Strengthen and deepen knowledge in order to make risk management more efficient in commercial and industrial companies
- Analyze the problem and employ specific techniques for the management of risks related to the industrial activity within the legal framework in force and the insurance conditions in the country the policy is issued.
- Analyze and study the different clauses, exclusion clauses and additional coverage which contemplate the risks and their adjustment to the requirements from insured and insurers.
The courses and seminars we organize are unique opportunities to create environments to think about technical solutions considering the business real situation.
Seminars can be of either of open or restricted access according to specific requirements, either on site or online learning courses (e-learning platform developed).
METHODOLOGY
All courses have been prepared based on the following methodology:
- Identification of different risks, events and circumstances which may cause damage and losses.
- Coverage methods: scope, limitations, most common and current ways.
- Risks identification, analyses, underwriting.
All courses include learning material, practical exercises and case studies.
Available courses are:
- All Risk.
Display program - Business interruption.
Display program. - Liability.
Display program - Construction and Erection – CAR / EAR.
Display program - Machinery Breakdown – Boiler & Machinery.
Display program
All Risk
MATERIAL DAMAGE TO PROPERTY
- Property risks and damages.
- Direct and Indirect damage.
- Fire, lightning and explosion.
- Spontaneous combustion.
- Implosion, machinery breakdown.
- Damages caused by water.
- Liquid spillage.
- Natural hazards.
- Political damage.
- Theft.
- Pollution.
- Lack of cold.
- Debris removal.
- Exploitation interruption.
- Extraordinary expenses.
- Liability for fire/explosion.
ALL RISK COVERAGE
- Coverage origin, differences with fire policies, jurisprudence, hazards examples.
- Insurable values and costs. Replacement value.
- Compensation value, proportional rule.
- Other methods: exemptions/deductible, first risk, compensation limits.
- Covered and excluded damages, damages characterization, direct and indirect damages.
- Covered and excluded assets.
- Hazards coverage.
- Atmospheric phenomenon coverage.
- Intentional damages coverage.
PREPARATION OF AN ALL RISK POLICY
- Coverage structure.
- Limits and sublimit determination.
- Estimated maximum losses.
- Exemptions and deductibles.
- Additional coverage, cleaning and removal of debris; spontaneous combustion; liquids spillage and pollution; water damage; lack of cold in cold stores; theft and others.
- Exploitation interruption.
- Boilers and machinery breakdown
ANALYSIS OF COVERAGE CONDITIONS
Covered and excluded risks according to different texts usually used in the Argentinean market. Analysis of “hard” hazards according to different texts.
- ALS text.
- Munchener Ruck text.
Analysis of “hard” hazards according to different texts.
LOSS OF PROFIT / BUSSINES INTERRUPTION
- Accidental interruption of commercial activity, activity affected by a scheduled stop.
- Model for the basic analysis of an interruption (Interdependences, drawings of external and internal flows).
- Visualization of an interruption.
- Economic assessment of a risk.
INSURABLE INTEREST
- Fixed and variable costs.
- Net Profit and Gross Profit.
- Extraordinary expenses.
- Non insurable damages or perjuries.
ENGLISH COVERAGE METHODOLGY
- Basic coverage scope.
- Determination of insured sum.
- Main exclusions.
- Additional coverages
- Exclusions
- Differences between the American and English type texts.
BASIC DEFINITIONS
The Loss.
- Coverage scope and policy structure.
- Annual production and sales.
- Net Profit
- Gross Profit – Gross Profit Rate.
- Fixed expenditures and other insurable expenditures.
- Salaries, wages and deduction for social expenses
- Extraordinary expenses.
- Retrospective annual commercial volume and retrospective annual production.
- Retrospective fixed expenditures.
- Interruption period, compensation period and restoration period.
- Proportional Rule –
- Exemptions.
- Premium rates.
- Policy for goods at sales price.
COVERAGE ALTERNATIVES
- Dual base for salaries and wages.
- Specific coverage of extraordinary expenditures.
- Contingent risks.
- Interruption due to machinery breakdown.
- Business Interruption in All Risk Coverage.
- Interruption coverage in construction and Erection works.
CIVIL LIABILITY
LIABILITY RISKS
- Introduction to contractual and extra contractual liability concepts, their possibility of insurance.
- Contractual civil liability, legal regime in force, non fulfillment, proof charge.
- Extra contractual civil liability, legal regime in force.
LIABILITY INSURANCE – GENERAL LIABILITY
- Liability as insurable interest.
- Occurrence concept.
- Coverage extension.
LIABILITY REGARDING MANUFACTURED PRODUCTS
- Seller and manufacturer as eventually responsible, legal natural of each responsibility.
- The manufacturer.
- Responsibility extension.
- Export products coverage, foreign rights for insurance coverage.
PROFFESSIONAL LIABILITY
- Fundaments for responsibility due to medical malpractice: professionals, clinics, medical insurance.
- Legal regime in force, contractual and extra contractual responsibility.
- Common coverage, claims vs events occurrence.
- Liability for notary, architects and lawyers. Common coverage.
LIABILITY DUE TO POLLUTION
- NMA 1685 Clause.
- Environmental damage.
- Own sites pollution.
- Clean-up clauses.
COVERAGE METHODOLGY
- Risks covered and excluded in more modern and up to date texts: PCA 81 Text and PCA 94 Text.
- Hard “losses” analysis according to different texts.
CONSTRUCTION AND ERECTION – CAR / EAR
- Works contract: Contractual responsibilities for the parties, their risk exposures.
- “Material damage” coverage: Insured property, contracting part interest, contractor and subcontractor interests.
- Coverage general conditions. Exclusions. Insured sum.
- Work/Erection period, maintenance period, testing period.
- Coverage endorsements and restrictions: Damage to existent property, contractor´s machinery and equipment, faulty design, extended maintenance.
- Third Party Liability in contracts regarding works and Erection, differences with civil liability in general, specific exclusions, cross liability.
- Advanced Loss of Profit Coverage (ALOP/DSU).
- Risk analysis and delimitation.
- Nature Risks, local hazards.
- Project´s inherent technical risks, contractor´s previous experience.
- Theft and other intentional risks.
- “Construction and Erection” sublimit in All Risk Policies.
EQUIPMENT INSURANCE FOR CONTRACTORS
- Covered and excluded assets.
- Covered and excluded risks.
- Third Party Liability
- Equipment quality assessment.
- Equipment and operations risks assessment.
- Conflicts with the insurable value machinery and equipment.
- Common damages and risks subscription.
MACHINERY BREAKDOWN INSURANCE
- Definitions – Covered and excluded risks.
- Manufacturing faults – Faulty materials.
- Erection errors and operational errors.
- Insured Sums – Old machinery value.
- Calculation of profit loss.
- Damages during the guarantee period.
- Most frequent and serious damages to each type of machine.
- Maximum loss calculation (PML y EML).
MACHINERY BREAKDOWN – BOILER & MACHINERY
DAMAGES TO TRUBINE AND BIG ENGINES
- Gas, vapor and hydraulic turbines.
- Design influence, speed, fuel, age and other factors.
- Repair costs and delay. Critical spare parts. Faults in blades and bearings.
- Example of losses in combined cycle and cogeneration plants.
DAMAGES TO ELECTRICAL MACHINERY
- Transformers, big engines and generators.
- Electrical events and shorts in electrical circuits. Depreciation adjustments in winding. Example of losses in transformers and generators.
DAMAGES TO BOILERS, FURNACES AND PRODUCTION MACHINERY
- Explosion and other damages in boilers.
- Maintenance conditions evaluation– corrosion
- Damages to electronic systems, software and hardware coverage.
- Example of losses in cement and paper manufacturing plants.
