Practical Guidance for Insurance Buyers Part One: This course is designed to help non-insurance specialists achieve better outcomes when purchasing business and commercial insurance.

Overview

Insurance can be complex, and most organisations use brokers and advisors to help simplify the process. As helpful as that can be, the outlook and objectives of intermediaries can vary and may be influenced by different incentives and remuneration mechanisms.

Understanding how the insurance market works can seem complicated and ensuring that you get optimal service from all parties is not something that can be automatically guaranteed.

This course provides a clear understanding of the “rules of the game” and the objectives of the different “players”. It enables delegates to identify key considerations, different approaches, the questions they need to ask and the points to check in order to be confident that they are getting the best value and level of insurance coverage that is most appropriate for the requirements of their business.

Agenda

The course covers:

  • Overview of the insurance market
  • Understanding the key players, their perspectives, objectives, and incentives
  • What are your objectives and how do you ensure you achieve them?
  • Questions to ask
  • Critical checklists
  • Case studies
  • Q&A

Who would benefit from attending this course?

The course is designed for managers, employees and business owners who are involved or
responsible for procuring insurance within their organisations - but who are not insurance
specialists.

The practical insights and takeaways from the course will be immensely valuable to individuals who want to:

  • Understand how to get the most value out of their relationships with brokers and
    other intermediaries
  • Know the key factors to consider and which questions to ask when selecting
    insurance or specifying their requirements
  • Be confident that they can obtain the most suitable business insurance for their
    requirements in terms of what their policies cover and in how they operate in the
    event that they have make a claim
  • Ensure that they get the most cost-effective insurance to meet those requirements

This course will also be of relevance to new employees moving into procurement roles.

Course Presenter

Mark Tetley

Mark Tetley is a Senior Consultant in Insurance and Risk at Prospect Law. He has wide experience gained from senior positions across the London insurance market as both an underwriter and a broker, in a variety of sectors.

He provides advice and assistance on a wide range of insurance and risk issues, including claims and policy reviews, comprehensive nuclear liability and property insurance assistance, complex infrastructure project programme design and review, and many other aspects of risk mitigation.

Mark served as the Managing Director of the Power, Nuclear & Construction division at Lloyd’s insurance broker Price Forbes & Partners between 2014 and 2017. He also held other underwriting positions at Lloyd’s and was a founding director of the Lloyd’s business ventures in Japan and China.

Mark is a member of the International Nuclear Law Association (INLA) and continues to serve as a lecturer on both the International School of Nuclear Law and the International Nuclear Law Essentials courses. Mark is also involved in various UK renewable energy projects.

Teaching Method

This is an online course (2 hours duration) with materials included.

This course can also be provided via classroom delivery and can be customised to meet specific requirements and learning objectives.

If you would like to discuss the possibility of arranging an in-house or customised course, please contact Ben Robinson at [email protected] or 07869 307437


A new version of Prospect Law is available.