Why Choose this Training Course?
This Project Delay Management and Claim Assessment Master Class will provide a comprehensive understanding of time-related insurance policies, including how they work and what triggers claims. It will cover common policy issues related to project delays and explore various scenarios that might impact these delays. The application of policy coverage in different situations will also be examined.
Led by an expert with decades of experience in the field, this session will utilize interactive adult learning methods to engage participants effectively. The facilitator will use case studies and in-depth discussions to enrich the learning experience, ensuring that you gain valuable insights and practical knowledge on managing time-related insurance policies.
What are the Goals?
By the end of this COPEX training course, you will be able to:
- Understand How These Project Delay Insurance Policies are Arranged and the Protection Afforded
- Learn the Underwriter’s Consideration at the Time of Underwriting the Risk
- Appreciate the Claims Handling Aspect of this Subject Matter
- Highlight Type of Projects that Require Such Coverage
- Apply Some of the Concepts Relating to Project Delays and How it Affects the Contract Arrangements
Who is this Training Course for?
The training course is primarily designed to cater for project personnel and construction industry technical staff but not limited to Project Engineers, Project Managers, Quantity Surveyors, Consultants, Building Surveyors, Financial / Banking officials and representatives of Government agencies and utility companies.
Course Outline
Day One: An Overview & Construction Project Delays
- Managing Projects and Stakeholders
- The Need for Insurance in Construction Projects
- The use of A.L.O.P cover to mitigate losses
- Projects Contract Administration
- Conditions of Contracts (FIDIC and other contracts)
- Current projects in MENA and Asia – in relation to delays
Day Two: Application of the Construction Policy and its Typical Coverage
- How the CAR policy is arranged?
- Relevant Coverage
- Discussion on Period of Cover and hand over issues
- General Exclusions – Is War related losses covered?
- Policy Conditions – Taking reasonable precautions
- What if there are two policies arranged for the same site?
Day Three: Understanding the Policy itself
- Policy Operative Clause
- Sum Insured
- Limit of Liability
- Typical examples for each Section
- How about Section II losses and delays?
- Consequential loss – covered?
Day Four: Advanced Loss of Profits ( A.L.O.P) and its details
- Who buys A.L.O.P cover?
- Coverage and exposures
- Exceptions and Conditions
- Connection to Section I
- Role of Loss Adjusters in Claims Handling
- Insured loss and the A.L.O.P claim
Day Five: Handling Project Risks, Delays & Claims Management
- What are Underwriters Concerns?
- Risk Management and How it Works
- Claims Management and Project Monitoring
- How to over come project delays?
- The use of Performance Bonds
- Case Studies relating to delays and A.L.O.P cover
The Certificate
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
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