Engineering Insurance

Engineering Insurance to provide a comprehensive understanding of engineering insurance, the fundamentals of risk assessment and its impact on underwriting, along with discussing the core and additional coverages, practical applications, and clarifying the essential differences between engineering insurance and traditional property insurance. The course is based on an interactive methodology that includes scenario cards, real case studies from the Egyptian market, and a full simulation of an engineering claim.

Content for Engineering Insurance

1. Understanding the basis of need, the origin of engineering insurance, and its classifications.
2. Types of engineering insurance and the fundamental differences between them (CAR, EAR, CPM, MB, DOS).
3. Contractors’ All Risks, Erection All Risks, Contractors’ Plant and Machinery, Machinery Breakdown, Deterioration of Stock.
4. Key essential points of the underwriting process and risk measurement and assessment.
5. The main core and additional coverages provided by engineering insurance.
6. The key exclusions for different types of engineering insurance.
7. Fundamentals of how engineering insurance differs from property and liability insurance.
8. Extensions in insurance for engineering projects under construction/erection and how they differ from renewal of property policies.
9. Sums insured in engineering insurance and their fundamental differences from traditional property insurance (pricing differences).

The training agenda for the program

Day One

• The emergence of engineering insurance.
• Contractors’ All Risks Insurance (CAR).

The second day

• Insuring all installation risks.

The third day

• The difference between contractor all risks insurance and erection all risks insurance.
• How are projects that involve the construction of buildings as well as the installation of devices and equipment handled and underwritten?
• Insuring all risks of contractors’ land equipment.

The fourth day

• Securing machine malfunctions.
• Securing content corruption.

The fifth day

• A quick review of the previous topics in preparation for the practical cases.
• Practical cases on the scientific material and application.

Target groups

Employes in Egyptian insurance companies (underwriting, claims, brokers, reinsurance).

Total training hours

5 training days – 25 hours