Course in General Insurance (Fire – Engineering – General Accidents – Allied Risks)

Concept of Insurance and Its Basics

• Definition of insurance and its main types.

• Differences between general insurance and life insurance.

• Objectives and functions of insurance in the economy.

Elements of an Insurance Policy

• Parties involved in the insurance contract.

• General and special terms of policies.

• Legal principles of insurance.

Risk Management in Insurance

• Definition and types of risks.

• Methods of dealing with risks.

• The role of insurance in transferring and distributing risks.

Fire Insurance Concepts

• Definition and scope of fire insurance.

• Properties covered under the policy.

• Causes of fire and coverage conditions.

Fire Insurance Policy

• Policy components and endorsements.

• Liability limits and exclusions.

• Valuation of insured assets.

Claims Procedures and Loss Compensation

• How to submit a claim.

• Damage assessment and investigation process.

• Compensation payment and reinsurance.

Types of Engineering Insurance

• Contractors’ all-risk insurance.

• Erection all-risk insurance.

• Machinery and equipment insurance.

Engineering Insurance Policies

• Coverage of main policies.

• Insurance periods and extension conditions.

• Special endorsements and exclusions.

Technical and Professional Risks

• Evaluation of construction project risks.

• Design and execution errors.

• Contractors’ and consultants’ responsibilities.

Introduction to General Accidents Insurance

• Definition of personal and general accidents.

• Difference between individual and group insurance.

• Risks covered under accident policies.

Types of General Accident Policies

• Liability insurance policies.

• Work injury insurance.

• Personal accident insurance.

Claims Settlement for Accidents

• Documentation and claim submission.

• Proof of liability and negligence.

• Arbitration and compensation procedures.

Allied Risks

• Definition and types of allied risks.

• Difference from the primary risk.

• Examples: explosions, storms, floods.

Integrating Allied Risks in Insurance Policies

• Conditions for including allied risks.

• Additional coverage and special endorsements.

• Effect on insurance premiums.

Risk Assessment and Insurance Valuation

• Estimating losses from allied risks.

• Preparing technical inspection reports.

• Coordination with relevant authorities for valuation.

Reinsurance Concepts

• Definition and function of reinsurance.

• Difference between direct insurance and reinsurance.

• Types of reinsurance (facultative / treaty).

Risk Distribution Among Companies

• Methods to distribute risk and reduce losses.

• Reinsurance companies’ obligations.

• Role of global reinsurance firms.

Relationship Between Insurer and Reinsurer

• Common contractual terms.

• Joint claims management.

• Coordination during major disasters.

Legal Framework of Insurance Contracts

• Sources of insurance regulations.

• Legal obligations of both parties.

• Termination, renewal, and dispute resolution.

Supervision of Insurance Companies

• Role of regulatory authorities.

• Licensing and performance monitoring requirements.

• Protection of policyholders’ rights.

Arbitration in Insurance Disputes

• Concept of insurance arbitration.

• Conditions for referring disputes to arbitration.

• Procedures for out-of-court dispute resolution.

Preparing General Insurance Portfolios

• Structuring an insurance portfolio.

• Managing risk balance.

• Analyzing technical and financial results.

Technical Pricing of Insurance Contracts

• Factors affecting pricing.

• Relationship between risk rate and insurance premium.

• Underwriting tools and pricing methods.

Performance Monitoring and Policy Improvement

• Performance indicators for insurance policies.

• Periodic review of policy terms.

• Product development according to market needs.