Web based training is ideal for participants who wish to receive an hour plus of focused training on a particular topic.Depending on the size of the group (for example, less than 10 – 15), the Web based instruction can offer telephone interaction with the trainer and other participants. For larger groups, it is best that telephone interaction is not permitted but questions are instead emailed to the trainer during the session and the trainer sets aside time to answer the questions received. 

Each participant is shown a power point presentation on their computer screen and hears the trainer(s) on their telephone. A course outline is also provided separately so that notes can be taken by participants.

Course List & Description

#1 Insurance Fundamentals: Concepts and Terminology

  • This course provides and overview of insurance issues, concepts and terminology.
  • The insurance market is described in terms of its behavior to losses, capital and profitability.
  • Insurance terminology is explained, including coinsurance, agreed amount, replacement cost and other insurance terms. 
  • Blanket insurance policies are discussed; business income and loss of rents are explained; liability and umbrella insurance are reviewed; and, the course ends with how to protect the lender and the biggest problems lenders face in today’s insurance market.

#2 Ordinance And Law Insurance Issues

  • This course describes the ordinance and law insurance exclusions found in most property insurance policies; the concept of “threshold” as relates to ordinance and law; and, what is conforming and non-conforming.
  • The course continues by reviewing various ordinance and law endorsements and policy provisions; business income and rent loss as relates to ordinance and law; and, premium costs for ordinance and law coverage.

#3 Windstorm Insurance Issues

  • This course evaluates the current condition of the windstorm insurance market place, including coverage availability, premiums charged, coverage issues such as wind versus flood, and wind PML studies.
  • The course goes on to discuss premiums caps for new loans, wind pool companies and the use of captive insurance companies, and borrower non compliance and forced placement of coverage.

#4 Blanket, Excess and Umbrella Insurance Policies

  • This course describes blanket, excess and umbrella policies and how they are used by property owners to protect multiple locations and liability exposures.
  • The use of coinsurance and so-called “margin clauses” are explained, as is the use of unit deductibles and per location limits versus blanket limits. Excess insurance including layered programs are reviewed.
  • Umbrella liability insurance is described as to how it fits over a primary general liability insurance program and what limits are appropriate for various property types and asset sizes.

#5 Insurance Certificate Review

  • This course provides a foundation in analyzing insurance evidence provided by insurance agents and companies.
  • The various forms of insurance evidence are reviewed including the ACORD 28, 27, 25 and 75.
  • Others forms of insurance evidence are also discussed such as “dec pages”, binders and cover notes.
  • The use of checklists that highlight deficiencies in insurance coverage is reviewed.

#6 Tenant Provided Insurance

  • This course addresses the situation where a commercial real estate tenant is responsible for providing insurance to protect the collateral.
  • The importance of lease review is discussed and well as comparing tenant provided insurance against lender requirements. 
  • The use of self insurance by tenants is analyzed as is the importance of the tenant credit rating.
  • The issues involved in supplementing tenant provided insurance to meet lender requirements is reviewed.

#7 Business Income and Loss of Rents

  • This course describes how “time element” losses can impact loan collateral.
  • The various forms of time element loss are discussed, including business income, loss of rents, extra expense, and extended period of indemnity.
  • The course discusses how much insurance should be prudently purchased to help protect the cash flow of the entity.

#8 Self-Insurance and Captive Insurance Companies

  • This course provides information on the use of self-insurance, or Alternative Risk Transfer (ART), including the use of high deductibles, self – retention and fronted insurance programs.
  • Also, the use of captive insurance companies is analyzed, including their history, location, financial ratings and how borrowers employ them to help manage risk.

#9 Builders Risk and Construction Insurance

  • This course is designed to provide attendees with information and concepts relating to builders risk and other types of construction related insurance.
  • These included contractor provided programs as well as liability issues, including workers’ compensation and auto liability.

#10 Principles of Property Insurance

  • This course is designed to provide attendees with a fundamental understanding of Property Insurance Principles, including: definitions and terms such as Coinsurance and Agreed Amount, Replacement Cost, Actual Cash Value; different forms used such as Basic, Broad and Special (“All Risk”) and Manuscript; important exclusions found in property insurance policies; how premiums are calculated; escrowing for property insurance premiums; filing property insurance claims; and, current property insurance market conditions for prices and availability of coverage.

#11 Principles of Liability Insurance

  • This course defines liability insurance versus property insurance, and explains many terms associated with liability insurance such as “occurrence,” “per location aggregate,” “claims made” and “umbrella” and “excess.” 
  • The webinar also explain different type so Alternative Risk Transfer for liability insurance, such as self insurance, captives and fronted program.
  • The course also describes when it is important to carry auto and workers insurance, how premiums are determined, special considerations related to nursing and assisted care facilities, Waiver of Subrogation and how the lender is protected by adding an “additional insured” endorsement to the liability policy.

Cost of Course

$750 professional fee for current clients; $1,500 for others.  This cost is for up to 10 participants.  Call for prices with more than 10 participants.

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