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Zurich Academy program/course descriptions

Develop your business. Learn more…earn more.

Zurich Academy can offer unique educational opportunities to help you, our Select Brokers®, develop your business in several industry niches while earning continuing education (CE) credits for insurance licenses and other professional designations.

Zurich Academy is a powerful tool for brokers because it can help advance your knowledge, credibility and success.

Our training programs are designed to support hot topics across the insurance and risk management spectrum and address current and emerging loss exposures. These programs:

  • Can be customized to address your specific needs and marketing initiatives
  • Give you face-to-face opportunities to develop productive relationships with key Zurich executives and business development personnel
  • Offer practical approaches and strategies that help you provide proactive advisory support to your clients
  • Present engaging discussions of actual cases gathered directly from our underwriters, claims professionals and Risk Engineers
  • Provide a highly interactive experience

Zurich Academy training programs can expand your knowledge to help you solve real problems and build customer trust. You can be more fluent with industry best practices, sector trends, loss experience, relevant regulatory and legislative developments and, most importantly, proven insurance and risk management strategies. You can help enhance your insurance knowledge in ways that can give you a competitive edge in the marketplace.

Alternative risk management

Alternative risk management programs: what producers need to know

Credits/Hours: 2

Organizations of all sizes face a risk landscape that is constantly evolving. This has created exposures that are unprecedented in their uniqueness (think, for example, of drone technology and its potential to cause both property damage and privacy violations). Traditional insurance solutions, the slow pace of insurance policy evolution and regulatory approvals are all factors that impede effective solutions.  Sophisticated customers are increasingly looking for alternative solutions. This program reviews such solutions, including the latest innovations in developing programs for captives.

Course highlights:

  • Captive aggregate stop-loss programs, which provide reinsurance for captives that can address frequency and severity exposures across multiple lines of coverage for multiple years
  • Integrated programs, which provide a single aggregate coverage limit that applies to a company’s portfolio of risks
  • Structured programs, including loss-sensitive programs, dual-trigger programs and research and development programs

Captives: Are they right for your client?

Credits/Hours: 3

A captive is a privately-held business that manages its own insurance operations with the financial and consultative assistance of an insurer. Due to the regulatory and capitalization requirements associated with running an insurance operation, a licensed, admitted insurer serves as a fronting company. A captive is a form of alternative risk transfer (ART) and enables a company to secure insurance and risk management expertise that is customized for its own operations. As an ART, a captive also allows a company to bypass traditional forms of risk transfer, including conventional forms of commercial insurance.

Captive ownership of an insurance operation allows a company to have control over claims and reserving practices, investments, enjoy certain tax advantages, and potentially recapture investment income and underwriting profit. At the same time, there are also disadvantages, including potentially large commitments of management time, administration and capital, as well as the potential for inadequate loss reserves and potential losses.

This program provides a solid foundation for the broker to understand captives and the tools used to evaluate whether such an arrangement is feasible for a given company. The program concludes by identifying critical criteria that might be considered in evaluating insurance companies to partner with in creating, implementing and managing a captive operation.

Course highlights:

  • Advantages and disadvantages of captives
  • Components involved in conducting an analysis to determine the feasibility for a business to establish a captive
  • Criteria that should be considered in selecting an insurance carrier to assist in the design, implementation and execution of a captive program
  • Regulatory environment, both domestically and internationally, relevant to captives

Claims programs

Claims management: the untold story

Credits/Hours: 3

Claims handling and management is an often overlooked and unappreciated part of the insurance business. Many policyholders have negative predispositions about claims handling, believing that insurers are forever looking for ways to deny coverage or reduce their liability. This attitude works to the detriment of insureds and insurers alike. Independent experts generally agree that most businesses are uninsured or underinsured for a broad range of coverages, especially those of a “discretionary” nature (like financial lines coverage). Prospective insureds may believe that the low likelihood of receiving a claim payment or the hassle involved in the process is not worth the expense.

Yet effective and comprehensive claims management can help businesses manage and grow their organizations. The claims management and reporting process can help businesses proactively manage risks that can help save money and lead to long-term organizational growth. This program is designed for agency and brokerage personnel at all levels to gain a better understanding of and appreciation for the claims management process and the role that all parties (customer, broker and carrier) need to play in order for insurance to work most effectively.

Course highlights:

  • Common claims myths that serve to discourage the purchase of insurance and/or the procurement of the proper amounts of coverage
  • Effective insurer claims services and resources that help insureds mitigate losses and run their businesses better over the long term
  • Thorough review of the claims management process — from initial intake to resolution — and strategies for managing the process to maximize results and customer satisfaction
  • Unique claims challenges faced by insurers, ranging from catastrophic events to more common situations, like uncooperative witnesses and unreliable medical reports

Construction programs

Critical concepts in builder’s risk insurance

Credits/Hours: 3

Builder’s risk insurance indemnifies a building owner for damage to buildings while they are under construction, loss of materials used in the course of construction and/or delays in completion for real property during the course of construction. Builder’s risk is stand-alone, first party coverage.

During this phase, multiple exposures exist, including those related to fire damage, windstorm, theft and vandalism. Coverage typically covers the construction phase only, and terminates when the work is completed and the property is ready for use and/or occupancy.

Many producers are confused about when to use an inland marine builder’s risk policy versus a commercial property builder’s risk coverage form, especially for large or complex construction projects. Here we will compare and analyze the differences when, where and under what circumstances each coverage might best apply.  This course also covers when and how to integrate installation floaters and rigging insurance into a comprehensive builder’s risk insurance and management program.  

Course highlights:

  • Analyze “soft cost”/optional coverages available on a builder’s risk policy, and when and how they might apply
  • Identify best practices in designing and implementing a builder’s risk insurance program to ensure coverage adequacy, suitable limits and to prevent coverage gaps
  • Identify the leading causes of builder’s risk losses
  • Understand how and when installation floaters may be appropriate in a construction project
  • Understand the similarities and differences between inland marine and commercial property builder’s risk coverage forms
  • Understand the specific perils covered and  excluded under a standard builder’s risk policy 

Construction-related environmental protection key practices

Credits/Hours: 3

The construction industry is experiencing an increase in demand for stricter environmental controls, standards of care and overall regulation. This is driven by aggressive enforcement of environmental protection at both the state and federal levels, and increasing social awareness over health and natural resource concerns. Ineffective or inadequate risk management and insurance programs designed to address environmental concerns can lead to financially catastrophic third party claims, fines and penalties, and reputational damage for contractors and their clients.

This program is designed to address fundamental and common concerns that contractors and their clients face in typical construction projects. Core principles of construction-related environmental insurance and risk management programming are also explored in the program. 

Course highlights:

  • Identify the components of a comprehensive environmental insurance program
  • Learn the critical components of a construction project Environmental Control Plan
  • Understand environmental inspection and reporting requirements
  • Understand the major federal (and companion state) regulations that can create pollution liability and both the financial and non-financial consequences of noncompliance

Contractor’s pollution liability insurance

Credits/Hours: 3

Contractor’s Pollution Liability (CPL) provides third party coverage for bodily injury, property damage, defense and cleanup resulting from the discharge, dispersal, escape or release of pollutants due to contracting operations performed by or on behalf of a contractor. The coverage is offered on a claims-made or occurrence basis and can be provided on a project or blanket program basis. Typically, the purchase of CPL is motivated by contractual requirements imposed by an owner/general contractor and by the need for asset protection and coverage in the event of a catastrophic environmental loss exposure, which can cause both financial and reputational ruin.

This program helps the producer understand the types of loss exposures faced by the broad range of contractors and subcontractors involved in construction projects, including the regulatory landscape within which they need to operate. The program then reviews CPL coverage and its role in managing construction-related environmental exposures.

Course highlights:

  • Define strict, joint and several, and retroactive forms of liability, as they pertain to federal and state environmental protection laws
  • Identify existing and potential environmental hazards at a construction job site
  • Identify the broad range of environmental contractors, including abatement, hazardous materials, handling and cleanup, waste management and environmental consultants whose work can generate a liability claim
  • Learn why the Commercial General Liability (CGL) policy may  not provide adequate coverage for a pollution event, and see how pollution coverage in the CGL form has eroded over time
  • Understand major coverage grants in the Contractor’s Pollution Liability policy

Contractor’s protective indemnity and rectification

Credits/Hours: 2

Contractor’s Protective Indemnity insurance is a first party coverage designed to provide direct benefits to the named insured for costs that exceed the design professional’s Professional Liability insurance resulting from negligent acts, errors and omissions in the rendering or failure to render professional services. These policies may also offer difference-in-coverage (DIC) insurance above the underlying professional liability policy, extending coverage to the named insured in the event the underlying policy is deficient in coverage, especially with respect to exclusionary language. Essentially, this coverage supplements the design professional’s Professional Liability insurance program.

Rectification Indemnity insurance provides first party coverage for the costs a contractor incurs in correcting a design defect that is discovered after the construction is put in place, but before it actually results in a professional liability claim. With this coverage in place, a contractor can have the funding to correct the error and keep the project moving without having to file a claim against the design professional and establish negligence.

This program reviews and analyzes Contractor’s Protective Indemnity and Rectification Indemnity insurance, explaining the need for these coverages and how it is underwritten and structured. All producers working with contractors need to be conversant with these vital coverages.

Course highlights:

  • Understand the purpose and benefits of Contractor’s Protective Indemnity coverage and Rectification Indemnity coverage
  • Identify underwriting requirements associated with Professional Liability, Contractor’s Protective Indemnity and Rectification Indemnity coverages
  • Learn the difference between Contractor’s Protective Indemnity and Rectification Indemnity coverages
  • Understand the basic contract provisions of both coverages

Critical construction-related coverages

Credits/Hours: 3

Construction entails a broad range of risks before a project commences, during construction and after it concludes. A comprehensive risk management and insurance program is necessary to protect owners, general contractors and subcontractors, architects and engineers, construction workers on-site, as well as civilians who may work in a facility under construction or who may be passersby.

This program provides an extensive review of critical construction-related coverages, including OCIPs/CCIPS, transportation coverage/inland marine, contractor’s equipment coverage, builder’s risk insurance and a wide range of construction-related surety bonds.

Reviewed are major contract definitions, coverage grants, exclusions, typical endorsements and other policy features.

Program highlights:

  • Analyze construction-related contracts as to definitions used, coverage grants and exclusions
  • Identify common loss exposures associated with construction projects and the types of coverages designed to address those loss exposures
  • Identify gaps or deficiencies in these coverages and how these deficiencies can be addressed

Infrastructure development insurance strategies

Credits/Hours: 1

A nation’s infrastructure — its roads, bridges, power plants, dams, reservoirs and countless other structures — provides the foundation for its economy and promotes quality of life. Likewise, the failure to maintain, upgrade and invest in infrastructure can damage the economy and imperil health and safety.

Multiple studies indicate that the maintenance, upgrading of and investment in the U.S. infrastructure has been seriously deficient. The American Society of Civil Engineers estimates that by 2020 “aging and unreliable” infrastructure will cost the nation’s businesses $1.2 trillion.*

Proposed actions at both federal and state government levels suggest growing support for significant infrastructure investment. This program reviews the current state of U.S. infrastructure, proposed solutions, as well as risk management strategies and potential insurance needs. Infrastructure development is likely to impact, either directly or indirectly, the entire economy. Producers need to understand the implications of this initiative and how it may affect their clients.

Course highlights:

  • Explore four key components of infrastructure: communications, energy, transportation and water resources.
  • Review data that indicate gaps and deficiencies in U.S. infrastructure and why a significant financial commitment to infrastructure maintenance and investment is needed.
  • Identify current and emerging risks to, or caused by, deficient infrastructure, including supply chain disruptions, cyber security breaches and professional and liability exposures associated with the inability to plan for or manage infrastructure deficiencies.
  • Learn why businesses should strengthen enterprise risk management programs to make them more resilient in the event of infrastructure breakdowns.
  • Identify insurance and risk management programs that may be required in conjunction with anticipated investments in infrastructure maintenance and development.

*Fink, Larry. “Why Aging Infrastructure Will Cost the U.S. Economy Dearly.” Market Realist. 18 September 2014.


Workforce trends in the construction industry

Credits/Hours: 3

A rapidly aging workforce and workforce shortages are about to impact a broad range of industries in the next 10 years. This is being driven by three major trends:

  • The younger end of the labor force (workers 16-24) is expected to decrease from 13.6% in 2010 to 11.2% in 2020*
  • The primary working age group (those between 25 and 54) is expected to decline from 66.9% of the labor force in 2010 to 63.7% in 2020*
  • By contrast, the percentage of workers 55 years and older is expected to grow the fastest—from 19.5% to 25.2% in the same period*

According to the Bureau of Labor Statistics, the construction industry will require about 1.7 million workers by 2020, while the computer industry is expected to have similar needs.* Yet economists are not making the same arguments for developing a competent, highly trained workforce in construction as they are in the computer or healthcare industries.

The Bureau of Labor Statistics also reports that six of the fastest growing specialty occupations are in the construction and extraction occupational groups.* Assistants to brickmasons, blockmasons, stonemasons and carpenters, as well as tile and marble setters, are projected to be the fourth- and fifth-fastest growing occupations. The need for iron and rebar workers, and assistants to pipe layers, plumbers, pipefitters, steamfitters and glaziers is also expected to grow rapidly.

Given the rapid demographic changes and construction industry needs, insurance professionals need to understand where skills and knowledge will be compromised or lost, as inadequate expertise and/or experience can invariably result in more construction-related losses. This program reviews the problems, trends and critical role insurance professionals will need to play in helping to find solutions.

*United States Department of Labor, Bureau of Labor Statistics. Occupational Outlook Handbook, 2012-13 Edition.

Course highlights:

  • Identify strategies for capturing and sharing institutional memory and knowledge that can  enhance workplace and construction site safety
  • Learn how and where knowledge and skill gaps can result in heightened loss exposures in a variety of property and casualty lines
  • Understand demographic trends impacting the construction industry

Cyber security programs

Network security and privacy: what producers need to know now

Credits/Hours: 2

Data security breaches continue to occur with both alarming frequency and significant severity. It is no longer unusual for single incidents of a data breach to involve the compromise of several hundred thousand or even millions of records involving confidential personal or commercial information. These breaches may also not be discovered for considerable lengths of time.

Perpetrators of data breaches range from amateur hackers to political and social activists to organized crime gangs. While intuition might suggest that larger, more sophisticated organizations would be able to fend off attacks, the reality is otherwise, as major U.S. banks and government organizations have been successfully and repeatedly hacked. In addition to data breaches, liability exposures can include trademark, copyright and/or patent infringement.

Data security and privacy exposures can result in massive financial loss and reputational damage for organizations and businesses of all sizes, in the public, private, for-profit and non-profit sectors. Producers need to understand the scope and extent of these exposures and the risk management and insurance strategies available to address them.

Course highlights:

  • Learn about the multiple U.S. federal and state privacy laws, and similar privacy laws in effect in the European Union, their requirements, and potential fines and penalties imposed by these regulations
  • Learn the essential components of a network security and privacy insurance contract, definition of insureds, defense and settlement provisions and exclusions
  • Understand how the underwriting process works in assessing an applicant and related best practices for identifying and quantifying a risk
  • Understand the scope and extent of network security exposures and that organizations of all sizes are at risk

The evolving cyber security legislative and regulatory environment

Credits/Hours: 3

The frequency and severity of data security breaches continues to grow at alarming rates. Both the private and public sectors have been successfully targeted, including our largest banks, retailers and government agencies. Successful hacks not only compromise personally identifiable information, they also threaten our infrastructure (energy grids, water supplies) and national defense. As a result, legislators and regulators throughout the world are becoming more actively involved in cyber security. This program reviews cyber security-related legislative and regulatory developments in the U.S. and Europe.

In the U.S., several (often conflicting) federal regulations govern cyber security, while nearly all states have some form of cyber security regulations. This patchwork of regulations has hastened calls for a standardized approach.

Given the growing prominence of cyber security as a fundamental risk management tool, it is imperative that insurance producers have a fundamental understanding of the rules and regulations that govern cyber security and privacy protection activities. These rules and regulations may create liability exposures that will need to be managed through both insurance and non-insurance strategies.

Course highlights:

  • Analyze the driving forces behind cyber security regulation
  • Learn cyber security and privacy protections advanced by the European Union and how they compare and contrast to U.S. cyber security laws
  • Learn the principles of cyber security regulation and Model Laws being proposed by the National Association of Insurance Commissioners
  • Learn why an understanding of the shifting legislative and regulatory environment is critical to the development of enterprise-wide cyber security risk management programs applicable to the private sector
  • Understand initiatives being taken by the New York State Department of Financial Services and how these actions might influence state regulation and NAIC Model Laws going forward
  • Understand the current cyber security regulatory landscape at both the federal and state level

Employee benefit programs

Integrated disability and absence management

Credits/Hours: 3

Workplace productivity is a key objective of all organizations. One of the biggest impediments to productivity is absence. Absence from work is an ongoing and normal reality, caused by both unplanned events — like sicknesses, injuries and certain family circumstances — as well as planned events, like vacations and maternity leave.

But managing absences, and doing so within the context of both federal and state law, can be particularly challenging. Integrated disability and absence management is a key component of a comprehensive human capital strategy designed to optimize employee productivity, effectiveness and even morale.

This program reviews and analyzes the critical components of an integrated disability and absence management program.

Course highlights:

  • Understand key federal and state laws impacting absence management, including the Family Medical Leave Act and the Americans with Disabilities Act
  • Review and analyze Return-to-Work programs that get employees back to work in a cost-efficient manner and which fairly balance employer and employee needs
  • Understand the range of both mandatory and discretionary short- and long-term disability insurance programs
  • Demonstrate how comprehensive integrated disability and absence management programs can improve productivity and morale

Maximizing the value of employee benefits

Credits/Hours: 2

Employee benefits are an extremely important tool in attracting, retaining and rewarding a quality workforce. Talented employees are the key to any competitive, vital and profitable organization. Yet, despite this, most organizations do not view their human capital as an integral part of their overall Enterprise Risk Management program. They do so at great peril, because inadequate or ineffective human resource and employee benefit management can put organizations at great risk.

Employee benefit program design, cost and implementation issues involve significant challenges for organizations of all sizes. These challenges include rising healthcare costs, under-funded pension obligations, increasing Workers’ Compensation costs, aging workforces, and uncompetitive executive retention and succession planning programs. Benefit programs, including health and welfare programs, need to be managed with the same attention as property and casualty risk management programs.

All producers need to have a solid working knowledge of HR and benefit program management needs because they are so inextricably woven into an organization’s overall risk profile. Through this program, producers will understand why HR management and employee benefit optimization are central components of an enterprise-wide risk management program.

Course highlights:

  • Learn about current and emerging HR and benefit management-related organizational risks
  • Learn how effective multinational pooling programs and benefit programs are structured, using case studies involving Fortune 500 companies
  • Learn why employee benefit management programs need to be an integral part of an organization’s overall enterprise risk management program
  • Understand the potential advantages of utilizing tailored coverage for globally mobile employees, multinational pooling programs and benefit captives in order to accomplish benefit planning objectives
  • Understand the importance of employee benefits in attracting and retaining a qualified work force

Energy and marine programs

Ocean cargo insurance

Credits/Hours: 3

Ocean cargo insurance provides first party property coverage for goods in international transit. It is critical coverage for any company engaged in the importation or exportation of ocean-going shipments. Typical insureds include companies involved in import/export wholesaling and distribution, and manufacturers who have overseas processing operations, import raw materials and/or export goods for overseas sales.

The generalist property and casualty producer, who addresses a broad range of client needs, may or may not be aware of ocean cargo-related exposures. This course addresses those needs, including a review of critical marine-related insurance terminology (including Incoterms, the terms of sales that help determine who is responsible for providing insurance during international transit), Inchmaree clauses (which cover losses related to a latent defect in a vessel’s hull or machinery and losses resulting from errors in navigation or management of the vessel by captain or crew) and risk management and underwriting concerns. This program will help the producer identify and facilitate the proper structuring of an ocean cargo risk management and insurance program.

Course highlights:

  • Define ocean cargo coverage and the unique terminology used in ocean cargo and marine-related policy forms
  • Identify types of clients who are candidates for ocean cargo coverage
  • Understand the basic structure of the ocean cargo policy, including the extent of “all risk” coverage and exclusions
  • Understand the benefits of ocean cargo coverage, including its importance in bank and trade financing arrangements

Insurance and risk management strategies for the energy sector

Credits/Hours: 3

This course focuses on how changing energy demand, consumer preferences and legislative and regulatory developments are impacting the oil and gas, mining, power generation and alternative energy industries. Particular focus is placed on risk and crisis management strategies in the wake of recent major disasters, including the oil spill in the Gulf of Mexico and the nuclear reactor catastrophe in Japan.

Course highlights:

  • International needs of energy companies
  • Recent developments impacting the exploration and development of natural gas resources and their impact on risk management and insurance programming
  • Unique risk management challenges and strategies associated with the energy industry

Risk management and insurance needs of middle market energy companies

Credits/Hours: 3

Middle market energy companies are those involved in the oil and gas, mining, power generation and renewable energy businesses with up to $250 million in annual revenues. Often privately-held family businesses, they operate in an industry that is typified by low profit margins, intense competition, significant regulation and often thin management depth or “bench strength,” particularly as it pertains to risk management and insurance expertise. Yet deficiencies in this area can jeopardize the survivability of these companies. This program reviews major challenges faced by these companies and strategies for dealing with them.

Course highlights:

  • Identify trends impacting the profitability of companies in the middle market segment of the energy sector
  • Understand why and how five areas — cyber security, fleet management, vendor control, property management and worker safety — present major opportunities for loss control improvements
  • Learn how to coordinate insurance programming and non-insurance risk strategies into a comprehensive, integrated enterprise risk management program that can address the five major challenges faced by these companies

Enterprise risk management programs

Manage the risk challenge (a business simulation)

Credits/Hours: 3

Supply chain management involves the management of flows involving goods and services, including the procurement and storage of raw materials, work-in-progress inventory and finished goods from point of origin through delivery. This management process requires coordinated, comprehensive and highly integrated design, planning, execution, control and monitoring of supply chain activities. Effective supply chain management can bring significant value to an organization, including helping it gain a competitive advantage, enhance profitability and shareholder value.

Numerous events and circumstances can jeopardize supply chains and all must be planned for. These events can include cyber events like hacking, natural catastrophes, fires, explosions, political risks, theft, fraud, corruption and/or regulatory developments that impact business operations. An inability to anticipate and manage supply chain disruptions can result in a host of negative outcomes, like financial losses, reputational damage and customer defections.

This program involves learning about supply chain management through the use of a business simulation, in which participants are assigned to teams. An effective insurance and risk management program can help maximize cash, while a program that is ineffective can result in cash depletion and bankruptcy.

Through this highly interactive business simulation, participants will gain a much better understanding of the importance of supply chain management. They will also learn about the role and proper design and implementation of an insurance and risk management program designed to ensure supply chain effectiveness.

Course highlights:

  • Compete against other teams to formulate an insurance and risk management program designed to respond to supply chain disruptions, including natural catastrophes, terrorism, employee sabotage and cyber hacking
  • Identify both direct and indirect suppliers who populate an organization’s supply chain
  • Identify events that can cause supply chain disruptions
  • Learn how effective supply chain management can enhance organizational competitiveness and value

New risks of advancing technology

Credits/Hours: 3

Technology is rapidly changing the way both people and machines connect and communicate. One area where this is playing out is the “Internet of Everything,” in which a broad range of personal and business-related wireless applications and devices are connected. The resulting connectivity can make us more productive and enhance our living conditions and standards in multiple ways. It is making possible things like driverless cars and even surgery that can be carried out remotely, with the doctor hundreds of miles away from the actual operating room.

But this connectivity can be a mixed blessing. Hackers might be able to infiltrate the driverless car and send it into oncoming traffic or they might send contradictory messages from the robotic surgical device to sabotage an operation. Supply chain risks can involve potential disruptions to the manufacturing and distribution of products due to natural or man-made catastrophes, or even endemics like the Asian flu or Ebola. Data collected via cloud computing could rely on servers located in regions that may be subject to extreme weather conditions or political turmoil and disturbance which could jeopardize data security.

The rapid pace of change is a challenge for the insurance industry, which is culturally ill-adapted to such change. For example, actuarial data and regulatory approvals for new insurance products designed to respond to these new risks can take a long time to develop and manage. Additionally, how traditional products (like property insurance, management liability coverages and Workers’ Compensation) will respond to these emerging exposures is very much in question. This course addresses those issues and more.

Course highlights:

  • Identify the broad range of current and emerging technologies and how they can impact risk management and insurance needs
  • Learn that privacy laws vary – sometimes radically – around the world, which can subject individuals and organizations to unexpected liability exposures
  • Understand how different traditional insurance products may or may not respond to current and emerging loss exposures and what insurance professionals need to do to plug any gaps in coverage
  • Understand the types of products and capabilities presented by 3D printing and the types of product and liability exposures created by this technology

Strategic ERM and insurance programming

Credits/Hours: 3

Enterprise risk management (ERM) has been around a while, but its focus has shifted. In the 20th century, ERM was mainly focused on traditional risks like fire, windstorm and theft. These risks were primarily managed through insurance, with residual risk management coming in the form of loss control and claims management. Ultimately, protecting the organization’s balance sheet was the primary objective.

In the 21st century, the range of loss exposures is broader and often unprecedented, with potentially larger and more catastrophic consequences, including terrorist attacks, global economic crises and massive natural disasters. Further, the risk landscape is changing rapidly, abetted by technology, global outsourcing and cloud computing.

Many consumers and brokers view risk management and insurance through a narrow prism — as an expense item on the income statement. The reality, however, is different. Recent studies suggest that companies with strong enterprise risk management programs experience better financial results.* The focus on ERM has changed from a defensive, balance-sheet preservation approach to a more holistic, proactive, creative approach. Insurance professionals need to understand this new approach to ERM and the role that insurance plays in a comprehensive, well-rounded risk management program.

* Journal of Applied Business and Economics, Vol. 16 (2). 2014. Aon Risk Solutions. Aon Risk Maturity Index, Insight Report. November 2013.

Course highlights:

  • Analyze the phases of the risk-evaluation process, including the identification of possible loss exposures, prioritization of those exposures and analysis of alternative risk management strategies, which (separately or in combination) can most optimally manage risk
  • Explain why independent rating agencies are now requesting public companies to provide greater oversight for and reporting of enterprise risk management programs
  • Understand why organizations benefit from greater risk accountability at all levels of the organization
  • Evaluate  the broad range of risks faced by organizations, including people-related risks, market risks, financial risks, strategic risks, reputational risks and operational risks
  • Demonstrate how to incorporate enterprise risk management decision criteria into major business decisions, like mergers and acquisition, global expansion and HR management decisions

The chain is only as strong as its weakest link: Supply chain risk management and insurance strategies

Credits/Hours: 3

Supply chain risk management is rapidly becoming a major concern for companies of all sizes, domestically and internationally. Disruptions due to natural or man-made catastrophes that impair or damage supply lines can threaten a company’s very existence. Accordingly, regulators both in the U.S. and abroad are requiring companies to provide an assessment of their supply chain risks and management capabilities in appropriate financial disclosure documents.

This program highlights the importance of supply chain risk management and the role Supply Chain Insurance can play in such a program. All producers need to have a sound working knowledge of this issue in order to adequately and proactively advise their clients in a matter of significant and increasing concern.

Course highlights:

  • How a supply chain risk assessment is conducted and potential challenges (including organizational opposition and inertia) that can impede it
  • How inadequate supply chain risk management can create professional liability exposures for directors and officers
  • How to apply a supply chain “fire drill” to get a preliminary assessment of a company’s ability to deal effectively with a supply chain disruption
  • What Supply Chain Insurance does and does not cover, and the role of this coverage in a coordinated, comprehensive risk management program
  • Why both the monetary and non-monetary costs associated with supply chain disruption can be catastrophic
  • Why conventional insurance coverages can fail to adequately address supply chain loss exposures
  • Why regulators all over the world are requiring companies to disclose information related to business and supply chain resiliency to investors and other stakeholders

Environmental programs

Contractor’s pollution liability insurance

Credits/Hours: 3

Contractor’s Pollution Liability (CPL) provides third party coverage for bodily injury, property damage, defense, and cleanup resulting from the discharge, dispersal, escape or release of pollutants due to contracting operations performed by or on behalf of a contractor. The coverage is offered on a claims-made or occurrence basis and can be provided on a project or blanket program basis. Typically, the purchase of CPL is motivated by contractual requirements imposed by an owner/general contractor, and by the need for asset protection and coverage in the event of a catastrophic environmental loss exposure, which can cause both financial and reputational ruin.

This program helps the producer understand the types of loss exposures faced by the broad range of contractors and subcontractors involved in construction projects, including the regulatory landscape within which they need to operate. The program then reviews CPL coverage and its role in managing construction-related environmental exposures.

Course highlights:

  • Define strict, joint and several, and retroactive forms of liability, as they pertain to federal and state environmental protection laws
  • Identify existing and potential environmental hazards at a construction job site
  • Identify the broad range of environmental contractors, including abatement, hazardous materials, handling and cleanup, waste management and environmental consultants whose work can generate a liability claim
  • Learn why the Commercial General Liability (CGL) policy may  not provide adequate coverage in the event of a pollution event, and that pollution coverage in the CGL form has eroded over time
  • Understand major coverage grants in the Contractor’s Pollution Liability policy

Lender environmental liability protection

Credits/Hours: 3

Environmental liability is a major loss exposure for financial institutions engaged in financing loans where real estate is used as collateral. The “doomsday scenario” for lenders is when a commercial real estate deal defaults and forecloses, combined with a situation in which an environmental condition exists on the property that may put the lender at risk of liability exposure associated with environmental damage, including claims related to third party property damage and/or bodily injury.

This program provides an understanding of the issues and insurance and risk management solutions that can address environmental loss exposures associated with commercial real estate financing. The program highlights the importance of the effective design and implementation of a Lender Environmental Collateral Protection and Liability Insurance, also known as Secured Creditor Environmental Insurance, in managing environmental risk.

Course highlights:

  • Identify environmental liability exposures faced by real estate loan originators, including banks, mortgage bankers, insurance companies and pension funds
  • Understand the credit underwriting challenges faced by real estate lenders as they pertain to environmental liability exposures
  • Learn why Lender Environmental Collateral Protection and Liability Insurance can be a  cost- and time-effective solution for real estate lenders in managing environmental risk

Environmental risk management and insurance

Credits/Hours: 3

Environmental risk management and insurance programming should be a “top of mind” concern for all companies, because nearly all organizations leave an environmental footprint that can potentially create property damage, bodily injury and/or liability exposure. Sometimes these footprints are obvious, as in the case of smokestack industries like coal-burning utilities or manufacturers that discharge effluent into waterways. But many organizations inadvertently create liability-inducing pollution and/or are unaware that the byproduct of their activities is, indeed “pollution.” For example, a real estate management company might be exposed to indoor air pollution claims (like Legionnaire’s Disease) associated with mold spewed forth from a damaged HVAC system. A high school may get sued because a chemistry class experiment resulted in vapors being inhaled, which caused respiratory infections. Pollution may even be in the form of very unlikely substances, as when large amounts of cheese were discarded into city sewers by a manufacturer, resulting in significant damage to the sewage system in a local municipality.

A long-standing liability concern relates to the potential latent effects of exposure to pollution: it sometimes takes years, even decades, for such exposure to have damaging consequences.

This program reviews current and emerging environmental loss exposures, the different industries (some expected, some unexpected) that have these loss exposures, the changing legislative and regulatory environment, and relevant risk management strategies, including the major types and applications of environmental insurance.

This program will have value to all commercial producers, regardless of area of focus, because environmental exposures are broad-based and apply to virtually every industry.

Course highlights:

  • How almost all businesses may engage in activities that can lead to pollution liability exposure
  • Review of California’s climate change regulation (Assembly Bill 32) and its potential impact on climate change debate
  • Top regulatory priorities being pursued by the U.S. Department of Environmental Protection
  • Why “pollution” can be broadly defined to include not only conventional “toxic” substances, but also non-toxic substances that can still result in pollution liability exposure
  • Why traditional coverage forms, including the Contractor’s General Liability policy, may not be adequate to meet pollution liability exposures
  • Commonly-used specialized forms, including Contractor’s Pollution Liability, Fixed Price Remediation, Professional Environmental Consultant’s Liability and Lender Environmental Protection forms

Ethics and compliance (state-mandated CE programs)

These courses are designed to satisfy state-mandated ethics, insurance rules and regulations, and/or anti-fraud training requirements. Check with us as to individual state rules.


Accountability: an ethical imperative

Credits/Hours: 3

This course is designed to satisfy state-mandated ethics and regulatory training requirements.

Adverse medical outcomes can create serious malpractice liability problems for doctors and healthcare organizations. Many health organizations are adopting a radically new communications strategy designed to forestall, eliminate or minimize lawsuits when an adverse medical event occurs. This strategy is based on a commitment to a full and fair objective evaluation of the negative event and, based on it, quickly and collaboratively working out a settlement when the fault is with the provider. There is also a corresponding investigation and communication to address why fault may not lie with the provider. These strategies have resulted in a significant decline in medical malpractice liability and have tremendous potential application in other lines of insurance as well.

Course highlights:

  • Understand how to apply  the lessons of the healthcare accountability-based approach to other lines of insurance
  • Explain the futility of a “deny and defend” approach to liability claims
  • Demonstrate how some healthcare providers have solved their medical malpractice problems by adopting a customer service mentality

Insurance anti-fraud training

Credits/Hours: 3

Insurance fraud costs U.S. consumers billions every year and the losses attributable to it continue to grow. The Coalition Against Insurance Fraud offers a very conservative estimate of $80 billion a year in losses due to insurance fraud.* It is often difficult to calculate insurance fraud loss accurately, because experts agree that a large percentage of insurance fraud incidents are both successful and undetected.

Insurance fraud is widespread and has a wide range of perpetrators, from organized crime gangs “staging” accidents to an individual applying for life insurance who misrepresents his smoking habits. Many consumers believe that insurance fraud is acceptable, taking the position that “I’ve paid my premiums every year for the past 25 years but haven’t gotten anything back.”

The bottom line is that insurance fraud has a highly damaging, corrosive effect, which is manifested in several ways: unnecessarily higher premiums, more intrusive, time-consuming claims investigation activities and a loss of faith and trust in insurance by the very consumers who vitally need the protection it provides. This course defines insurance fraud, reviews the scope and extent of fraud, ways to detect it, and carrier and producer responsibilities in identifying, reporting and stopping insurance fraud.

*As of December 2015. Coalition Against Insurance Fraud website. (Accessed February 14, 2017)

Course highlights:

  • Identify how fraud is perpetrated for different lines of insurance, including life, health, property and auto insurance
  • Identify major “red flags” that can indicate insurance fraud is being planned or has been perpetrated
  • Learn insurer responsibilities for identifying, reporting and stopping insurance fraud
  • Learn the producer’s role and responsibilities in identifying, reporting and stopping insurance fraud
  • Learn the sources of different types of losses in the insurance industry, including fraud, waste, errors and abuse and the interrelationship of these sources of loss

Healthcare programs

Healthcare trends and planning opportunities

Credits/Hours: 3

The healthcare industry has been undergoing tremendous change for several years, challenging the ability to deliver quality healthcare under very stressful financial and economic circumstances. This course focuses on four areas that are driving the healthcare industry: profitability, demand, regulation and legislation and technology. Through the prism of these four interrelated, dynamic and ever-changing areas, insurance advisors, consultants and producers will need to provide flexible and coordinated risk management and insurance programming advice and guidance.

This course will provide a review and analysis of the critical issues and skills that producers will need to give clients and the information and guidance necessary to make strategic risk management and insurance decisions.

Course highlights:

  • Impacts of healthcare reform and other legislation on the healthcare industry
  • Needs in the depth and breadth of insurance programming to address the broad and growing range of catastrophic loss exposures faced by healthcare organizations
  • Trends creating financial challenges and stresses within the hospital and healthcare system

The Affordable Care Act: Latest developments and impact on insurers and brokers

Credits/Hours: 3

Healthcare reform through the Affordable Care Act (ACA) is nearly seven years old. Its implementation has been difficult and rocky. Its impact has also been significant and has given ammunition to support arguments of those in favor of, as well as those opposed to, this major legislative initiative. Current developments pose a threat to its continuation as a total or partial repeal remain possibilities.

But since the Affordable Care Act is still in effect, insurance practitioners need to have a solid foundation in the major components of the law, an objective understanding of the current and emerging loss exposures associated with the law, and the risk management and insurance programming alternatives available to address those exposures.

For example, the Act requires healthcare providers to implement the use of electronic healthcare records to better coordinate the efficacy and cost of patient care. This creates significant privacy breach exposures. New organizational structures encouraged by the ACA, including Accountable Care Organizations, provide financial incentives for better coordination of care, but also open up such organizations to potential antitrust claims and lawsuits against directors and officers if financial performance does not meet objectives. Millions of new insureds pose the risk that there could be physician shortages that might compromise the quality of care, leading to increased malpractice claims. Finally, private healthcare exchanges are also being created by many insurance brokers to market not only health insurance products, but a broad range of other financial products. This might increase E&O exposures. These are a few of the current and emerging loss exposures that have developed as a result of healthcare reform explored in this program.

Course highlights:

  • Objectives of healthcare reform and how they were integrated into the Affordable Care Act
  • Types of current and emerging loss exposures associated with healthcare reform, including privacy breaches, patient and healthcare worker safety risks, private health insurance exchange malpractice exposures and property risks, as well as the risk management strategies that can help address these exposures
  • Types of organizations designed to promote cost-effective healthcare delivery, including Accountable Care Organizations and medical homes
  • Latest developments related to partial or total repeal and possible alternative healthcare delivery systems and their implications

International programs

Global insurance compliance programming: Removing the “fear factor”

Credits/Hours: 3

In spite of difficult economic conditions throughout the world, global trade will continue to grow and will do so for enterprises of all sizes. But these opportunities also present risk, especially those related to the proper structuring, execution and maintenance of global insurance programs. An uncoordinated, improperly administered or structured program can subject the insured, broker and insurer to inadvertent coverage gaps, potentially catastrophic loss exposures, malpractice claims, fines, penalties and possibly even imprisonment. Complicating matters is that rules, regulations and premium tax policies are sometimes difficult to understand, apply and can change at any moment.

This course reviews the current global compliance landscape, focusing attention on the most common mistakes and misconceptions. It also offers ideas for designing programs that can effectively balance customer needs related to compliance, control, cost, coverage and service. Emphasis is placed on illustrating key concepts through the use and discussion of case studies focused on real life scenarios. All producers doing international business will come away with actionable, practical ideas they can use right away.

Course highlights:

  • Build a global insurance and risk management program that balances customer needs related to compliance, control, cost, coverage and service
  • Explain negative and potentially severe consequences for the insured, broker and insurer when programs are found to be non-compliant
  • Understand why global risk management and insurance programming are increasingly becoming a central issue in corporate governance
  • Evaluate trends and recent regulatory and legislative developments driving increased concern and interest in global insurance compliance programming
  • Reveal common mistakes and misperceptions in the design of global risk management and insurance programs

International risk management for the middle market company

Credits/Hours: 3

Middle market companies are broadly defined as those with annual revenues between $50- $750 million. Increasingly, these companies look to overseas markets to fuel growth. But conducting overseas operations is increasingly difficult due to the complex nature of insurance needs, rules and regulations. Navigating this complexity used to be the exclusive province of major Fortune 500 companies. But now, middle market companies need access to the same kind of international risk management and insurance expertise.

This program reviews critical global insurance structuring programs, including Controlled Master, Freedom of Service and Financial Interest coverage. It also reviews the growing range of loss exposures and insurance coverage and risk management strategies designed to address these needs. To enhance the learning experience, participants will see how strategies are applied through case studies.

Course highlights:

  • Identify the current and emerging risks faced by organizations operating globally
  • Learn how Freedom of Service program structures can facilitate insurance coverage arrangements in the 27 countries of the European Union
  • Understand how a Controlled Master program issued in the United States, with local policies issued in countries in which the company operates, is designed and administered
  • Understand how Financial Interest coverage is structured to protect the financial interest of a parent company when countries do not allow foreign carriers without a local license to provide coverage on a non-admitted basis
  • Understand best practices for facilitating the underwriting process associated with global accounts

Winning Titan: Be a player in international insurance (a business simulation)

Credits/Hours: 3

International insurance programs can be extremely complex and demanding in terms of compliance issues, coverages, coordination and integration with local insurance laws and regulations, costs, and ongoing servicing and administration.

This program presents participants with an opportunity to engage and interact in a business simulation that requires them to analyze the needs of a hypothetical manufacturing company named Titan Industries.

During the course of the simulation, participants are grouped in teams and are confronted with multiple events which will impact the design, implementation, execution and administration of Titan’s international insurance and risk management programs. The events present multiple options for which teams must select the “best” or most optimal alternative and justify the selection thereof, balancing a number of often conflicting demands.

One of the main objectives of the simulation is to demystify what the insurer is doing when presenting, underwriting, structuring and servicing an international insurance and risk management program and to understand how that process works from beginning to end.  All producers working with customers who have global operations will benefit from this intensive, comprehensive, hands-on learning experience.

Course highlights:

  • Compete against other teams to formulate a globally compliant insurance and risk management program
  • Develop awareness about the factors that may help ensure, or which might impede, successful program implementation
  • Identify customer circumstances, goals and objectives in order to optimize global insurance and risk management program strategies
  • Identify important insurance program structuring strategies, including use of master policies in coordination with local policies, and Difference in Conditions/Difference in Limits strategies designed to provide comprehensive coverage and prevent coverage gaps
  • Learn how the entire process of presenting, underwriting, structuring and servicing an international insurance and risk management program works from beginning to end

Management liability programs

Management liability exposures of the mid-sized financial institution: Challenges and opportunities

Credits/Hours: 3

Mid-sized financial institutions, with assets up to $500 million and including banks, brokerage firms, savings and loans, investment banks, trusts, mutual fund companies and other institutions, are a large, but often underserved sector of the financial services industry in terms of risk management and insurance guidance. This course explains why risk consulting and insurance planning needs are on the rise for this group.

Course highlights:

  • Examine new threats facing directors and officers of mid-sized financial firms
  • Understand how aggressive competition for new customers (and retention of existing ones) is motivating risky liability-inducing behaviors
  • Learn how the Dodd-Frank Wall Street Reform and Consumer Protection Act (a.k.a. financial services reform legislation) impacts mid-sized financial institutions

Management liability risk management strategies

Credits/Hours: 3

Closely-held businesses and not-for-profit organizations have something in common: they both face significant professional liability exposures, yet are frequently remiss in confronting these exposures effectively. While professional liability claims are generally low in frequency, they tend to be high in severity, with dollar verdicts capable of wiping out or severely disabling these types of organizations. In addition, reputational damage can also take a severe toll. This program explains why these organizations need these coverages and what obstacles and objections are voiced in response to these needs. It also reviews cost-effective management liability risk management and insurance strategies.

Course highlights:

  • Understand why private companies and not-for-profits typically lack sound management liability insurance and risk management programs
  • Identify traditional and increasingly non-traditional instigators of lawsuits against private companies and not-for-profits
  • Learn about different types of claims and discuss risk management strategies designed to avoid, minimize or mitigate losses
  • Learn how to package management liability submissions in order to facilitate the underwriting process and most effectively advocate on behalf of the applicant to help secure terms and pricing that meet the needs of both insurer and customer
  • Understand the different insurance policy types available to address management liability risks and their associated costs and benefits

Manufacturing programs

3D printing: Miracle development or insurance nightmare?

Credits/Hours: 3

3D printing promises to revolutionize everything from the foods we consume to our medical care to our national security. The technology can theoretically reproduce any type of object, but its sophistication, implications and rapid development are major challenges to risk management executives and insurance carriers alike. Examples of 3D technology include:

  • 3D printers may now be able to fabricate guns capable of evading airport screening devices
  • 3D printing technology has been used to create entire concrete residential homes
  • Biotechnologists are developing techniques for creating 3D printer-generated, patient-specific organs to replace failing ones, which will not be subject to rejection
  • NASA is hoping 3D printing will enable astronauts to print spare parts in space, eliminating the need for large loads of spare parts and decreasing weight to allow spacecraft to travel further and faster

3D printing technology creates significant new exposures associated with general and product liability, property, equipment breakdown, worker safety, errors and omissions, product recall, copyright and patent infringements. Not all of these exposures are insurable.

This program provides a broad overview of this technology and its capabilities, a sampling of its potential and dangers, and examines what we need to do to address the corresponding risk management and insurance challenges associated with 3D printing.

Course highlights:

  • Identify the broad  range of current and emerging loss exposures associated with 3D printing
  • Identify the broad range of insurance needs associated with 3D printing
  • Identify underwriting challenges associated with 3D printing
  • Understand current and future applications of 3D printing technology
  • Understand the impact 3D printing can have on various industries, businesses, and on social, cultural and economic fronts

Three critical insurance needs for manufacturers

Credits/Hours: 3

The manufacturing industry is extremely competitive and is characterized by tight profit margins and an emphasis on cost control. Manufacturers tend to focus on maintaining or lowering input costs — whether they are labor, materials or fuel and energy. This cost focus extends to insurance buying decisions, because this consumes a relatively high percentage of both cost of goods sold as well as general overhead and administrative expenses.

While manufacturers need a broad range of property and liability coverage (including professional lines), this course takes the position that three key products should form the core of the average manufacturer’s insurance program: Workers’ Compensation (because it represents 40-50% of the manufacturer’s total insurance spend), Property (because of exposures related to production equipment breakdowns, shipping and transportation risks, theft and vandalism) and global insurance programs (because more manufacturers are producing, selling and/or purchasing products from overseas).

Course highlights:

  • Learn the critical components necessary to design, implement and execute a global risk management and insurance program for manufacturers of all sizes
  • Learn why export opportunities are improving for manufacturers
  • Understand strategies that can impact Workers’ Compensation experience modification rates, especially for different demographic segments of the employee population
  • Understand why manufacturers tend to neglect or overlook critical policy gaps in traditional property insurance coverages and how these gaps can be filled with specialized property forms tailored to the needs of the manufacturing industry

Practice management

A day in the life of the underwriter: What producers need to know about commercial underwriting

Credits/Hours: 3

Underwriting involves four core skills: 1) evaluating risks to determine if they are insurable; 2) avoiding adverse selection; 3) based on the level of risk involved, determining the proper premium to be charged and the terms and conditions of the contract; and 4) monitoring these decisions over the life of the contract in order to make needed contractual changes, appropriate renewal decisions (if applicable) and to continually improve underwriting results.

The underwriters have additional important objectives. They must help establish a vibrant, stable and predictable market for insurance, which enhances market confidence and promotes the use of insurance to manage risks. They also need to proactively identify needs so that the proper types and amounts of coverage are secured. Underwriters must also provide excellent service both before the contract is issued, during its tenure, and when (and if) the policy (and others that might be needed) are either renewed or considered. Finally, the underwriters must be vigilant in looking for fraud and other evidence of unethical behavior, which can erode confidence in the market and lead to unnecessarily higher rates.

This program is designed to help producers and other agency personnel understand the underwriting process and provide advice on how agency personnel-underwriter relationships can be managed in order to accomplish optimal results for all parties concerned: the customer, the agency and the carrier. The concepts and principles are presented broadly enough to apply to all lines of commercial coverage, including property, financial lines and general liability.

Course highlights:

  • Identify documentation used by underwriters and the importance of its availability, timely transmission and accuracy
  • Learn key behaviors that can help facilitate and enhance the underwriting process to the benefit of customer, agency and carrier
  • Learn how and why underwriters examine different parts of a company’s business, management, operations, competitive and regulatory environment, and other factors that impact insurability
  • Understand common problems that can lead to breakdowns in the underwriting process

Financial statement analysis for insurance producers

Credits/Hours: 3

Financial statements include critical information that can provide insights about a company’s past, present and future prospects. They also reflect an organization’s mindset about risk. This course helps participants see and use financial statements in a different way: to identify loss exposures or planning opportunities that are amenable to risk management and/or insurance solutions.

Course highlights:

  • Analyze the purpose, function and interrelationships between the balance sheet, income statement, cash flow statement and notes in a financial report
  • Learn how to calculate and use key financial indicators to assess a company’s financial health
  • Use financial statements to identify key insurance and risk management needs and how those needs can be financed

Property, real estate and equipment breakdown programs

Property insurance: vital coverages and coverage gaps

Credits/Hours: 3

Property insurance is generally described as insurance on commercial buildings and their contents. Most insureds have relied on the traditional ISO form for coverage.

This course reviews the basic property form, with a particular focus on critical coverage gaps, including those pertaining to equipment breakdown, renovation, reconstruction and new construction, vacancy, shipping and transportation, coverage for contractor’s equipment, coverage for lost accounts receivable information and other electronic data.

Typical standard exclusions are also reviewed for the coverage gaps they create. The training is designed to help insurance producers, consultants and other advisors provide better advice and guidance to clientele in need of cost-effective and sufficiently protective property coverage.

Course highlights:

  • Identify unique loss exposures confronted by different industries and how traditional property forms may or may not respond to those loss exposures
  • Learn about coverage forms or endorsements that can bridge these coverage gaps
  • Learn about significant coverage gaps, exclusions and limit/sublimit characteristics that could compromise an insured’s property insurance arrangements
  • Understand the major coverage provisions in traditional property contracts

Mid-sized vs. large account property insurance needs

Credits/Hours: 3

Companies of different sizes have significantly different property insurance needs. Small to mid-sized companies generally do not present unique loss exposures that are beyond the scope of traditional insurance solutions. At the same time, this market segment still needs to be aware of common property insurance gaps that need to be addressed. On the other hand, larger companies with more extensive property holdings (including possible global property holdings) do present some unique loss exposures that often require customized solutions, including manuscripting and layered programs.

This program reviews some of the major concerns that may impact the design and implementation of property insurance programs for the mid-sized vs. large property insurance customers.

Course highlights:

  • Understand the characteristics of both mid-sized and large buyers of property insurance, including how they are similar and how they differ
  • Understand property policy provisions that are typically relevant for mid-sized and large accounts respectively
  • Understand differences in mid-sized vs. large account property insurance needs through the use of case study examples

Property risk management for large multinational corporations

Credits/Hours: 3

Large corporate customers face unique and growing property-related loss exposures that require a comprehensive, holistic, dynamic and evolving risk management orientation and mindset. This program seeks to review and analyze the major challenges facing these customers, risk management strategies for the most frequent and severe losses and the criteria that such customers might consider in selecting an insurer.

Special emphasis is placed on the growing risks associated with natural catastrophe exposures, building globally compliant insurance and risk management programs, coverage gaps due to inaccurate or out-of-date valuations and business continuity planning.

This program can benefit all insurance producers working on property risk management and insurance programs with large and multinational organizations.

Course highlights:

  • Identify property-related loss exposures typically faced by large multinational corporations
  • Identify the challenges associated with building and implementing a globally compliant risk management and insurance program
  • Identify typical and recurring property-related loss exposures and the risk management strategies that can be deployed to address them
  • Learn, through case study applications, how different types of global property programs can be structured
  • Understand the impact of recent global catastrophe losses on capacity and pricing

Surety programs

Small business surety programs

Credits/Hours: 3

A surety bond is a three-party contract involving a principal, who agrees to perform certain work, an obligee, or the party for whom the work will be done, and an insurance company that issues the surety bond guaranteeing the performance of the principal. If the principal fails to perform, the surety or insurance company steps in to indemnify the obligee or to complete the contract. Construction projects typically involve the use of bonds.

All federal contracts greater than $100,000 require bonding. The most common types of bonds are “bid bonds,” which guarantee that the principal will make good on a bid that is accepted, and a performance bond, which is required pursuant to the awarding of the bid and stipulates what the principal is expected to do by way of performance. Many other bonds may also be issued in the context of a public or private construction project, including supplier bonds, environmental bonds and licensing/permit bonds.

The Small Business Administration (SBA) promotes and supports a wide range of programs designed to help socially and economically disadvantaged and minority-owned small businesses, as well as businesses run by veterans or service-disabled veteran-owned small businesses, and businesses operating or planning to operate in historically underutilized business zones (HUBZones). Some of these programs provide surety bond guarantees for companies that would ordinarily not qualify under underwriting standards applied in the private surety market.

This program provides an overview and analysis of the importance of surety bonding to small business owners, programs available to support economic growth under the SBA and other information critical to the qualification for these programs. This program is important for all producers who meet the small business definition, and other similar state and local regulatory and economic development organizations.

Course highlights:
  • Surety bonding underwriting criteria applicable to small businesses
  • Types of bonds typically needed by small businesses, bond guarantee programs and the types of carriers issuing bonds
  • Types of programs available through the SBA to support economically and socially disadvantaged groups, veterans and geographical regions, and the bonding requirements imposed by the SBA for these programs

Public-Private Partnerships (P3s)

Credits/Hours: 3

Public-Private Partnerships (also known as P3s) involve a collaboration or partnership between a public entity (like a municipal, state and/or the federal government) and one or more private sector companies, often to help develop large-scale infrastructure projects, like bridges, tunnels, roadways or sports stadiums. In these situations, the private sector typically provides and delivers the management and construction expertise, with the government entity supporting the project through outright grants, revenue subsidies and/or tax breaks

Public-Private Partnerships can present significant challenges, including political risks (depending on the region), supply chain gaps, ability to secure financing, meet contractual obligations and deliver on construction-related guarantees on time and on budget. This program reviews and analyzes P3s and the insurance and risk management strategies designed to help support them.

Course highlights:

  • Identify the opportunities and conditions that create the need for P3s
  • Identify the top five project risks associated with Public-Private Partnerships
  • Learn how P3s are generally structured, including the definition and use of Special Purpose Vehicles (SPVs)
  • Learn the criteria (including risk profiles) established by rating agencies that result in investment-grade financing arrangements
  • Understand the critical risk management and insurance components of a P3 program

Technology programs

New risks of advancing technology

Credits/Hours: 3

Technology is rapidly changing the way both people and machines connect and communicate. One area where this is playing out is the “Internet of Everything,” in which a broad range of personal and business-related wireless applications and devices are connected. The resulting connectivity can make us more productive and enhance our living conditions and standards in multiple ways. It is making possible things like driverless cars and even surgery that can be carried out remotely, with the doctor hundreds of miles away from the operating room

But this connectivity can be a mixed blessing. Hackers might be able to infiltrate the driverless car and send it into oncoming traffic or they might send contradictory messages from the robotic surgical device to sabotage an operation. Supply chain risks involve potential disruptions to the manufacturing and distribution of products due to natural or man-made catastrophes, or even endemics like the Asian flu or Ebola. Data collected via cloud computing could rely on servers located in regions that may be subject to extreme weather conditions or political turmoil and disturbance which could jeopardize data security.

The rapid pace of change is a challenge for the insurance industry, which is culturally ill-adapted to such change. For example, actuarial data and regulatory approvals for new insurance products designed to respond to these new risks can take a long time to develop and manage. Additionally, how traditional products (like property insurance, management liability coverages and Workers’ Comp) will respond to these emerging exposures is very much in question. This course addresses those issues and more.

Course highlights:

  • Identify the broad range of current and emerging technologies and how they will impact risk management and insurance needs
  • Learn that privacy laws vary – sometimes radically – around the world, which can subject individuals and organizations to unexpected liability exposures
  • Understand how different traditional insurance products may or may not respond to current and emerging loss exposures and what insurance professionals need to do to plug any gaps in coverage
  • Understand the types of products and capabilities presented by 3D printing and the types of product and liability exposures created by this technology

The changing risk landscape for technology-based companies

Credits/Hours: 3

This course is an overview of the unique and growing loss exposures faced by companies and organizations involved in a broad range of technology-based fields, including electronics, information technology, communications, factory automation and medical devices.

Many of these risks relate to the rapid pace of technological change, an evolving regulatory and legal environment, globalization, supply chain risks and professional liability exposures.

Course highlights:

  • Review growing incidence of internal (employee-instigated) and external proprietary data theft and sabotage
  • Identify emerging risks faced by directors and officers of technology-based companies
  • Understand new technologies and the surprising (and unanticipated) liability claims they spawn

A growing threat to data security: Information, network security and privacy management

Credits/Hours: 3

Any company or organization that handles personally identifiable information about customers, customer lists or other information critical to an organization’s functioning, could suffer a range of loss exposures that could result in catastrophic financial or reputational loss.

Data can be mismanaged, stolen, sabotaged or lost. Organizations can inadvertently post copyrighted or defamatory information that could trigger claims. Further, data security and privacy laws vary widely, both within the U.S. and around the world.

This course provides an overview of the emerging risks associated with cyberspace and what companies can do to manage them.

Course highlights:

  • Growth and cost of data breaches in both the public and private sector
  • Growth in the sophistication in the tools and techniques of cyber criminals
  • Information vital in underwriting and customizing the security and privacy policy

3D printing: Miracle development or insurance nightmare?

Credits/Hours: 3

3D printing promises to revolutionize everything from the foods we consume, to our medical care, to our national security. The technology can theoretically reproduce any type of object, but its sophistication, implications and rapid development are major challenges to risk management executives and insurance carriers alike. Examples of 3D technology include:

  • 3D printers may now be able to fabricate guns capable of evading airport screening devices
  • 3D printing technology has been used to create entire concrete residential homes
  • Biotechnologists are developing techniques for creating 3D printer-generated, patient-specific organs to replace failing ones, which will not be subject to rejection
  • NASA is hoping 3D printing will enable astronauts to print spare parts in space, eliminating the need for large loads of spare parts and decreasing weight to allow spacecraft to travel further and faster

3D printing technology creates significant new exposures associated with general and product liability, property, equipment breakdown, worker safety, errors and omissions, product recall, copyright and patent infringements. Not all of these exposures are insurable.

This program provides a broad overview of this technology and its capabilities, a sampling of its potential and dangers, and examines what we need to do to address the corresponding risk management and insurance challenges associated with 3D printing.

Course highlights:

  • Identify the broad  range of current and emerging loss exposures associated with 3D printing
  • Identify the broad range of insurance needs associated with 3D printing
  • Identify underwriting challenges associated with 3D printing
  • Understand current and future applications of 3D printing technology
  • Understand the impact 3D printing can have on various industries, businesses, and on social, cultural and economic fronts

Trade credit programs

Trade credit insurance: Ignore at your own risk

Credits/Hours: 3

Trade Credit Insurance is issued to a company to indemnify it in the event the company’s customers (debtors) are unable to make payments on products or services received due to insolvency (Chapter 7, Chapter 11, etc.), protracted default (non-payment within six months of the due date of the receivable) and/or political risks. Political risks include, but are not necessarily limited to, political or economic events that prevent the transfer of payment (like inconvertibility of currency), confiscation, expropriation, and/or nationalization of assets of the customer by a host government, political violence (like an act of war) and/or non-payment for sales made to state-owned enterprises.

Trade credit losses can expose a company to severe financial harm, ranging from an erosion of liquidity and working capital all the way up to bankruptcy. Yet few companies use Trade Credit Insurance, evidence of a widespread lack of awareness of the risks and the availability of a cost-effective solution.

This program provides a review of Trade Credit Insurance, including its definition, why it is needed and how policies are underwritten and structured. To reinforce concepts, examples of trade credit programs are presented and discussed.

Course highlights:

  • Understand the unique underwriting criteria used in evaluating trade credit applications
  • Learn the purpose and benefits of Trade Credit Insurance
  • Understand key policy provisions and protections provided in a Trade Credit Insurance policy
  • Learn how to structure a Trade Credit Insurance policy to meet the unique needs of each insured

Sales ideas for top producers

We can provide you with strategies and tools designed to help enhance your selling and negotiating skills. Areas of focus include:

  • Analyzing client needs: examining strategies that align better with sophisticated, complex buying cycles
  • Building relationships through successful negotiating: how to leverage strengths and minimize weaknesses in a negotiation in order to achieve optimal outcomes
  • Closing the deal: when and how to identify buying signals and ask for the business
  • Conducting stakeholder analysis: how to identify and motivate key decision makers and “centers of influence”
  • Finding cross-selling opportunities: how to identify and pursue new opportunities to expand the customer relationship
  • Planning and preparation for the sales call. Too many producers take short cuts or “wing it” in a sales call, but buyers are more sophisticated. Advance preparation can be a difference maker.

This is intended as a general description of certain types of services, tools and courses available to brokers through the companies of Zurich North America. Zurich does not guarantee a particular outcome and further assumes no liability in connection with the provision of services. Zurich reserves the right to make changes in course offerings at any time.

© 2017 Zurich American Insurance Company