Why Choose this Course?
This Master Class will enlighten coverage afforded by such time-related insurance policies and how claims are triggered. Common policy issues relating to delays in projects and reasons for the delays will be addressed. Various types of incident scenarios will be shared, and application of the policy cover will also be considered.
The session will be handled by an experience Facilitator who is very familiar with this subject matter. He has decades of this subject handling experience. He will use adult learning methods incorporating inter-active formats to share his course material. Case studies and in-depth discussion dialogues will be used to enhance the learning process.
What are the Goals?
By the end of this AZTech training course, you will be able to:
- Understand how these project delay insurance policies are arranged and the protection afforded
- Learn the underwriter’s consideration at the time of underwriting the risk
- Appreciate the claims handling aspect of this subject matter
- Highlight type of projects that require such coverage
- Apply some of the concepts relating to project delays and how it affects the contract arrangements
Who is this Training Course for?
The training course is primarily designed to cater for project personnel and construction industry technical staff but not limited to;
- Project Engineers
- Project Managers
- Quantity Surveyors
- Building Surveyors
- Financial / Banking officials and representatives of Government agencies and utility companies
How will this be Training Course be Presented?
This AZTech training workshop will utilize a variety of proven adult-learning techniques to ensure maximum understanding, comprehension and retention of the information presented during the five days.
The facilitator employs active - learning techniques, group discussion and quiz(s) to enhance the training session. The delegates will also be provided a few challenging case studies with actual project delay scenarios – and the facilitator will guide them through achieving appropriate and effective solutions. A proper understanding of the coverage provided under the Advanced Loss of Profit (A.L.O.P) wording is essential to appreciate this subject.
Meanwhile delegates are also urged to raise their own experiences in dealing with projects and site work delays to the class for further review and group discussion. The sharing and class discussion will make this an interesting learning procedure.
The Course Content
Day One: An Overview & Construction Project Delays
- Managing Projects and Stakeholders
- The Need for Insurance in Construction Projects
- The use of A.L.O.P cover to mitigate losses
- Projects Contract Administration
- Conditions of Contracts (FIDIC and other contracts)
- Current projects in MENA and Asia – in relation to delays
Day Two: Application of the Construction Policy and its Typical Coverage
- How the CAR policy is arranged?
- Relevant Coverage
- Discussion on Period of Cover and hand over issues
- General Exclusions – Is War related losses covered?
- Policy Conditions – Taking reasonable precautions
- What if there are two policies arranged for the same site?
Day Three: Understanding the Policy itself
- Policy Operative Clause
- Sum Insured
- Limit of Liability
- Typical examples for each Section
- How about Section II losses and delays?
- Consequential loss – covered?
Day Four: Advanced Loss of Profits ( A.L.O.P) and its details
- Who buys A.L.O.P cover?
- Coverage and exposures
- Exceptions and Conditions
- Connection to Section I
- Role of Loss Adjusters in Claims Handling
- Insured loss and the A.L.O.P claim
Day Five: Handling Project Risks, Delays & Claims Management
- What are Underwriters Concerns?
- Risk Management and How it Works
- Claims Management and Project Monitoring
- How to over come project delays?
- The use of Performance Bonds
- Case Studies relating to delays and A.L.O.P cover
- AZTech Certificate of Completion for delegates who attend and complete the training course
- The applicable PMI Professional Development Units/Contact Hours will be reflected on the Certificate of Completion
AZTech as an R.E.P. has been approved by PMI to issue applicable Professional Development Units (PDUs) for its Project Management training courses. PMI allows credential holders to apply PDUs to the maintenance of their credentials where one contact hour of training is equivalent to one PDU.
The PMI Registered Education Provider logo and PMI are registered marks of the Project Management Institute, Inc.