Airmic launches insurance efficacy research and develops educational offering
The decision to go ahead with the insurance efficacy project was taken by the association’s Insurance Steering Group, led by Airmic chair Chris McGloin.
Airmic’s Technical Director Paul Hopkin has already begun research that is particularly focused on problems that can arise in the period before cover is purchased or renewed.
Airmic has identified this as a critical time where the vast majority of misunderstandings or failures arise.
hide
“Without doubt there is a demand from within the membership for this type of guide, reflecting a significant degree of discontent and disappointment at the way policies have responded to large claims,” said Mr McGloin.
The guide will cover contentious areas such as non-disclosure, warranties and basis clauses, all which have been blamed for the failure of large claims.
The structure of programmes will also come under the spotlight, addressing the issue of unintended gaps in coverage.
Although the main emphasis is on the pre-inception phase, there will be a section on best practice claims handling and the role of loss adjusters.
“This guide will build on the knowledge of the most senior practitioners to provide a comprehensive, practical support document,” said Mr Hopkin. “I hope that risk management professionals new to the role of insurance buying will find it a valuable training tool, whilst those with more experience will find it a useful point of reference.”
Once the guide is complete it will be developed further into an interactive e-publication.
In other news, Airmic’s fastTrack scheme to help develop new risk managers is set to go live in January.
The initiative is being managed by the Airmic’s Learning and Development committee.
It will consist a programme of events to ensure relatively inexperienced practitioners can learn from experts. The programme will include social events, a tailored educational syllabus and an extension of the current mentoring scheme, whilst a dedicated area of the Airmic website has already gone live pre-launch.
The scheme is aimed at both young risk professionals and those that have recently joined the profession from other disciplines.