The renewal information gathering process: What makes a good risk presentation?
In this IIL property investors webinar, Peter Foulger talks about the importance to an underwriter of possessing a good risk presentation, the hallmarks of a good risk presentation and how to make a compelling engagement for an underwriter for the risk information available.
The importance of a good risk presentation cannot be understated in that it; satisfies the duty of fair presentation; narrows any lag between submission and contract certain terms; ensures the most competitive contract certain terms and finally ensures that all stakeholders within the placement (both from the insurer, client and broker perspective) are fully engaged.
Good risk presentations tend to have carefully curated Construction, Occupancy, Protection and Exposure (“COPE”). This will include the level of combustibility in certain segments, fire inception hazard of occupancies with flammables, coverage and design of both fire suppression and detection systems and exposures across the portfolio.
Finally, providing positive engagement to the underwriter on the context of the approach, the potential of tripartite meetings (with the client) and soft factors that support risk selection including but not limited to client accreditations, supplier network (e.g. property agents specialising in certain segments), acquisition strategy including the level of due diligence undertaken and holding pattern for assets.
- Importance of a good risk presentation
- The good, bad and the ugly of presenting a risk
- Engagement with underwriters to create a compelling risk submission
- Online event
You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.