A Joint Workshop organised by MII & AICLA A TECHNICAL ...insurance.com.my/documents/pdf/Machinery_Breakdown(small).pdf · handling and managing Machinery Breakdown and Business Interruption

A TECHNICAL WORKSHOP ON HOW TO MANAGE MACHINERY BREAKDOWN AND BUSINESS INTERRUPTION CLAIMS

14 & 15 AUGUST 20179.00 AM TO 5.00 PM

SUNWAY PUTRA HOTEL, KUALA LUMPUR

BASIC TO INTERMEDIATE

A Joint Workshop organised by MII & AICLA

AICLAwww.aicla.org

PROGRAMME HIGHLIGHTThis interactive two-day workshop aims to raise the knowledge and competency of insurance industry practitioners, including insurers, reinsurers, brokers and loss adjusters on the technical issues that apply to handling and managing Machinery Breakdown and Business Interruption claims.

Candidates will be able to network with workshop facilitators and fellow participants.

WHO SHOULD ATTENDSenior Claims Officers and Managers from insurance/reinsurance companies and broking firms and Loss Adjusters. Also suitable for Underwriters Business Development and Marketing Executives from insurance/reinsurance companies; Client and Account Executives and Managers of insurance/reinsurance broking firms; and Risk Managers.

KEY LEARNING OUTCOMESAt the end of the programme, participants would be able to:

• Understand the technical aspects of Machinery Breakdown and Business Interruption claims.

• Understand the practical challenges of handling such claims and the practical issues and operational concerns that insurers need to focus on in handling claims.

• Provide a practical understanding of the scope of cover provided. • How and why claims are assessed and adjusted accordingly.

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DAY 1DAY 1 PROGRAMME OUTLINE• Overview of the various types of Plant, Equipment and

Machinery in industries and commonly used technical and

engineering terms

• TheLossAdjuster’sroleinhandlingMachineryBreakdown

Claims

• Examination of common Machinery Breakdown Policies and

Coverage, Key Policy Issues, Conditions and Exclusions

• Discussion of typical Machinery Breakdown Claims

• Worked examples and Adjustment of Claims

• Overview of Machinery Breakdown, BI Policies and Mitigation

Costs

• Review of common industry losses and how these involve

Material Damage and BI Claims

• Worked examples, including production-based losses and

time deductibles (issues and calculations)

• Case Studies and discussion

KEY COURSE CONTENTSDAY 1

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DAY 2KEY COURSE CONTENTSDAY 2

A TECHNICAL WORKSHOP ON HOW

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BUSINESS INTERRUPTION CLAIMS

DAY 2 PROGRAMME OUTLINE• What is“Business Interruption”andwhatBI Insurance is

designed to cover• Whatis“GrossProfit”,“RateofGrossProfit”and“Standard

Turnover”anditscalculation• DifferencebetweenGrossProfitCoverVSGrossRevenue

Cover–Exampleswithminicasestudies• Whatis“AdjustmentClause”–Trend–theimportanceof

understanding the clause and the necessary adjustments when calculating both Reduction in Turnover and Rate of GrossProfit.Commonmistakeswithexamples

• Whatis“IncreasedCostofWorking”?WhatisEconomicLimittest?ThedifferencebetweenICOWandAICOW.Examplesand common mistakes

• Whatis“Savings”?Whydowecalculatesavings?WhatarethecommonmistakeswhencalculatingSavings?

• Whatis“Under-Insurance”?Thereasonsforincludingunder-Insurance in Business Interruption cover with examples

• A Final Case study of an actual claim will be presented to summarisetheoverallconceptsofBIclaims.Groupsworkingtogether will present their answers to a set of questions before solutions are provided

COURSE FACILITATOR

WORKSHOP LEADERS

Jaye Kumar was born in Malaysia, completed his high school and tertiary education in England and has worked extensively in South East Asia, UK and for the last 30 years, in Australia. Jaye is a Chartered Loss Adjuster (Fellow), Chartered Mechanical Engineer

and has a Masters in Business Administration. He has been a practicing loss adjuster for 35 years and specialises in engineering claims.

In 2000, Jaye formed a national loss adjusting company with over 40 independent adjusting companies across Australia as service partners and heads this Company as the Managing Director. Jaye has been actively involved with the Australasian Institute of Chartered Loss Adjusters (AICLA) and has served on the AICLA Board since 1999. As the International Development Director of AICLA since 2003, he hasbeenresponsibleforexpandingAICLA’smembershipbaseacrosstheregionand internationally. AICLA has international membership chapters in Malaysia, Singapore,HongKong,Indonesia,ThailandandVietnamandothercountriesandis further expanding this to the Middle East, Africa and Europe.

Dan De Silva has prior to joining Matson Driscoll & Damico in 2014, advised insurers and the business community on aspects of Business Interruption Insurance and preparation of Business Interruption claims,

as well as undertaking policy reviews for Sum Insured/Policy Limit purposes. He has a wide range of practice areassuchasBusinessInterruption,LossofGrossProfit,Contingent Business Interruption, Extra Expenses and Stock Losses.

Dan graduated from the Swinburne University of Technology in Melbourne, Australia, with a Bachelor of Business majoring in Accounting and Finance in 2008 and started his Forensic Accounting Career with a leading Claims preparation company as an in-house Forensic Accountant in the following year. During his period in Brisbane, he assisted the catastrophe events Brisbane floods, Cyclone Yasi, Christchurch Earthquakes and Cyclone Oswald.

I r . P o o b a Mahalingam is a professional engineer with over 25 years of experience in construction, insurance and loss adjusting. He has dealt with

construction, engineering, liability and property claims for various insurance companies and reinsurers. He was with a global claims management company in Singapore and a member of their major claims team that serves Asia. He was also based in Christchurch, New Zealand as a member of the CAT loss team handling the 2011 earthquake claims.

Pooba has previous experience working with an international loss adjusting firm in Kuala Lumpur where he was responsible for mega projects risk management and claims handling. This included the following large construction risks -KLIA, KLCC, KL Tower, LRT I & II, Sprint Highway and Smart Tunnel. He also gained further regional engineering exposure when he handled assignments in Brunei, Indonesia,Myanmar,VietnamandHongKong.

JAYE KUMAR

DAN DE SILVA IR. POOBA

A TECHNICAL WORKSHOP ON HOW

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ACHINERY BREAKDOWN AND

BUSINESS INTERRUPTION CLAIMS

THE MALAYSIAN INSURANCE INSTITUTE (MII)

THE AUSTRALASIAN INSTITUTE OF CHARTERED LOSS ADJUSTERS (AICLA)

Founded in 1968 as a non-profit organisation, The Malaysian Insurance Institute (MII) is the leading professional body and education institution for the Malaysian insurance industry. MII provides internationally recognised qualifications in insurance, risk management and financial planning. It is highly respected as a regional centre that offers an extensive range of quality education programmes and training courses for professionals in the insurance and financial services industry. MII commitment to providing relevant, high quality professional qualifications and training offerings is underpinned by its role in partnering the industry and its members in the pursuit of professional excellence and business success.

The Australasian Institute of Chartered Loss Adjusters (AICLA), established in 1997, is the leading international loss adjusting professional and educational body for loss adjusters with an extensive and growing membership base. The primary object of the Institute is to advance the Profession (of Loss Adjusting) for the benefit of its practitioners and the public in general through the continual education of its Members and the encouragement of skilled, ethical and sound practice in the Profession.

A TECH

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Name (as per IC) IC No. (New)/Passport No Designation Email Handphone Number

Contact Person :

Tel No : HP No : Fax No :

Company Name :

Company Stamp & Address :

PARTICIPANT DETAILS

COURSE FEE

For further information kindly contact: The Malaysian Insurance Institute (35445-H)No 5, Jalan Sri Semantan Satu, 50490 Damansara Heights, Kuala Lumpur

Santhi Mogan 03-2087 8882 ext 312 / [email protected] | Azean 332 / [email protected] | Ashraff 321 / [email protected] Website : www.insurance.com.my

Cash Payment Enclosed is a Bankdraft / Money Order no. for RM___________ made payable to The Malaysian Insurance Institute. Direct Bank In to MII account : 2-64160-00004670

RHB Bank Bhd, Lot No G-01, Ground Floor, Bangsar Shopping Centre Office Tower Jalan Maarof, Bangsar, 59100 Kuala Lumpur, Malaysia. Telegraphic Transfer in USD to MII account : 6-14165-00000321

RHB Bank Bhd, Lot No G-01, Ground Floor, Bangsar Shopping Centre Office Tower Jalan Maarof, Bangsar, 59100 Kuala Lumpur, Malaysia.

Please charge RM / USD________________to my credit card. VISA MASTER

Card number : CVV Number :

Expiry date : ________________ Cardholder’s signature : __________________Note : 1. The price quoted inclusive of 6% GST.2. Payment to be made payable to “The Malaysian Insurance Institute”.3. Participants will not be registered for the programme until payment is received.4. We wish to inform that MII does not accept personal cheques.

PAYMENT OPTIONS (Please tick (√) method of payment)

REGISTRATION POLICY

Important Notice

In regards to Personal Data Protection Act 2010 (“the Act”), pleased note that your personal data is used, stored, disclosed and processed by MII solely for the Purpose of registering training courses and/or in connection to other MII products or services. Your personal information may also be disclosed or transferred to relevant third party i.e to the industry related associations, industry related companies, government agencies and any of their respective agents. Any inquiries or complaints with respect to your personal information may also be channeled to MII by submitting such request to MII via post, email ([email protected]) or facsimile (03-2093 9287).

Applicant’s declarationI am deemed to have consented to MII to use, store, disclose and process my personal data for the Purpose mentioned above and agree to comply with and be subject to the jurisdiction of all rules and regulation of MII concerning the training courses. Applicant’s Signature :_________________ Date : ____________________

• CompletetheregistrationformprovidedandmailtogetherwithyourpaymenttotheMII.PaymentmustreachMII14DAYSBEFOREthecommencementdate.• Deadlinetosubmitregistrationformis14DAYSBEFOREtheprogramme.• Reservationforthecoursecanbemadebyphoneorfaxbutwillbeconfirmeduponreceiptoftheregistrationformandfullpayment.• AFULLFEEischargeableifnowrittennoticeofcancellationisreceived14DAYSBEFOREthecoursecommencesoriftheparticipantfailstoreportforthecourse.• CancellationafterthedeadlineWILLNOTBEENTERTAINED.However,substituteparticipant(s)is/arealwayswelcome.• Theorganiserreservestherighttorescheduleorcancelthecourseduetounforeseencircumstancesandwillnotifythecontactpersonaccordingly.• Confirmationofthecoursewillbenotifiedtothecontactperson/registeredparticipant(s).

DECLARATION

Malaysia-based Participants(covers welcome drinks, programme materials, tea breaks and lunches)

Please tick(√)

MII member / AICLA member RM 3,000

Non-MII member / Non-AICLA member RM 3,200

Overseas Participants

WithHotelAccommodation(Sunway Putra Hotel Kuala Lumpur)

AICLA member

Non-AICLA member Remarks Please tick

(√)

USD 900 USD 1,000 Inclusive two nights’ hotel accommodation,welcome drinks, programme materials, tea breaks and lunches.

WithoutHotelAccommodation USD 750 USD 850 Inclusive welcome drinks, programme materials, tea breaksand lunches.

A TECHNICAL WORKSHOP ON HOW TO MANAGE MACHINERY BREAKDOWN AND BUSINESS INTERRUPTION CLAIMS

A Joint Workshop organised by MII & AICLA

AICLAwww.aicla.org