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2.5 CATASTROPHE CLAIMS MANAGEMENT
A participative course providing an opportunity for delegates, in a seminar format, to discuss and increase their understanding of best practice in responding to major property catastrophe claims. The course will draw on experience and lessons to be learned worldwide both from recent catastrophes such as Hurricanes Katrina and Wilma, and the recent tsunami and earthquake events and from historic pioneering approaches in major past market catastrophes, including Cyclone Tracy and Australian bush fires and West Indies hurricanes in the 1970s, Japanese earthquakes in the 1980s, Californian brush fires and UK Windstorms in the 1990s, 9/11 2001, UK Carlisle floods and many others .
· Overview of historic catastrophe claims. Definition.
· Increasing frequency of catastrophes
· Typical characteristics of natural catastrophes, and difficulties caused.
· Immediate responses. Logistics.
· Advance planning; using disaster planning, "realistic disaster scenarios" and catastrophe mapping models.
· Possible lessons from non-industry bodies (relief organizations, government, etc.)
· Various case studies, including delegates' own experience and examples.
· Managing the cash flow. Role of reinsurers.
· Customer expectation vs reinsurance recoverability: dealing with insurance coverage aspects. Role of loss adjusters.
· Maximizing and presenting reinsurance claims: which perils are covered; event definitions, recording claims.
· Use of audits and inspections for catastrophe claims.
· Post-event evaluations.
On completion of the course delegates will have increased their knowledge of the logistical and technical (re)insurance considerations which arise in dealing with major market catastrophes, including the relationship between insurance and reinsurance claims, cash flow implications and handling customer expectations.
The course will be appropriate for all those with responsibility for planning or dealing with claims arising from major catastrophes, both insurers and reinsurers, as well as for claims practitioners seeking to extend their knowledge and skills.
The course will be based on PowerPoint presentation followed by participative discussion and case studies.
Half day ( Four hours).