Construction 101 - Insurance & Surety: Explained (EST)

Webinar

ON [Map]
Date and Time: January 27, 2021 10:00 a.m. (EST) - January 28, 2021 11:00 a.m. (EST)

Two, 1-hour Webinars - Construction 101: Everything you need to know about Construction Risks – Insurance & Surety

When analyzing Construction Risks, there are certain basics that insurance professionals must be able to wrap their heads around. Construction insurance is designed to insure buildings or projects against replacement or repair — both while they are under construction and, in some cases, for a specified time afterwards. In addition, insuring the exposures of third parties (bodily injury and property damage) is a key element in properly covering off the insurance side of construction risks. The other component that is heavily involved in many construction projects is the Surety portion, which differs from insurance itself as it protects the financial interests of the consumer (owner of the project). In one place you can gain knowledge from experts in construction both on the insurance and surety side.

Who Should Attend:
This seminar is intended for underwriters, agents, brokers and adjusters who are not yet familiar with Construction Risks and Surety Bonding or want to brush up on their construction knowledge.

Brokers: Learn the basics about various coverages including, project, liability, delay-of-start-up, operational insurance and surety.

Underwriters: Get a glimpse into the world of construction insurance and surety underwriting. From who is building it, to technology considerations, come learn about the unique risks in construction insurance.

Adjusters: Learn about some of the many nuances of various insurance products. You’ll benefit from tapping into our seasoned expert who can explain where one policy ends and another would kick-in and what each type of insurance policy and bond is intended to cover.

Objective:
This seminar purpose is to provide an overview of construction risks and how surety and insurance differ, summarize the development and functions of insurance and surety, illustrate the importance of insurance and surety to the construction industry, and introduce the underwriting process

By the end of this seminar attendees will:

Part I: Construction Insurance (Wednesday January 27, 2020 at 10:00am):
• Explain the types of insurance needed for construction projects, including Builder’s Risks and Wrap-up Liability
• Describe some underwriting considerations and project documentation
• Explain the types of insurance needed for construction operations
• Dissect construction losses and how claims are settled
• Outline the information required to underwrite construction risks


Part 2: Surety (Thursday January 28, 2020 at 10:00am)
• Define and explain "surety"
• Recognize the differences between surety and insurance
• Identify the parties to a surety bond and their roles
• Name and describe three different categories of surety bond
• Explain the importance of surety to the construction industry
• Identify examples of four bond agreements used in the construction industry
• Outline the information required to underwrite surety accounts

Speakers:

Part I: Construction Insurance (Wednesday January 27, 2020 at 10:00am):
Marcus A. Raitanen, FCIP, CRM, Underwriting Specialist, Vice-President, Victor Canada Construction

Part 2: Surety (Thursday January 28, 2020 at 10:00am):
Ryan McKay, Manager Surety, and John Genilla, Financial Analyst, Surety, Trisura Guarantee Insurance Company

RIBO CE Hours: 2 technical hours


Space is limited. Register today!

PLEASE NOTE:
- Prices below are for IIO Members. Fees noted below do not include hst.
- Non-members and renewing members the IIO Membership fee will be added to your cart.
- Sorry, no refunds. Credit notes issued only with 48 hour written notice
- In accordance with Provincial regulator's guidelines, in order to be eligible for CE hours, you must be logged in with for the entire duration of the session. Partial hours cannot be issued.


LINK TO WEBINAR
24 hours prior to the webinar, all registrants will receive an e-mail providing the direct Zoom link and passcode. This link is unique to you and is tied to your name. It cannot be shared or transferred to others. This personalized link must be used when you log in to the webinar so that your attendance can be tracked. We cannot credit CE hours if you are using a link that is not assigned to you, or if you do not attend for the full duration of the webinar.  
 

For group rates of 3 or more or if you have any questions or for assistance with registration, please contact us:mlewandowski@insuranceinstitute.ca

 

Pricing

Pricing for this seminar varies based on your membership. Prices exclude tax

Fee Description Amount
IIO Member Standard fee $76.00
CIP/FCIP Graduate $65.00