A plain-English overview of understanding an insurance policy wording

Understanding an Insurance Policy Wording

Demystifying insurance policy wording in plain English

Insurance policy wordings are the foundation of every insurance contract, yet they are often misunderstood or overlooked. Recent litigation, including Business Interruption and COVID-19 disputes, has highlighted the importance of understanding exactly how policies are constructed and interpreted.

In this engaging and practical webinar, Alan Chandler provides a plain English walkthrough of the key components that make up an insurance policy wording. Delegates will gain a clearer understanding of how courts interpret policy language, the legal significance of exclusions, conditions and warranties, and how policy wording can be used to manage exposure and avoid unintended outcomes.

Ideal for brokers, underwriters, claims handlers and anyone involved in insurance placement or administration, this session will provide valuable insight into the structure and operation of insurance contracts and help attendees read policy wordings with greater confidence.

What Will Be Covered?

• The structure of an insurance policy wording and the purpose of each section.
• How contract law influences the interpretation of policy wordings.
• The legal treatment of exclusions, conditions and warranties.
• The impact of the Consumer Rights Act and Unfair Contract Terms Act on policy interpretation.
• The difference between joint and composite insureds and why this distinction matters.
• Common pitfalls in policy construction and interpretation.
• Practical ways policy wording can be used to control and manage exposure.
• Lessons learned from recent coverage disputes and court decisions.

Learning Objectives

By the end of this webinar, delegates will be able to:

• Understand how insurance policy wordings are structured and interpreted.
• Explain how contract law principles apply to insurance contracts.
• Identify the role and legal significance of exclusions, conditions and warranties.
• Recognise how the Consumer Rights Act and Unfair Contract Terms Act may affect policy provisions.
• Distinguish between joint and composite insureds and understand the underwriting implications of each.
• Use policy wording more effectively to identify, manage and control exposure.
• Read and analyse insurance policy wordings with greater confidence and accuracy.

Joining instructions will be sent after registration.