(GI) Afternoon Seminar - Ogden Tables and IDD – each subject 1 hour sessions.

Marriott Hotel
Wednesday, 06 February 2019
3:00 pm – 5:30 pm
    • Alan Chandler, Alan Chandler Training

This event is kindly sponsored by Ecclesiastical

This afternoon seminar is broken down into two 1 hour sessions, including a refreshment break. There will be the opportunity to network following this event. Parking included.

Session 1.

The Ogden Table (Discount rate) change presentation - why the change was so controversial and what happens next

The change in the Ogden Table rate (often called the discount rate) has cost the UK Insurance Industry and indeed the NHS billions of pounds. These billions are having to be recouped by way of massive hikes in insurance premiums. Increases of 10-20% have become the norm in some sectors and high risk personal injury policies such as construction, haulage fleets and motor trade are seeing increases of well beyond this range.

It is essential that brokers and underwriters can fully explain these increases to their clients and this presentation will equip you to do just that. Zurich posted losses due to the Ogden table change, ERS have pulled our of Haulage fleet, LV have sold a chunk of their business to Allianz and many other changes are happening in our market place due to this change.

This presentation will be run by Alan Chandler, Chartered Insurer, who is one of the leading insurance trainers in the UK. He will explain the difference between special and general damages in liability claims and focus on how the change in the discount rate is completely transforming the UK General Insurance market. He will also explain which elements of liability claims get changed by the Ogden tables (known as the discount rate) and which classes of business have not been affected. There will be worked practical examples to help you explain these changes to clients. Alan will also explore what is likely to happen next.

This is a must for all brokers, underwriters and claims staff as the Ogden table rate change is continuing to have a significant bearing on the market.

Learning Objectives

  • understand the difference between special and general damages in liability claims
  • understand how the Ogden table rates affect liability claims
  • understand how the change in discount rate has affected premiums in the market place and what is likely to happen going forward
  • understand the capital implications for insurers following the Ogden table change.​​​​​​

Session 2.

Insurance Distribution Directive....It's Coming Home

The IDD will have great impact on all insurance staff and includes the need to have compulsory training of 15 hours a year for all general insurance staff . This has nothing to do with CII CPD it will become a legal requirement for all staff involved in insurance distribution from October to undertake the required training.

This will be the first time ever that a minimum stipulated number of training hours will become a legal requirement in the UK general insurance market! The IDD will also introduce more detailed rules on disclosing the source of a brokers income and very strict and precise rules on what a policy summary must look like for consumer customers- there will be no deviating from the way you do this summary. Rules relating to how you can create insurance products will also be changing and those involved in new product creation will have to demonstrate their expertise.

This event will be suitable for anyone on the general insurance side involved in insurance distribution, so brokers, underwriters, claims staff, loss adjusters - they all need to be understanding these key changes. This also includes any IFA's involved in 'protection products'

The learning objectives for the Insurance Distribution Directive are as follows:

  • Understand the background and why IDD is being implemented and when?

  • Who it applies to?

  • Describe what the changes are

  • Explain what the impact is on general insurance firms, the impact on customers

  • Describe what firms should be doing in preparation for the changes

Your presenter:

Alan has undertaken operational management roles for three major global companies. NatWest Insurance Services, RBS Insurance Group and Allianz Insurance and has run underwriting, broking and claims functions.

12 years ago he set up his own training company something that he had always longed to do due to his passion for training and professionalism.

Alan has trained over many 75% of the Bristol Institute examination award winners for Diploma and Advanced Diploma subjects.

He has also trained six of the individuals who have achieved the best ACII completion in the whole of the United Kingdom.

Many of the people he has trained have won national prizes from subjects as diverse as Law (MO5), Liability (M96), Commercial Property and BI (M93), Personal Lines Insurance (M86), Business and Finance (M92), Underwriting Practice (M80), Advanced Underwriting (960), Claims Practice (P85),Advanced Claims (820), Marketing (945) and Advanced Broking (930).

Alan helps run the Allianz scholarship programme in both the UK and Ireland. He also runs throughout the UK and Ireland the Allianz technical academy programme for their brokers and the Allianz Cii training programme for their staff. He is one of the few individuals that can take someone from Certificate and train them all the way through to ACII with pass rates regularly exceeding 96%.

As well as training in Allianz Alan has undertaken training for most of the major brokers and Insurers at some point including Marsh, Aon, Gallagher, Zurich, RSA, Aviva and and many others, this is in addition to undertaking work for the Chartered Insurance Institute.

  • Alan Chandler
Venue
  • Marriott Hotel
  • Smith Way, Grove Park
  • Enderby, Leicester
  • LE19 1SW
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CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

2 hours' 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.