A Joint Workshop organised by MII & AICLA A TECHNICAL ...

1 A TECHNICAL Workshop ON HOW TO MANAGE MACHINERY BREAKDOWN AND BUSINESS INTERRUPTION CLAIMS14 & 15 AUGUST AM TO PMSUNWAY PUTRA HOTEL, KUALA LUMPURBASIC TO INTERMEDIATEA Joint Workshop organised by MII & 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 will be able to network with Workshop facilitators and fellow participants. WHO SHOULD ATTENDS enior Claims Officers and Managers from insurance/reinsurance companies and broking firms and Loss Adjusters.

2 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 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.

3 How and why claims are assessed and adjusted TECHNICAL Workshop ON HOW TO MANAGE MACHINERY BREAKDOWN ANDBUSINESS INTERRUPTION CLAIMS DAY 1 DAY 1 PROGRAMME OUTLINE Overview of the various types of Plant, Equipment and Machinery in industries and commonly used TECHNICAL and engineering terms The Loss Adjuster s role in handling Machinery Breakdown 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)

4 Case Studies and discussionKEY COURSE CONTENTSDAY 1A TECHNICAL Workshop ON HOW TO MANAGE MACHINERY BREAKDOWN ANDBUSINESS INTERRUPTION CLAIMS DAY 2 KEY COURSE CONTENTSDAY 2A TECHNICAL Workshop ON HOW TO MANAGE MACHINERY BREAKDOWN ANDBUSINESS INTERRUPTION CLAIMS DAY 2 PROGRAMME OUTLINE What is Business Interruption and what BI Insurance is designed to cover What is Gross Profit , Rate of Gross Profit and Standard Turnover and its calculation Difference between Gross Profit Cover VS Gross Revenue Cover Examples with mini case studies What is Adjustment Clause Trend the importance of understanding the clause and the necessary adjustments when calculating both Reduction in Turnover and Rate of Gross Profit.

5 Common mistakes with examples What is Increased Cost of Working ? What is Economic Limit test? The difference between ICOW and AICOW. Examples and common mistakes What is Savings ? Why do we calculate savings? What are the common mistakes when calculating Savings? What is Under-Insurance ? The reasons for including under- Insurance in Business Interruption cover with examples A Final Case study of an actual claim will be presented to summarise the overall concepts of BI claims. Groups working together will present their answers to a set of questions before solutions are providedCOURSE FACILITATORWORKSHOP LEADERSJaye 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.

6 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 has been responsible for expanding AICLA s membership base across the region and internationally.

7 AICLA has international membership chapters in Malaysia, Singapore, Hong Kong, Indonesia, Thailand and Vietnam and other countries and is further expanding this to the Middle East, Africa and 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 areas such as Business Interruption, Loss of Gross Profit, Contingent Business Interruption, Extra Expenses and Stock Losses.

8 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 Pooba 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.

9 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, Vietnam and Hong Kong.

10 JAYE KUMARDAN DE SILVAIR. POOBAA TECHNICAL Workshop ON HOW TO MANAGE MACHINERY BREAKDOWN ANDBUSINESS 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.