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Home Insurance
- Can I own a home without domestic package insurance?
- Can I purchase domestic package insurance if I'm renting a house?
- How are claims paid under various Sections?
- How do I file a claim under domestic package insurance?
- How often should I review my policy?
- What information do I need to provide to my agent,broker or insurer when proposing or renewing cover?
- What is a standard domestic package insurance cover?
- What is domestic package insurance?
- What kind of domestic package cover is adequate?
- What should I do if I am leaving the house unoccupied for sometime?
- What type of insurance do I need for a house purchased through a mortgage?
- Which are the common types of misfortunes covered in a domestic package insurance?
- Why is it important to take a home inventory?
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Motor Insurance
- How do I file a motor insurance claim?
- How is the premium of motor insurance determined?
- Is motor insurance compulsory in Kenya?
- What are my rights when filing a claim?
- What are the different types of motor claims?
- What are the different types of motor insurance certificates in Kenya?
- What are the different types of motor insurance policies?
- What are the duties of insured person in the event of an accident?
- What are the duties of the insurance company in the event of a claim?
- What are the main documents required in settling a claim?
- What information is required when proposing for<br>insurance?
- What is motor Insurance?
- What should I do if I am involved in an accident?
- What should I do if I have a problem with claim<br>settlement?
- What steps are taken by an insurance company before a motor insurance claim is settled?
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Medical Insurance
- Am I insured while out of the country?
- Do I need to continue paying my monthly contribution to NHIF if I have medical insurance policy?
- Does medical insurance cover all hospital bills?
- Does my policy cover conditions existing before I took up the insurance?
- Does the policy cover all my children?
- Does the policy cover the insured in old age?
- How are medical bills paid?
- How do I apply for medical insurance?
- How do I benefit from NHIF membership?
- How will the hospital know that I am the insured?
- What happens in case of an emergency?
- What is medical insurance?
- Who does an in-patient policy cover?
- Who does an out-patient policy cover?
- Will the policy compensate me for all kinds of treatment that I receive?
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Agriculture Insurance
- Agriculture insurance underwriting and claims
- Challenges of crop insurance
- Index Based Livestock Insurance
- Index based weather insurance
- Introduction to agriculture insurance
- Livestock Insurance
- Other types of agriculture insurance
- Perils that affect the agriculture sector
- Poultry Insurance
- The International Agricultural Insurance Market
- Types of Crop Insurance
- What is Agriculture insurance?
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Aviation Insurance
- Aircraft Hull and Liability Cover
- Aviation Hull War and Allied Perils Cover
- Aviation Insurance Underwriting and Rating
- Introduction to Aviation insurance
- Laws Relating to International Trade or Carriage of Passengers by Air
- Loss Adjusting and Surveying Aviation Insurance
- The Aviation Insurance Market
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Business Interruption Insurance
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Common Factors in Property Insurance
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Emerging Issues and trends in general insurance
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Engineering Insurance
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Fire and Perils Insurance
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Liability Insurance
- Classes of liability insurance
- Directors’ and Officer’s Liability Insurance
- Employers Liability Insurance
- Introduction to liability insurance
- Legal Expense Liability Insurance
- Products LIability Insurance
- Professional Indemnity Insurance
- Public Liability Insurance
- Trustees’ Liability Insurance
- Work Injury Benefit Act (WIBA)
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Marine Insurance
- Arranging for marine insurance
- Effecting Marine Insurance market
- International Contracts of Sale(INCOTERMS)
- Introduction to Marine Insurance
- Marine Insurance and Trade
- Marine Insurance Claims
- Marine Insurance Policies
- Marine Insurance Underwriting and Rating
- Marine Perils
- Principles of Marine Insurance
- The marine Insurance Markets
Aviation Insurance Underwriting and Rating
There is no precise scientific basis of rating in aviation insurance because of the small number of units involved. It is normal for underwriters to base their rates from statistics derived from past experience and from their own assessment of the risk. A proposal or a brokers’ slip may be used to gather the information required for underwriting purposes. The key items of information which the underwriter will require are known discussed.
Types of Risk
These would for example be hull and liability insurance.
- Particulars of the insured
- The insured will be required to give his name, address and other contacts
- Period of insurance
- A twelve-month period represents no problem but most underwriters are averse to short period request such as a single ferry flights unless the pilot has route experience
- Interest to be noted
The insured will be asked to to indicate any interest of the financier of the aircraft, the extent of such interest and any requirement the financier may have in respect to insurance.
- Sum Insured
This will indicate the aircraft value and the limits of legal liabilities per any one accident, limit per passenger and for the period of insurance.
- Situation/ Territorial Limits
This will indicate where the freight will be operating and this factor will be assessed in the right of the experience of the pilot
- Information
This will give the claim experience of the proposer and try to find out whether there are indications of moral hazards.
Other Factors Affecting the Risks Include
- The type of aircraft and its experience as reflected by the underwriter’s experience and opinion
- The use to which the aircraft will be put, e.g. private private pleasure, commercial or rental i.e. lease or hire and the like
- Pilot details such as age, accident record, their experience in terms of flying hours and in respect of given type or make of aircraft
- Geographical limits in relationship to temperatures, terrain, landing facilities or communications
- Previous claim record and insurance of the applicant
- Airfield used by the operator
- Value of the aircraft
Underwriting Considerations for Airport Owners and Operators
The underwriter will take into account the following;
- Name of the proposer and address
- The period of time that the operator has been in business
- Whether the proposer is the owner or operator of the airport
- Whether the proposer is responsible for maintaining the airport
- Estimated annual receipt from all activities for which cover is to be provided
- Rate at which the airlines visit or use the airfield.
- Whether the proposer give directional information to aircrafts in the air
- Information on whether the proposer provides public catering
- Size of car park, if any
- Whether air field comply with all national and international regulations
- Limit of indemnity required
- Past claim experience
This list is no means exhaustive but it gives an indication of what the insurer looks for while considering this type of risk. Similarly, the insurer considers other risks underwritten in this classes of business such as,
- Product liability insurance
- Grounding liability underwriting
- Air display underwriting
- Freight underwriting
- Loss of use
Rating
The majority of aircrafts are rated for hull damage at a rate or percent of the insured value rate varying depending on the factors discussed above. The hulls and liabilities are covered in one policy. For fleet of aircrafts, premium is calculated on the total fleet value and the amount of flying expected to be done by those aircrafts during the period of insurance. Other methods used for calculating premium for short time cover, such as fix amount per hour flown
In passenger legal liability, premium is assessed as amount per passenger seat for for large or medium sized airlines, the premium is often calculated on the basis of the total volume of revenue passenger miles or kilometers flown by the insured. This is important because the insurer receives a premium related to the actual exposure. In Aviation, personal accident insurance, premium is based on a scale of benefits selected by the insured. Third party liability premium is assessed on flat premium per thousand revenue passenger miles or kilometers