Developing and Implementing
a
Globally
Coordinated Master Insurance Program®
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International Insurance – Advanced II©
4 Credit Hours |
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Overview: |
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This is an
advanced course that expands on the knowledge gleaned in earlier course and
outlines how to develop, implement, execute and monitor a Globally
Coordinated Master Insurance Program®
[GCMIP]. The introduction provides a quick review of the Difference In
Conditions and Difference in Limits Coverage outlined in a prior course. It
is for the individual who has background in international or has taken the
Globally Coordinated Master Insurance Program®
Course.
The GCMIP is a concept where the client, insurance broker, and insurer
are able to build a worldwide insurance program that integrates several
lines of business and policies throughout various countries where the client
has exposure.
This course is designed to provide a in-depth understanding of the GCMIP
so the student, whether, Insured, Insurer or Broker/Agent, will understand
how to establish goals for the program, how to plan the program, and how to
implement the program. The student will also understand what conflicts are
presented when developing the program and how to mitigate and/or resolve
those conflicts. |
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Target Audience: |
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Insurance Agents,
Insurance Brokers, Chief Financial Officers, Risk Managers, Insurance
Associations, Business Associations, Underwriters, Claims Personnel, Loss
Control Personnel, and Students studying Insurance |
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Scope of Course: |
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Provides a short review of terms and
introduces new terms. |
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Explains why a GCMIP is helpful to the
client. |
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Shows how to develop the information
needed to put together a GCMIP. |
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Outlines the need for communication and
coordination among all parties involved. |
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Details how to ‘Plan, Structure, Price &
Implement’ the GCMIP |
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Discusses various coverage options involving the Difference In
Conditions Master Policy, the local polices, customary local (foreign)
coverage perils, indigenous required or compulsory coverages and usual
extensions.
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Metrics: |
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Provides the insurance professional with a
step by step approach to putting together a GCMIP |
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Outlines issues involved from the
perspective of the customer, broker/agent and underwriter. |
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Offers general answers on the resolution of
conflicts which usually develop |
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Uses a hypothetical company with assets in various countries to
illustrate many of the issues encountered in developing a GCMIP. |
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Uses various matrices to illustrate gaps in
coverage |
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Goals of Program: |
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To provide the audience an in-depth
understanding of how to put together a GCMIP for clients with exposures
outside of the U.S. |
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To gain an understanding of
how cultural issues may play a role in understanding the needs of
foreign management. |
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To understand how to Plan, Structure, Price
and Implement a GCMIP to assist the client in managing their worldwide
risk. |
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To walk away with a structured plan and blueprint of what a GCMIP is and
how to design and implement one. |
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