CPD / CIP Points = 2.5
Estimated Duration = 2.5 Hours (including a short break)
Corporate Structures & Insurance Implications
Key learning outcomes:
The Corporate Structures & Insurance Implications module begins by examining what constitutes a legal entity and the different business structures commonly encountered by insurance professionals. Participants will explore proprietary and public companies, companies limited by guarantee, incorporated and unincorporated associations, sole traders, partnerships and trusts, including the role of individual and corporate trustees.
The module then examines corporate groups and the relationships between parent companies, subsidiaries and other related entities. Practical examples and illustrations demonstrate how these structures operate and their implications for insurance, including identifying the correct Insured entities, understanding ownership and control, and recognising the importance of policy definitions. Other considerations include contractors, additional insureds, contractual requirements and overseas entities.
Insolvency is also explored, including administration, liquidation and receivership, together with their potential insurance implications. Participants will consider how changes in business structures, financial circumstances and the legal status of entities can affect insurance arrangements and coverage.
Interactive exercises and progress checks are incorporated throughout the workshop. A short test is available following the workshop.
On completion, participants will be better equipped to recognise and understand different corporate structures, identify the appropriate entities and parties requiring insurance protection, and recognise potential coverage issues arising from business structures, contractual arrangements and changes in corporate circumstances.
