CILA CONFERENCE 2019
Watching Brief – High Value Watches in the Insurance Marketplace
A timely look behind the dial of the High Net Worth watch collector’s world, and why there is growing demand for a product which bucks the trends of the digital era. Where popular watch makes and models are routinely in short supply, what are the pieces in the spotlight and how does their popularity have an impact on underwriting and claims decisions?
Via the stars of the silver screen, we will briefly consider the history of the watch from functional tool, to becoming an item of investment, and delegates can expect to take part in this examination with the speaker. This session will explore the difficulties which are often associated with providing a satisfactory claim outcome when an item which is increasingly considered a commodity goes missing or is stolen.
Learning Outcomes: Consumer trends, high net worth policies, validation, claim settlement
AI and Detecting Fraud: Does it Really Bring Value or Should you Stick to Using your "Nose for Fraud"
Its now difficult to escape reference to Artificial Intelligence (AI). From the origins of AI research in 1956, to the now commonplace use of AI for wide ranging applications, its part and parcel of our lives.
So, what about the constant and expensive thorn in the side of the insurer: Fraud? It costs insurers money to prevent, detect, investigate and defend fraud and they expect loss adjusters to be their eyes and ears in protecting them from the impact of fraudulent claims. Given the challenges of successfully identifying fraudulent claims, can AI bring value to loss adjusting firms, or should they stick to using their tried and tested "nose for fraud"?
Learning Outcomes: New technology, Fraud detection
What does the future hold for Agriculture?
Agriculture feeds the world but with the global population expected to reach 9.7 billion by 2050, how is the industry evolving to meet demand and what might the impact be on insurance products and claims in the future?
In this session you will learn about the technology that is supporting new farming models such as vertical, super and urban farming and the enterprising ways by which farmers are now diversifying their businesses. We will also discuss the challenges and opportunities for UK agriculture including Brexit, climate change, alternative feed sources and veganism.
Hear from agricultural loss adjusters who are keeping pace with the changing risks associated with this essential industry and the claims of tomorrow.
Learning Outcomes: New technology, Business models, Climate change, Brexit
The Wheel of Misfortune
The effervescent Gerald Williams will host this session, spinning his ‘wheel of misfortune’ with a variety of damage/loss related topics on it, inviting technical and entertaining responses to those that fate selects.
These will include:
Definition of Damage (and loss)
Impairment of use
Fear of damage/contamination
How long does something have to be missing for it to be assumed lost?
When is the damage (subsidence)
There are more issues to deal with than might be assumed given the key foundational importance of ‘Damage’ to PD and BI sections of a policy.
Audience discussion will be welcome on a topic by topic basis
Learning Outcomes: TBA
Indemnification on the Reinstatement Basis: Sartex Quilts & Textiles Ltd v Endurance Corporate Capital Ltd  EWHC 1103
The Judgement in the recent Sartex case provides further guidance to practitioners on the effect and significance of the Court of Appeal decision in Great Lakes Insurance (UK) Ltd v Western Trading .
It concludes that an indemnity on the reinstatement basis can still be given even if the reinstatement works have not been carried out. The session will run through the background to the case and the key points from the Judgement before concluding with a lively debate designed to enable members to exchange views and own experiences as to how these controversial cases will impact decisions concerning the correct measure of damages.
Learning Outcomes: Claimant SIG
Harry Roberts will take on the mantle of Fiona Bruce for this inaugural Question Time session for conference, chairing a panel with over a century of claims experience, and widely differing viewpoints, including:
Mike Weatherhead ACII FCILA FUEDI ELEA FIFAA
Sedgwick International UK
Sue Taylor ACII, Chartered Insurance Broker, Adv Dip CILA
Technical and Complex Claims Consultant
Loss Assessor, Partner
Conference attendees are invited to bring their thorniest questions to be dealt with, which the panellists will not know about beforehand, with one concession – to kick things off, they have been given the first question:
Does the replacement of an asset that has a warranty, with one that does, not constitute indemnity?