What is in store for November at MITC? Discover our CPD program
26 Oct 2020
Continuing professional development (CPD) is important because it ensures you maintain your professional competence. CPD is therefore an ongoing process that continues throughout a professional’s career. During November, we have a large variety of CPD online sessions at MITC to meet various requirements within the insurance sector. Here is our November 2020 line-up:
The claims process is anything but straightforward. Insurance processes involve many different circumstances and there are many parties involved. Despite insurers trying to make contract wording more robust and less subject to interpretation, there are inevitably always instances where liability or quantum is disputed. During this session, we will provide the participant with real case scenarios that involve particular areas of dispute, and use these examples to demonstrate how such cases are dealt with by insurers and the courts. Real life claims cases are the best source of learning and they provide a tried and tested outlook of how a dispute is resolved.
Motor insurance is a class of insurance that is intrinsically compulsory across Europe, which is why the EU has felt the need to issue directives to enable insurers within the EU to ensure harmonised legislation in this sector. This is especially important for the facilitation of motor insurance underwriting and claims for cross border cases, as vehicles are free to cross from one country to another under EU laws. The EU has issued a number of directives in the past years and legislation is continuously being updated in an effort to address issues that arise with cross border situations. The scope of this session is to update the participants with the recent changes proposed by the European Commission and how this will affect the industry in Malta.
Historically, brokers acted as the physical medium between the insured and insurer. This was especially evident and relevant in the past, when distances hindered the possibility of taking out insurance and so these in-betweens stepped in to bridge the gap. Traditionally, brokers acted on a face-to-face basis, and the practise expanded to all parts of countries as insurers reached out to potential buyers. But how relevant is this practise today? Is physical distance an issue in purchasing insurance? Indeed, new forms of distribution and promotion of products enable consumers to reach the insurer directly and this has had a great impact on the service of the broker. What has changed and what challenges should brokers tackle? This session will shed light on new role responsibilities and obligations for brokers in Malta, with insight into how brokers should be gearing up to address modern challenges.
Company law is an integral part of an insurance business. From the formation of an insurance company to its dissolution (if at all), an insurance company is governed by legislation which ensures that the company is managed with good corporate governance, is financially sound to operate, and the officers driving its operations are fit and proper for the tasks at hand. The session will deal with varying requirements that Board members, managers and company secretaries should know and adhere to. As different legislation operates specifically to different organisations, the session will not only deal with the transnational insurance companies but also with incorporated cell companies. Therefore, a number of technical requirements will be highlighted which will include management and administrators, procedural rules, filing and registration of documents as required by the relevant Act/s.