How Does Bond Insurance Work

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Introduction

This short programme will provide participants with an overview of Bond Insurance and related aspects. The issue of bond claim procedures and recovery methods will also be addressed.

Case studies will be used to emphasize this product application in the insurance market.

 

Learning Objective

  • Understand the application of bond insurance in the construction industry.
  • Learn how bond claims are triggered and evaluated
  • Appreciate recovery aspects in relation to bond coverage.

 

Program Duration

1 Day

 

Program Content (9.00am -5.00pm)

  • Explain the need for bond in the construction contract
  • Some of the types of available bonds – performance, advance payment, warranty
  • Typical documents requested to underwrite bond risks
  • study a few claims scenarios relating to bonds

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