National Insurance Academy, Pune|Insurance Technical (Non-Life)
P066 | Management of Property Insurance (Fire) (Non-Life)
Academic Year 2026-2027
Duration
3Days
Scheduled Dates
18 May 2026 - 20 May 2026
27 Jul 2026 - 29 Jul 2026
26 Oct 2026 - 28 Oct 2026
18 Jan 2027 - 20 Jan 2027
Background
Property (Fire) Insurance has long been a foundation of the general insurance business, safeguarding assets and supporting economic resilience. In the post-detariffing era, however, intense price competition and shrinking technical margins have challenged portfolio sustainability.
Recent regulatory recalibrations - such as minimum rates for NatCat, IIB-based pricing, standardised deductibles, the denotification of the All India Fire Tariff and evolving reinsurance arrangements - are reshaping this segment. The IRDAI's introduction of three Standard Fire Products marks a pivotal shift toward simplification, transparency, and customer-centric protection.
This three-day programme offers a comprehensive and practice-driven understanding of property risk assessment, underwriting, reinsurance, and claims management in the context of current market and regulatory realities.
Learning Objectives
Understand the erstwhile Standard Fire and Special Perils (SFSP) framework, coverage, and re-adapt them to market relevance; Prepare for the open, detariffed phase
Interpret and apply the features of the new Standard Fire Products notified by IRDAI.
Analyze and structure special property insurance solutions such as IAR and Mega Policies.
Evaluate and calculate Probable Maximum Loss (PML) for underwriting and reinsurance decisions.
Appreciate the significance of reinsurance structures in managing property risk exposures.
Develop sound claims management and large-loss handling practices.
Key Contents
Indian Property Insurance landscape - evolution, current market trends, and regulatory framework.
PML assessment techniques - methodology, computation, and impact on underwriting.
Standard Fire and Special Perils Policy (SFSP) - coverage, exclusions, and extensions.
Standard Fire Products: Griha Raksha, Sookshma Udyog, and Laghu Udyog Policies - scope and applicability.
Industrial All Risks (IAR) and Mega Policies - structure, differences, and coverage enhancements.
Business Interruption (Loss of Profit) Insurance - concept, coverage triggers, and extensions.
Reinsurance - proportional and non-proportional treaties for property portfolios.
Claims Management - processes, documentation, forensic insights, and best practices.
Who Should Attend
Officials engaged in underwriting, claims, audit, or risk management functions at the Head Office, Regional Offices, or Operating Units of Indian and foreign general insurers and of the intermediary fraternity.
