Professional Liability Underwriting Society (PLUS) is pleased to announce the launch of its latest program, the Certificate in Asia Professional Liability Insurance. This new certificate aims to equip insurance professionals with the specialized knowledge and skills necessary to navigate the complex landscape of professional liability insurance in the Asia region.
As businesses across Asia face increasingly complicated legal and regulatory environments, the need for comprehensive professional liability insurance coverage has become imperative. The Certificate, created in partnership with Singapore Insurance Institute (SII), offers industry professionals the opportunity to deepen their understanding of the unique challenges and intricacies associated with this rapidly evolving field. The comprehensive program covers a wide range of topics, broken into three e-learning modules:
Asia Module 1: Introduction to Professional Liability
Estimated time to complete this module: 10 hours
This module provides a foundation of basic concepts and fundamental principles needed for understanding all forms of PLI. While many lines of PLI are available, PLI has several common features. Learners who begin their study of PLI have varying degrees of knowledge and skill. This module will enable all learners to have a good understanding of fundamental concepts and basic principles underlying PLI.
This module is designed for:
- Agent/brokers who are new to selling PLI or who would like a better understanding of potential exposures.
- Underwriters with no specific prior experience with PLI policies or who would benefit from a better understanding of how to assess PLI risks.
- Claims professionals with no prior experience with PLI claims or who would like to deepen their understanding of how to evaluate these types of claims.
- Personnel in reinsurance companies who reinsure PLI policies.
- Anyone else who would like an introduction to PLI.
This module waives Module 3: Professional Liability Insurance: Introduction as part of the RPLU designation.
Asia Module 2: Introduction to Directors & Officers Liability Insurance
Estimated time to complete this module: 6 hours
The past several decades have seen an increase in lawsuits against corporate directors and officers, private companies, and non-profit organizations. Shareholders, employees, customers, and the government can all file lawsuits against these entities. Similarly, the regulatory environment has become more complex and onerous for companies and their directors. The need for Directors and Officers (D&O) liability insurance has never been greater. You may think that D&O coverage is only for large, public companies. However, the directors and officers of small, private companies and even non-profit organizations now have a greater risk of D&O lawsuits than they did in the past. Understanding the exposures that directors and officers face, as well as the coverage and protection provided by D&O liability insurance, increases your value to both your company and to your clients. This module introduces you to the types of exposures and coverage offered, and your role in providing this important product to your client companies. This introductory module prepares you to move on to the next more detailed Asia Module 3: Public Directors & Officers Liability Insurance.
This module is designed for:
- Agents/brokers who are new to selling D&O liability insurance or who would like a better understanding of potential exposures for directors, officers, and organizations.
- Underwriters who have no prior experience specifically with D&O Policies or who would benefit from a better understanding of how to assess D&O liability risks.
- Claims professionals who have no prior experience with D&O liability insurance claims or who would like a better understanding of the D&O claims process.
- Personnel in insurance companies who write D&O coverage.
- Risk managers or others who would benefit from an introduction to D&O liability insurance.
This module waives Module 8: Directors & Officers Liability Insurance: Introduction as part of the RPLU designation.
Asia Module 3: Public Directors & Officers Liability Insurance
Estimated time to complete this module: 7 hours
This module was developed to help increase your knowledge of Directors and Officers (D&O) liability insurance for publicly-traded companies and financial organisations. D&O liability insurance is intended to protect directors and officers from personal liability they may face based on their actions while fulfilling the duties they owe to the shareholders of their organisations. While directors and officers of private and non-profit companies are also at risk for D&O claims, the greatest financial risk is to the directors and officers of publicly-traded companies and financial organisations as well as to the insurers providing their D&O liability insurance. This module expands on Asia Module 2: Introduction to Directors and Officers Liability Insurance by focusing on the liability of public companies and financial organisations and the types of D&O coverage available for these exposures.
This module is especially important for:
Increasing your understanding of D&O liability insurance for public companies and financial organisations will help you identify and recommend more comprehensive and appropriate coverage for your clients. Your understanding of the unique characteristics of D&O liability insurance for public companies will enable you to more effectively guide your clients in evaluating and purchasing D&O coverage. This module will help you explain common policy features and coverage, identify potential coverage gaps, and suggest additional types of coverage to protect individual directors and officers. If your clients are banks or financial service organisations, then this module will help you understand the unique exposures they face and the special types of coverage they may require.
This module will help you understand the complex factors involved in underwriting D&O Policies. You will learn the importance of the application process and the factors that D&O underwriters use in selecting suitable applicants. You will also gain insight into how D&O Policies are written. Understanding the special features of D&O liability insurance for public and financial organisations will help you assure that the policies written are appropriate for your clients.
- Claims Professionals
This module will help you understand the complexity of D&O Policies, claims, and litigation. While D&O Policies and provisions have some common elements, they are often unique to the individual insured. This module will provide you with greater insight into D&O Policies and the complications that can arise from D&O claims, litigation, and settlements.
The D&O liability insurance industry is a constantly changing and challenging market. This module in the PLUS Curriculum will help you to understand how these challenges can become promising opportunities for you and for your company.
This module waives Module 9: Public/Financial D&O Liability Insurance as part of the RPLU designation.
The Certificate in Asia Professional Liability Insurance provides participants with the flexibility to learn at their own pace and from the convenience of their preferred location. The program incorporates engaging content, case studies, and assessments to ensure a dynamic learning experience.
“PLUS remains committed to being the global leader in preparing liability insurance professionals with the knowledge and expertise needed to excel in their respective fields,” said Robbie Thompson, CEO of PLUS. “We are thrilled to launch the Certificate in Asia Professional Liability Insurance, which addresses the specific needs and challenges faced by professionals operating in the rapidly growing Asian insurance market.”
The program is open to insurance underwriters, brokers, risk managers, claims professionals, and any other individuals seeking to enhance their understanding of professional liability insurance in the Asian context. Upon successful completion of the program, participants will be awarded their Certificate in Asia Professional Liability Insurance from PLUS.
Learn more about the Certificate in Asia Professional Liability Insurance and start your learning journey here.