Case 1 (5 students): The CEO of LandLord LLC wants to sign an insurance
contract of the property complex owned by the enterprise. The Insurance Broker
offered LandLord LLC several insurance options. The CEO invites the Chief
Engineer, Chief Accountant and Chief Legal Officer to a meeting with the
Insurance Broker. Based on the results of the meeting it is necessary to choose one
insurance option.
Roles and tasks:
1) The Chief Accountant tells about the structure and cost of the property
complex and about the target insurance premium;
2) The Chief Engineer tells about condition status of the property complex
and its risk characteristic (factors, which can lead to an increase or decrease of the
insurance premium after the insurance survey of the complex);
3) The Insurance Broker offers different insurance options and explains the
advantages/disadvantages of each, including premiums;
4) The Chief Legal Officer draws attention to the legal risks associated with
the insurance options offered by the Insurance Broker;
5) The CEO asks clarifying questions and decides on the option based on the
results of the meeting.
Report from students:
The CEO should briefly describe what insurance options were discussed,
which option was chosen and why.
Case 2 (5 students): The CEO of SoldOut LLC wants to sign an insurance
contract of the goods shipped by the company. The Insurance Broker offered
SoldOut LLC several insurance options. The CEO invites the Chief Freight
Forwarder, Chief Accountant and Chief Legal Officer to a meeting with the
Insurance Broker. Based on the results of the meeting it is necessary to choose one
insurance option.
Roles and tasks:
1) The Chief Accountant tells about the accompanying documents being
drawn up, the value of the goods and about the target insurance premium;
2) The Chief Freight Forwarder tells about cargo routes and used types of
vehicles;
3) The Insurance Broker offers different insurance options and explains the
advantages/disadvantages of each, including premiums;
4) The Chief Legal Officer draws attention to the legal risks associated with
the insurance options offered by the Insurance Broker;
5) The CEO asks clarifying questions and decides on the option based on the
results of the meeting.
Report from students:
The CEO should briefly describe what insurance options were discussed,
which option was chosen and why.
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Case 3 (4-5 students): The CEO of OneWing LLC to terminate the
insurance contract after the loss of the aircraft hangar, which was insured. The
CEO invites the Chief Legal Officer, the Insurance Broker, the Counselor to CEO
and the Insurance Company (optional) to a meeting. Based on the results of the
meeting it is necessary to understand whether OneWing LLC is entitled to a return
of the insurance premium and in what amount.
Roles and tasks:
1) The Counselor to CEO tells about the date and circumstances of the
aircraft hangar loss;
2) The Chief Legal Officer tells about the terms and conditions of the
insurance contract in force;
3) The Insurance Broker describes how the insurance contract works in case
an insured risk exists no more due to circumstances other than an insured event;
4) The Insurance Company confirms or overturns the explanations of the
Insurance Broker;
5) The CEO asks clarifying questions in order to understand whether
OneWing LLC is entitled to a return of the insurance premium and in what
amount.
Report from students:
The CEO should briefly describe whether OneWing LLC is entitled to a
return of the insurance premium, in what amount and how the amount was
calculated.
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Case 4 (5 students): The Chief Accountant of RinkyDinkyCars LLC reports
to the CEO on the delayed payment of the installment due for CMTPL of the fleet
of vehicles owned by the enterprise. The CEO invites the Chief Accountant, the
Chief Legal Officer and the Insurance Agent for a conference call with the
Insurance Company. Based on the results of the call, it is necessary to agree on a
solution of the problem caused by non-payment of the insurance installment on
time.
Roles and tasks:
1) The Chief Accountant tells about when the installment could be
transferred and in what amount;
2) The Insurance Company tells about the consequences of non-payment of
the insurance installment on time and in the required amount;
3) The Chief Legal Officer draws attention to the legal risks out of no
CMTPL cover in force;
4) The Insurance Agent offers different options for solving the problem ;
5) The CEO asks clarifying questions and decides how to get out of the
situation.
Report from students:
The CEO should briefly describe what was discussed and what solution of
the problem was found.
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Case 5 (5 students): The Chief Legal Officer of BestPractice LLC reports to
the CEO on the insurance payment denial under the liability insurance contract.
The CEO invites the Chief Engineer, Chief Legal Officer and Insurance Agent to a
conference call with the Insurance Company. Based on the results of the meeting, it
is necessary to understand why the Insurance Company denied to pay.
Roles and tasks:
1) The Chief Engineer tells about the insurance event and its circumstances;
2) The Insurance Company explains the reasons for the insurance payment
denial;
3) The Chief Legal Officer draws attention to the legal aspects of the
insurance event and the insurance contract;
4) The Insurance Agent adds to explanations of the Insurance Company;
5) The CEO asks clarifying questions and decides how to get out of the
situation.
Report from students:
The CEO should briefly describe what was discussed and what solution of
the problem was found, if any.
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