Business Interruption Insurance (All you need to know) - 2 Day Programme - Searchlight Insurance Training

Business Interruption Insurance (All you need to know) – 2 Day Programme

This two day participative workshop provides a more detailed study of the main features of business interruption insurance. It examines all the main aspects which need to be understood by those involved in placing or underwriting this class of business.

The workshop is ideal for those with more than two years experience of handling business interruption insurance as a separate class of business.

Level: Inter/Adv

Duration: 2 day(s) CII CPD Hours: 12
     

WORKSHOP OBJECTIVES

  • explain why this class of business is vital to clients and show how it works in practice using easy to understand terms
  • understand how to overcome the problems often experienced in handling this class of business
  • thoroughly understand how all Business Interruption covers (gross profit, revenue, fees, income, rent, increase in cost of working etc) work and know how to select the most appropriate for a client
  • decide where additional increase in cost of working cover is appropriate and explain how it can improve existing covers
  • understand how to properly forecast an adequate estimate or sum insured and explain how to make sure this remains up to date on an ongoing basis to protect the client, the broker and the Insurer from the effects of setting this too high or too low

OBJECTIVES CONTINUED …..

  • recognise what procedures some Insurers are now adopting to protect themselves from deliberate underinsurance
  • thoroughly understand the difference between the declaration linked and traditional methods of forecasting the amount to be insured and recognise the pros and cons of both
  • understand what information is required to set up Advanced Business Interruption covers and recognise which features will most affect acceptance and rating
  • understand the main features of Engineering Business Interruption covers
Please contact usĀ for more information about this informative workshop at brokeracademy@ssluk.net.