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Business Interruption Insurance – Advanced

Level:Advanced Duration:1Day CII CPD Hours:6

This participative workshop provides a more detailed study of some of the more complex features of business interruption insurance.

  • Delegates who successfully complete this workshop will understand:
    • How business interruption insurance covers work
    • How to overcome problems handling this class of business
    • The main features of a business that will affect the setting of the maximum indemnity period, and how to use these to determine the most appropriate policy for a client
    • The difference between full value and first loss covers and the advantages and disadvantages of both
    • The information required to set up advanced business interruption covers and why underwriters need this
    • The main features of engineering business interruption covers
    • How cover for damage occurring away from the client’s premises needs to be assessed, and what information is needed to agree appropriate cover for a client
    • How a gross profit claim is settled and the role of the loss adjuster in claims settlements
    • The purpose of the salvage sale, accumulated stocks, departmental, alternative trading and new business clauses
  • Workshop content includes:
    • An analysis of typical customer attitudes to business interruption insurance and the role the broker plays in overcoming problems the cause
    • A comprehensive review of all business interruption covers including gross profit, revenue, fees, increased cost of working, additional increased of working, rent, book debts, engineering BI covers and advanced BI covers
    • A study of the essential features that have a bearing on the setting of the maximum indemnity period, with exercises to show how some businesses may require different considerations
    • The principles of claims handling and the role of the loss adjuster in business interruption claims
    • A comprehensive look at the range of extensions available with discussion on how these can be selected to provide appropriate cover for a client
    • Detailed examination of the Business Interruption extensions commonly requested
    • End of course quiz
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Business Interruption Insurance – Advanced

£262.00 Exc. VAT

This participative workshop provides a more detailed study of some of the more complex features of business interruption insurance.

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