This workshop is ideal for those with more than two years’ experience of handling business interruption insurance as a separate class of business, as it provides a more detailed study of some of the more complex features of business interruption insurance.
The workshop examines all the main aspects that need to be mastered by those involved in placing or underwriting this class of business.
A detailed look at the main barriers to handling this class of business
Covers available – gross profit, revenue,fees, increased cost of working and additional increased cost of working
The main elements of the policy wording – extent of cover, important conditions, exclusions and clauses
How to select the correct figures from a set of accounts and then project them forward using the declaration linked and traditional (sum insured) methods
The features of a risk that have a bearing on the setting of the maximum indemnity period and how these affect the underwriter’s assessment of EML
How risk assessment and rating is influenced by the information obtained
The principles of claims handling and the role of the loss adjuster
Extensions commonly requested
Testing (optional)
