CPD WEBINAR: How to correctly advise your clients on setting correct indemnity periods under Business Interruption insurance policies.
Brokers increasingly face Pi claims for failing to advise clients correctly on setting appropriate Business Interruption indemnity periods.
Recently a broker was successfully sued for failing to give any guidance around indemnity periods to a manufacturer who had a twelve-month indemnity period. Nothing was ever recorded by the broker about the fact that twelve months was almost certainly inadequate, in fact it was the Loss adjuster after the fire took place that educated the client on setting correct indemnity periods, unfortunately too late for all concerned. This webinar looks to make sure this does not happen to you or your staff.
This one-hour webinar provided by Alan Chandler, one of the most popular presenters in the UK, will examine all the different factors a client needs to take into account when setting an indemnity period. The presentation will include guiding clients who are on a Gross Profit Bi basis, a Gross Revenue or Fees basis and will also include how an Increased Cost of working only policy should deal with prospective losses over 12 months.
This webinar will enable delegates to understand:
- How Indemnity periods operate in Business interruption insurance.
- All the different factors a policyholder needs to take into account when setting an indemnity period.
- How service sector businesses on Gross Revenue or Increased Cost of Working only cover should set Business Interruption cover to deal with prospective losses.
Housekeeping: This session will be recorded and is only available via Zoom. The link will be sent out to all of those who have booked 48 hours before the event. By booking in advance, this is the only way to receive a recording of the event. Any questions please contact Education lead firstname.lastname@example.org
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.