Establishing Insurable Gross Profit Webinar

The Cumbria Institute of Insurance and Financial Planning invites you to join our Webinar on the topic of Establishing Insurable Gross Profit hosted by David Hole ACII from 1pm - 2pm. We would love for you to join us as we continually strive to offer learning and growth opportunities for our members.

Objectives:

• Understand the nature of insurable gross profit is and how it differs from the accountant’s definition

• Appreciate the nature of fixed costs and why insurance for these is required 

• Be able to explain the application of the economic limit to claims settled on the basis of increased costs of working 

Content and Learning:

• Explaining the finding in Infinity v Heath Crawford 
• Defining insurable gross profit and how this differs from the accountant’s definition 
• Consideration of the potential pitfalls in calculating a firm’s gross profit. 
• Explain how the rate of gross profit assists in calculating the ‘economic limit’ applicable to ICOW claims 
• Those situations in which AICOW settlements may be justified