CPD Webinar - Inflation and the insurance considerations

This very topical session on inflation considers what effect increasing inflation has on business insurance – what clauses and cover issues brokers and insurers need to consider for various classes of insurance.

General effect of inflation on insurance

• Solvency margins
• Rate increases

How inflation causes sum insured/limit issues

• Underinsurance and average
• Policy limits – including inner limits
• Fair presentations

Cover

• Declared value, index linking, adjustable limits, first loss on property/construction policies
• Declaration link on BI, suppliers’ extensions
• Motor (market value)
• Credit

Claims issues

• Supply chain increasing costs and delays
• Reserving

Speaker Bio

David Hole is an experienced insurance professional with a career spanning 40years; he has enjoyed wide exposure in the London Insurance Market and elsewhere resulting from his industry-specific training activity.

His experience includes Head of Claims at Plum Underwriting Ltd, where he was responsible for managing the relationship between insurers and claims third party administrators, handling larger claims received via technical referral processes.

David has been delivering technical insurance training for over 20 years, to a variety of different industry customers in the UK and abroad, and provides examination support for clients undertaking CII studies to achieve industry recognised designations. He provides training on many general insurance classes up to at least intermediate level to include motor trade insurance, cyber, marine cargo, commercial property, business interruption, liabilities, construction, engineering, and trade credit. He also delivers more generic underwriting and claims training.

David is a subject matter expert for the Chartered Insurance Institute, authoring and updating modules for the CII computer-based training programme, Broker Assess.