How to advise correctly on Business Interruption extensions and advanced loss of profit

>> Event Overview

One of the many things the Covid-19 pandemic has taught the insurance industry is the importance of going through the various BI extensions with clients and documenting these discussions. Failure to do this could leave the broker wide open to a PI claim against them.

This presentation looks specifically at BI extensions, the purpose of each one of them and how in each case an incident could give rise to a claim. Many in the industry have an incorrect view of extensions, for example many discuss utilities extension cover with clients when they really mean terminal ends, so give a wrong impression of the coverage their policy is actually providing.

This webinar, in plain English style, details how these essential additions to cover operate. In addition it will look at advanced loss of profits and examine why this is so under sold.

This presentation will be appropriate for brokers, underwriters, claims staff and loss adjusters.

>> Learning Objectives

At the end of this presentation delegates will be able to understand:

• Customer and suppliers Bi extensions and why insurers should try and do more on the overseas extension side
• Denial of access extensions
• Disease, food poisoning, murder etc extension
• Loss of attraction extension and how this differs from denial of access
• Utilities and terminal ends and how these differ
• Advanced loss of profits and why this is so under sold
• Many other of the BI extensions offered in the market place and when they are appropriate for a risk

>> More about our speaker

Alan has been an operations and project manager in three large global companies . NatWest insurance services , Royal Bank of Scotland insurance group and Allianz.

In the last ten years running his own training company he has taken more than 2.000 people to Acii including six people who have achieved the top ACII pass rate in the whole of the UK. He has trained national prize winners in almost all CII subjects, has been a CII examiner and has a pass rate of 96% in CII training.