Business Interruption Insurance
Business Interruption insurance is often seen as one of the most complex and misunderstood areas of our industry. However, with claims and litigation increasing apace, this is a topic that insurance professionals do need to grasp firmly, in order to deal with both placing cover correctly and assisting with claims - and thereby reduce professional indemnity exposures.
This intermediate level workshop will provide delegates with a sound understanding of business interruption insurances including:
• protecting the future earnings of the business
• contract of indemnity and policy formula
• key policy conditions
• material damage proviso
• gross profit and wages
• rate of gross profit
• P&L accounts and balance sheets
• turnover, revenue, fees
• group exercise on drafting a sum insured
• standard turnover
• special circumstances
• increased costs of working
• group exercise after a restaurant fire
• savings in insured expenses
• types of classic underinsurance
• policy extensions
• ways of insuring rent
• flexible limit of loss
• advance profits – spotting the needs
• BI lessons from the courts
The workshop will be interactive and engaging, with plenty of opportunities for questions and case study based examples.
Please note that delegates will be asked to undertake a small amount of pre-workshop preparation, in order to benefit fully from the session.
Rod Smith FCII FCILA, is a CII accredited Advanced Technical Trainer and runs regular training sessions for the CII’s Face 2 Face learning centre.
Rod is a Director at Claims Consultancy Ltd, having formed the business in 2001. Prior to this role, he worked for Property and Casualty Services and played a fundamental role in setting up the company’s European operation.
This full day course is free CII/PFS members and £75 for non-members. Lunch will be provided. Please note that the course is limited to 12 delegates and in the event that the course becomes over-subscribed, priority will be given to members.
Please use the "Book Now" option to reserve your place.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
6 1/2 hours' 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.