WEBINAR: Utility extensions – a repeat of the pandemic expectation issues?
The FCA Test case showcased the range of different perceptions about the scope of disease cover. There are residual issues that are likely to litigate but we broadly know where we stand on the core issues. But misunderstandings about business extensions are not limited to disease covers – in particular, utility failure cover is provided generally on two fundamentally different bases (with a hybrid variant for good measure), threatens aggregation over a wide area if there were to be an extensive power outage, and would inevitably reveal misunderstandings about the extent to which the loss of internet sales might, or might not, be covered.
In the light of the above, this session will explore aspects of a power outage scenario and highlight the potential for further disputes mirroring that over covid-19.
- Understand the different ways in which power failure is covered in the UK
- Appreciate the difficulties that might present if there were to be an outage over a wide area
- Be aware that the expectation issues arising out of covid-19 cover may not be unique, and be emboldened to pursue clarity in policy wordings
Damian has chaired the Chartered Institute of Loss Adjusters’ (CILA) Business Interruption group for over a decade. He regularly runs financial loss seminars, and has written various articles and books on the subject of Business Interruption. He is the co-editor of Riley on Business Interruption Insurance.
Craig has worked for Sedgwick for 10 years dealing with a range of Business Interruption matters during that time. Prior to working in insurance, he qualified as a Chartered Accountant in London working with a leading accountancy practice.
Who Should Attend
Anyone involved in selling Business Interruption cover and managing Business Interruption claims.
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.