[GI] All-Day Workshop - Business Interruption

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
• Profit & Loss accounts & balance sheets
• Turnover, Revenue, Fees
• A group exercise on drafting a Sum Insured
• Standard Turnover
• Special Circumstances
• Increased Costs of Working
• A 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
• Some 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.

A buffet lunch will be served at around 12.30pm