WEBINAR - Business Interruption Insurance – Intermediate
WEBINAR - Business Interruption Insurance – Intermediate
Overview
This workshop builds upon the knowledge acquired during the introductory session and is suitable for the practitioner with some experience of commercial insurance risks. We shall examine the benefits and drawbacks of alternatives to conventional gross profit cover as well as the various non-damage extensions to cover.
Who should attend?
The workshop is suitable for anyone who is involved in commercial risks underwriting, broking or claims handling.
By the end of the session, attendees will:
- Understand how different approaches to policy cover work and their suitability for different firms
- Be able to apply the economic limit to a claim settlement
- Be able to explain the drawbacks of limiting cover the increased costs of working (ICOW)
- Understand the “special circumstances” clause and the impact of the FCA case upon its application
- Be able to calculate the level of cover for suppliers and customers extensions
Course Content
- Overview of revenue, ICOW and AICOW covers
- Consideration of the problems associated with different type of cover
- Applying the economic limit – a brief worked example
- How non-damage cover extensions work and some issues concerning aggregation
- The process of calculating a claim settlement and how the application of the special circumstances clause has altered.
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Q&A session
Speaker Biography
David is an experienced insurance professional with a career spanning 40 years. He is a subject matter expert for the Chartered Insurance Institute, authoring and updating modules for the CII computer-based training programme, Broker Assess. 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, managing 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.
CII Accredited