Webinar: Business Interruption - further considerations

This session is a follow up to ‘Establishing Insurable Gross Profit’ which considered the problems associated with the establishment of a firm’s gross profit and the maximum indemnity period. This session moves on to consider further issues and pitfalls associated with the provision of business interruption cover. 

The course will include:

• Why ICOW or AICOW is suitable for many risks 
• When ALOP cover should be recommended  
• What are the potential drawbacks of limiting cover to ICOW 
• Consideration of some of the more flexible or innovative approaches insurers use to provide cover 
• The impact of supply chain disruption upon cover and claims and how businesses cope  
• Detailed consideration of extensions (non-damage) to cover including customers, public authorities’ closure, act of competent authority, as modified by the FCA pandemic related case 

Course Objectives are:

• Be aware of the benefits and drawbacks of limiting cover to ‘increased costs of working’ and ‘additional increased costs of working’ cover  
• Understand where advanced loss of profits and flexible first loss cover may be suitable 
• Have detailed knowledge of some of the more commonly encountered non-damage extensions to cover 
• Fully understand the implications of the FCA case brought against insurers following the pandemic-related business interruption case 

The session will be hosted by David Hole ACII from Nick Thomas & Associates.  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.