Inflation and Insurance Considerations
The session on inflation considers what affect increasing inflation has on business insurance – what clauses and cover issues brokers and insurers need to consider for various classes of cover.
CONTENT AND LEARNING
- General effect of inflation on insurance
• Solvency margins
• Rate increases
How inflation causes sum insured/limit issues
• Underinsurance and average
• Policy limits – including inner limits
• Fair presentations
• Declared value, index linking, adjustable limits, first loss on property /construction policies
• Declaration link on BI, suppliers’ extensions
• Motor - Market value
- Claims issues
• Supply chain increasing costs, delays
Be aware of the affect that inflation has on insurance
Know which covers help provide clients with protection against effects of inflation
Be able to identify claims issues caused by inflation
This is a Zoom webinar. You must pre book to receive slides and recording of this session if you cannot attend live. The Zoom link will be sent out 48 hours before the event
Diane Jenkins BA [Hons], ACII, Chartered Insurance Broker – technical insurance trainer
Diane has huge experience working with major Brokers across a range of roles and disciplines, to include:
- Programme design
- New business
- Client Servicing
- Mergers and Acquisitions (M&A) due diligence
Diane is now one of the most highly respected technical insurance trainers to the insurance market.
Diane’s strength is in practical application of knowledge with specific specialisms including Business Interruption, Cyber and Property Owners.
She is the Education Secretary and former chairperson of the London Business Interruption Association. She was part of the IIL Advance Study Group - Business Interruption Policy Wordings and has collaborated with the authors of several Business Interruption textbooks.
She is a member of the Cyber Insurance Association, and she carries out the insurance cyber policy reviews for Cyber|Decider (https://www.cyberdecider.com/)
Diane’s work includes delivery as an Associate for Nick Thomas & Associates.
Please note: This event is a regional collaboration between the local institutes in the area. Your booking details will be shared with the Insurance Institute of Reading, which is acting as the host institute for this event.
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.