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.
By attending this webinar, delegates will be able to:
- Identify the different ways in which power failure is covered in the UK
- Appreciate the difficulties that might present if there were to be a power loss 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 over 25 years’ experience in commercial claims. Having qualified as a Chartered Accountant with KPMG in 1986, Damian had experience of forensic, insolvency, general audit and special investigation work prior to entering the loss adjusting profession in 1993.
Since then he has dealt exclusively with large and/or complex financial losses in the UK and overseas, representing both policyholders and insurers, and acting as an expert in commercial disputes. He has provided evidence in litigated cases for over a decade and has appeared in court as an expert witness.
As both a Chartered Loss Adjuster and Chartered Accountant he has experience of practical loss mitigation as well as the retrospective assessment of losses arising.
Interested, but can't attend?
Don't worry if you can't make the date/time of this webinar, it is being recorded. Please book a place as per normal and use the webinar link to access a recording post event.
The slides from this webinar are available to download below:
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 Chelmsford and South Essex, 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.