Advanced BI Day Course 2

Aon UK Reading
Tuesday, 10 December 2019
9:30 am – 4:30 pm

Speaker- Rod Smith FCII FCILA

Key Learning Objectives:

  1. To raise understanding of BI covers, principles & the policy formula
  2. To help attack for new business, underwrite BI covers and resolve BI claims
  3. To identify pitfalls such as:
  • Short maximum indemnity periods,
  • low sums insured, uninsured wages & salaries
  • Changing Rates of Gross Profit
  • Property away from Premises
  • Insufficient policy extensions & clauses - and so
  • Improve the outcomes of Sales and Claims

Major Aspects of the course

  • Protecting the future earnings of the business
  • Protecting the future earnings of the business
  • Contract of Indemnity and Policy formula
  • The Insurance Act 2015 and BI
  • Fire & Perils, “all risks” and Theft
  • Key policy Conditions
  • Material damage proviso – still fit for use?
  • Gross Profit and wages
  • Rate of Gross Profit
  • Profit & Loss accounts & balance sheets
  • Turnover, Revenue, Fees
  • A group exercise on drafting a Sum Insured
  • Actual Indemnity Periods
  • Standard Turnover
  • Shortfall in Turnover
  • Using Special Circumstances
  • Increased Costs of Working
  • Additional Increased Cost of Working
  • Savings in insured expenses
  • Group calculation of a complex BI claim in a factory
  • Types of classic Underinsurance
  • Dependency on Suppliers & Customers
  • Some other policy extensions – denial of access, food poisoning, disease, murder, bomb hoax, electricity etc.
  • Ways of insuring Rent
  • Advance Profits – seeing the need, selling & underwriting it
  • Some useful policy clauses
  • Some lessons from BI litigation

Lunch will be included at approx. 12.30pm.

  • Sutton Room, Aquis House,
  • 49-51 Blagrave St,
  • Reading
  • RG1 1PL
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CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

6 1/2 hours' 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