How to set the correct property sums insured
It is estimated that 90% of policies have incorrect sums insured!
This presentation looks at the major issue of under insurance in the UK property market and how to help your clients avoiding the under insurance trap. The webinar, will look at what clients actually need to take into when settling Buildings, Contents and Stock sums insured.
Alan Chandler will explore why under insurance is so common , the effects of under insurance for the client and why under insurance is an increasing cause of Professional Indemnity claims against brokers. One of the problems is that the figures on the clients balance sheet are not the same as those required for insurance purposes and Alan will point out the differences so that clients can be warned.
- Understand what needs to be taken into account in respect of Buildings, Contents and Stock Sums Insured
- Understand why there is a difference between the figures for accounting purposes and the figures for insurance purposes
- Understand the effects of under insurance for clients and how to aid them in mitigate their exposure to under insurance
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.