How to correctly advise policyholders on the policy coverage gaps caused by the Covid-19 lockdown

We welcome all members & guests to attend a lunch time webinar, via Zoom, which will be presented by Mr Alan Chandler who has recently delivered the very well received BI and Covid-19 webinar.

Overview

The Covid-19 lockdown has created far more gaps in covers than most brokers realise, and this webinar takes a look at where these coverage gaps arise and how best to advise your clients on these issues.

Alan will be providing this webinar on the essential things a broker must take into account, these will include his top ten tips which, if followed, will mean broking staff will be very busy. As well as brokers this webinar is also essential listening for underwriters, claims staff, loss adjusters and IFAs as these matters will affect their own policies.

Topics covered

• Many policies do not cover equipment whilst in employees home - are you sure your client has the right cover?
• What should you inform your policyholders about the potential new EL and PL risks that arise whilst employees are at home, and what is the coverage position on furloughing?
• Why a broker needs to be very careful about which insurer they place coverage with going forward, particularly in relation to declarations.
• There is a significantly increased D&O and Employment Practices exposure - these covers have never been more important, how well are you advising clients on their increased exposure?
• The cyber risk has increased dramatically - are you informing your clients of the critical need for cyber cover?
• Why it has never been more important to get your clients onto a declaration linked basis for BI - this is much more than the uplift in coverage
• What is the contract law position on payment holidays?
• Will the unoccupancy period invalidate part or all of your clients cover?
• Should the client be thinking of going onto laid up cover for part of their fleet coverage?
• What is the position of the Insurance Act 2015 on changes policyholders are having to make to their business?

Learning Objectives

By the end of the session, participants will be able to:

• Understand the correct position on contents at home coverage under a commercial policy.
• Understand the position on EL/PL coverage as it relates to the Covid-19 lockdown.
• Understand the increased D&O and cyber exposure caused by the Covid-19 lockdown.
• Understand the legal position on payment holidays.
• Understand the advantage of being on a declaration linked BI policy.
• Understand how unoccupancy could affect policy coverage.
• Understand how the Insurance act 2015 applies to the Covid-19 lockdown.

About the speaker:

Alan has undertaken operational management roles in three major global companies - NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Eleven years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom, he has also trained many national prize winners. Alan has delivered training for almost all the institutes in the UK over the past few years with his enthusiastic presenting style proving very popular. He is one of the few individuals who can teach at all levels of the CII examinations, he teaches almost all certificate, diploma and advanced diploma subjects and is one of the few people who can take someone from certificate all the way through to fully qualified ACII and his pass rates exceed 96%. Alan has presented across Europe on many technical subjects to companies including Allianz, Zurich, Aon, Marsh and Willis. He has been involved in the setting up of many diploma and advanced diploma programmes in both the UK and Ireland and is driven by a passion to see increased professionalism within the insurance industry.