Webinar: Inflation and the implications for insurance
Overview
This 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
Learning Objectives
• 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
Content
General effect of inflation on insurance
- Solvency margins
- Rate increases
How inflation causes sum insured/limit issues
- Underinsurance and average
- Policylimits - including inner limits
- Fair presentations
Cover
- Declared value, index linking, adjustable limits, first loss on property/constructions policies
- Declaration link on BI, suppliers' extensions
- Motor - Market value
- Credit
Claims issues
- Supply chain increasing costs, delays
- Reserving
Speaker Biography
Nick Thomas, Nick Thomas & Associates
Nick offers a unique combination of skills in the UK insurance training sector – an industry sales specialist and a professional coach and trainer. Nick is an Economics graduate with over 25 years corporate insurance broking experience
He was a highly successful sales producer in the UK broking market before progressing into regional and then national sales leadership roles. As National Development Director at HSBC, Nick was one of only 40 people from a global workforce of 265,000 selected as part of the STARS programme to recognise exceptional performance. He is a highly trained consultative sales specialist, and his experience includes a secondment with a major management consultant to design a best practice sales process.
In the mid-2000s, Nick developed a chronic health condition; his journey to recovery fostered a new range of interests, and a passion for health, and performance. He studied widely, qualifying as a Master Practitioner in Neuro-Linguistic Programming (NLP), obtaining a Diploma in Life Coaching, before going on to study Corporate/Business Coaching with The Coaching Academy. Nick is also a qualified Holistic Lifestyle Coach and Advanced Exercise Coach.
Venue
- Online
CII Accredited
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.