February, 2017 CPD event - Indemnity Periods and Business Recovery

Fixing an adequate indemnity period can be a challenging task. Understanding how businesses can be affected in the event of a crisis without prior experience is fraught with difficulty and can lead to a significant exposure if an inadequate period is selected. The lecture explores the drivers behind periods of interruption and business recovery using real life examples across the three key sectors of manufacturing, services and retail/leisure. The aim is to arm those with responsibility for setting, reviewing or sanctioning indemnity periods with the knowledge and confidence to ensure adequate protection. The lecture includes an interactive discussion to reinforce understanding of the themes. This lecture is suitable for underwriters, claims handlers and brokers working in general insurance with a property element in their role Learning objectives At the end of this event, the delegate will be able to: • identify key drivers behind how long it will really take a business to recover from a crisis • dispel some of the myths behind setting indemnity periods – total loss is not the worst case scenario • appreciate the different requirements between sectors and business