Business Interruption

This one day course is for those with some prior working knowledge of business interruption insurances. SME level is fine.

The aim is to provide an enjoyable and comprehensive analysis of the key elements of the BI policy and of how BI works in practice. We shall look at covers and policy benefits through a review of the policy formula, real examples and a practical group exercise, and work on guiding clients on Sums Insured and Maximum Indemnity Periods etc.

After attending this course, participants should have a strong understanding of the major aspects of Business Interruption Insurances, to assist in correctly assessing clients' needs in arranging adequate cover and helping confidently with a BI claim.

Learning Objectives

• To raise our understanding of BI covers, principles and the policy formula
• To attack for new business and improve present covers
• To identify and deal with common pitfalls such as:
• explaining to clients how BI works
• Fair Presentation of BI risks
• short maximum indemnity periods
• payroll and Uninsured Working Expenses
• rates of gross profit
• calculating a Sum Insured
• confident use of Increased Costs
• Advance Profits & Rent covers
• policy extensions & clauses - and so
• improve the outcomes of Sales and Claims and thus
• reduce Professional Indemnity risks.

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