Business Interruption Insurances (SOLD OUT)

Business Interruption is the most important cover we sell. If it works, it rescues the client’s entire business. If it goes wrong, the client’s business will die, and we’ll probably be blamed and sued. It’s as simple as that.

That said, some Insurers, Brokers and loss adjusters find the concept of business interruption difficult to grasp and even harder to explain to others. The aim of this short course is therefore to provide an Introductory explanation of everyday BI, using real examples of the key elements of the BI policy and how BI covers work in practice.

This Introductory workshop for those with basic BI skills will provide delegates with a sound understanding of business interruption insurances including, but not limited to:

• Protecting the future earnings of the business
• A Contract of Indemnity and the Policy formula
• Understanding Gross Profit and Revenue
• The Rate of Gross Profit – essential for sales and claims
• Gross Profit and wages & salaries
• Material damage proviso

Learning Objectives

• Choosing Maximum Indemnity Periods
• Identifying Uninsured Working Expenses
• How to use a Profit & Loss account
• Calculating Sums Insured for Gross Profit or Revenue
• The material damage proviso
• How a claim is calculated - and so
• Improve the outcomes of Sales and Claims