Business Interruption Insurance - all you need to know, explained in plain English

Business Interruption is something that we have all heard a lot about in the last few years with COVID playing a huge role. But what is Business Interruption Insurance?

Alan Chandler will take this opportunity to run through how BI Insurance should be correctly set up. Alan will lift any myths heard about BI and show how, in his easy to understand style, you can get this cover on a correct footing going forward.

Alan is widely regarded as one of the most popular and respected insurance presenters in the world. He has taken thousands of people through to ACII qualification including many national prize winners, as well as delivering a vast array of technical presentations on Commercial and Personal lines insurances.

Alan's webinars have been viewed across Europe, Asia, Africa, Australia, North America and South America and his audience numbers last year were well over 100,000. He has devised and delivered training programmes for major insurers and brokers, including Zurich, Allianz, Aviva, Hiscox, NIG, Gallagher, Aon, Towergate, GRP, Aston Lark, James Hallam and Marsh.

Alan has undertaken operational management roles in three major global companies running underwriting, broking and claims functions. In order to fulfil a long-term ambition, he set up his own training company, something that he had always longed to do as he is passionate about training. A number of Alan’s pieces of work have been published internationally and he is regularly called upon to provide expert legal guidance on insurance matters.

This presentation will be applicable for brokers, underwriters, claims staff and loss adjusters.

Learning Objectives:

This presentation will show you how to help your clients set a correct gross profit sum insured.

• Be able to explain to your clients the difference between accounting gross profit and insurance gross profit.

• How to guide your clients correctly so that they set an appropriate indemnity period.

• How to project a correct sum insured through an indemnity period.

• How to best set up BI cover for service firms with no stock.

• Be able to guide your clients on setting an appropriate sum insured for increased cost of working only cover.

• Be able to explain the difference between increased cost of working and additional increased cost of working.