Online Event: Critical Business Interruption insurance learnings for brokers following the Infinity Reliance judgement

The Insurance Institute of Cardiff invite you to a webinar on; Critical Business Interruption insurance learnings for brokers following the Infinity Reliance judgement

Event Details:

Tuesday 9th July 2024 - 12:00 – 13:00

The webinar will be run via Zoom, a global web-conferencing solution. Zoom is easy to use, a link and joining instructions will be sent to you at the time of booking.

About the session:

One of the most important judgements in recent times relating to Bi insurance was made in the Infinity Reliance case, and brokers who fail to change their proceedings risk large Pi claims against them going forward.

This case has shown brokers are very exposed to the following three areas:

1. If indemnity wordings are used rather than declaration linked.
2. Any broker guidance note must reflect the actual policy wording.
3. AICOW must be discussed when there are unusual exposures.

Average was applied by Aviva to the Bi claim following a large loss, and the broker was held liable for most of the shortfall, which was nearly £3m, due to their failure on the above three points.

This webinar, presented by Alan Chandler, one of the most popular presenters in the UK, looks to understand how brokers are exposed following this judgement and how to take practical steps to ensure the right procedures to mitigate these exposures are in place.

This webinar is a must for all broking staff and has significant relevance for underwriters and claims staff also.

Learning objectives:

Following this presentation the delegates will be able to:

1. The key points of the Infinity Reliance judgement and how to mitigate their Pi risk.
2. The difference between a Bi indemnity wording and a declaration linked wording.
3. The difference between ICOW and AICOW.
4. The insurers definition of variable expenses on a Bi wording.

About the speaker:

The Course will be run by Alan Chandler.

Alan has been an operations and project manager in three large global companies. NatWest insurance services, Royal Bank of Scotland insurance group and Allianz. In the last ten years running his own training company he has taken more than 1.000 people to ACII including six people who have achieved the top ACII pass rate in the whole of the UK. He has trained national prize winners in almost all CII subjects, has been a CII examiner and has a pass rate of 96% in cii training. His website is www.alanchandler.co.uk

Further information:

A link will be sent via your email address supplied at the time of booking. PLEASE DO NOT share this with anyone else.

Please note that this webinar will be hosted on the Zoom platform which may be restricted by some employers. Members may need to utilise their own personal devices in these circumstances to access the platform.