How to correctly advise your clients on setting correct indemnity periods under Business Interruption insurance policies

>> Event Overview

Brokers increasingly face PI claims for failing to advise clients correctly on setting appropriate Business Interruption indemnity periods.

Recently a broker was successfully sued for failing to give any guidance around indemnity periods to a manufacturer who had a twelve-month indemnity period. Nothing was ever recorded by the broker about the fact that twelve months was almost certainly inadequate, in fact it was the Loss adjuster after the fire took place that educated the client on setting correct indemnity periods, unfortunately too late for all concerned. This webinar looks to make sure this does not happen to you or your staff.

This one-hour webinar provided by Alan Chandler. will examine all the different factors a client needs to take into account when setting an indemnity period. The presentation will include guiding clients who are on a Gross Profit Bi basis, a Gross Revenue or Fees basis and will also include how an Increased Cost of working only policy should deal with prospective losses over 12 months.

>> Learning Objectives

This webinar will enable delegates able to understand:

• How Indemnity periods operate in Business interruption insurance.

• All the different factors a policyholder needs to take into account when setting an indemnity period.

• How service sector businesses on Gross Revenue or Increased Cost of Working only cover should set Business Interruption cover to deal with prospective losses over twelve months.

>> More about our speaker

Alan Chandler 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 has raised the pass rates in Cii exams where he is involved from under 40% to 99% demonstrating why he is so well regarded.

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 the Cii as well as most of the major insurers and brokers including Allianz, Zurich, Lloyd's, Hiscox, Aviva, Admiral, Gallagher, Aon, Towergate, GRP, Aston Lark, James Hallam and Marsh, however, Alan is equally happy to be devising and delivering programmes for small independent brokers and MGA's. He has a real passion for equipping staff to pass Acii exams and learn new technical concepts and it is his plain English way of presenting that has made him so popular.