How to set correct Bi sums insured in a Covid-19 affected economy

The Insurance Institute of Inverness, the Highlands and Islands is happy to announce that their next webinar will focus on how to set correct Bi sums insured in a Covid-19 affected economy, where the client’s book of accounts no longer resembles the correct long term trading position.

Two lockdowns and massive drops in customer numbers will mean the 2020 book of accounts for most businesses will have absolutely no reflection of the true earning capacity of that enterprise. So how do clients go about setting a correct Business interruption sums insured for the forthcoming period of insurance?

Learning Objectives

Following this presentation delegates will be able to:

• Explain to your clients the difference between accounting gross profit and insurance gross profit including understanding declaration linked cover.
• Understand the steps in a Bi claim.
• Understand how to project a Bi sum insured including considering future economic changes.

This webinar, presented by Alan Chandler, one of the UK's most popular insurance presenters, will start by running through how business interruption insurance is normally set up and will include examining the steps involved in how a Bi claim is settled. Once this basis is established Alan will explore how to project sums insured through the indemnity period and why the underwriter broker relationship has never been more important. Letters of intent may become the temporary new norm.

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