Webinar - How to set the correct Commercial property sums insured

Webinar - How to set the correct Commercial property sums insured

It is estimated that 90% of policies have incorrect sums insured! This presentation looks at the major issue of under insurance in the UK property market and how to help your clients avoid the under-insurance trap. With property inflation running into to double digits it is essential policyholders understand how to set correct sums insured to avoid their claim being reduced by average.

The presentation, delivered by Alan Chandler one of the UK's most popular insurance presenters, will look at what clients actually need to take into when settling Buildings, Contents and Stock sums insured. Alan will explore why under insurance is so common, the effects of under insurance for the client and why under insurance is an increasing cause of Professional Indemnity claims against brokers. Alan will also explore the different ways of insuring buildings, including declaration linked option as well as the different options open for insuring stock.

One of the problems is that the figures on the client's balance sheet are not the same as those required for insurance purposes and Alan will point out the differences so that clients can be warned. The presentation will be in a webinar format where delegates will be able to ask Alan questions at the end of the presentation.

Learning Objectives

Delegates will be able to:

• Understand what needs to be taken into account in respect of Buildings, Contents and Stock Sums Insured
• Understand why there is a difference between the figures for accounting purposes and the figures for insurance purposes
• Understand the effects of under insurance for clients and how to aid them in mitigating their exposure to under insurance

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