In House - Webinar
Introduction to Business Interruption Insurance (Full Day)
£1200 + VAT
About the course
This live online interactive Insurance webinar is designed to introduce delegates, who have some experience of general commercial property insurance, to Business Interruption insurance.
The course will be highly interactive with delegate participation and engagement throughout. This all day course consists of 2 x 90-minute and 2 x 75-minute on-line sessions with 2 x 15-minute breaks and a 45-minute lunch break.
The course is delivered by a Certified Online Learning Facilitator (COLF) who is a Chartered Insurance Broker with over 40 years insurance experience.
By the end of this webinar delegates will be able to:
- recognise the problems of handling this class of business
- describe how a sum insured or estimate is arrived at from a set of accounts
- explain the difference between a standing charge and an uninsured working expense and understand which should be included in BI covers and which should not
- explain the factors that will affect the setting of a correctly forecasted estimate or sum insured for gross profit, revenues and fees covers
- explain the features of a business that will affect the setting of an appropriate Maximum Indemnity Period
- explain how a simple claim is settled and understand the role of the loss adjuster in claims settlements
- recognise the main features of a risk that will influence an underwriter in their assessment of acceptability and rating
- Typical Customer Attitudes Shown to Business Interruption Insurance and the Role the Broker Plays in Setting this Cover
- A Review of Covers Available, including Gross Profit, Revenue and Fees
- A Study of Policy Cover, including the Extent of Cover, Important Conditions and Exclusions and Clauses within the Policy Wording
- An Outline of Declaration Linked Covers and a Review of Maximum Indemnity Periods
- An Introduction to Risk Assessment and Rating Commonly Used
- The Principles of Claims Handling and the Role of the Loss Adjuster in Business Interruption Claims