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Chartered Insurance Institute
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Intermediate business interruption insurance - one day course
 

Overview

This interactive course provides participants with an opportunity to explore business interruption insurance in more depth than the introductory course.

Programme

  • Typical customer attitudes shown to business interruption insurance and the role of the broker in overcoming problems arising from these
  • A comprehensive review of gross profit cover, including the other main covers (revenue, fees, increased cost of working, additional increased cost of working)
  • Setting an estimate or sum insured from a set of accounts and projecting this using both declaration linked and traditional methods
  • Features that have a bearing on the setting of the maximum indemnity period and how these can affect the underwriter's assessment of EML
  • Risk assessment and rating influenced by the information obtained from the client
  • Business interruption extensions commonly requested
  • Calculating a simple business interruption claim.

Learning outcomes

At the end of the course you will be able to:

  • Explain how to overcome the problems of handling this class of business
  • State in detail how a gross profit figure is arrived at from a set of accounts
  • Explain in detail the workings of the standard gross profit, revenue and fees policy covers and definitions and explain how they work in practice to enable delegates to select the most appropriate cover for their clients
  • Provide a detailed explanation of the difference between declaration linked and traditional (sum insured) methods of arriving at a gross profit figure and recognise the advantages and disadvantages of both
  • Explain in detail the main features of a business that will affect the setting of an appropriate maximum indemnity period
  • Detail how a simple claim is settled and the role of the loss adjuster
  • Recognise the main features of a risk that will influence an underwriter in their assessment of acceptability and rating
  • Detail what cover is available for damage occurring away from the client's premises and identify the main extensions available.

Who should attend?

This course is suitable for delegates who have had a hands-on experience with this class of business for a minimum of two years.

Follow-on courses

Advanced business interruption insurance - issues and updates

CPD hours

Attendance of this course awards up to 6 CPD hours where you consider it relevant to your professional development needs.

Book online

Regional venues sold out!

Scheduled regional dates for this course have now sold out, please keep checking the website for updates to availability. Dates are added subject to demand and can also be run in-house for corporate clients.

London venues sold out!

Scheduled London dates for this course have now sold out, please keep checking the website for updates to availability. Dates are added subject to demand and can also be run in-house for corporate clients.