Business interruption insurance is often perceived as a highly technical field, both difficult to sell and to service. As a result, it is a commodity that, although important to all risk portfolios, is undersold. This seminar aims to put aside the accounting and the numbers so that the insurance people in all disciplines can get a better handle on the how to’s of business interruption. Using case studies learners will get hands on practice determining coverage levels and claims settlements.
Business interruption insurance is a vital component of any business continuity plan and requires concentrated attention because it cannot be altered after a disaster occurs. Many aspects of BI replicate business continuity planning, especially the business impact analysis aspects of it and requires an understanding from the insurance professional from different aspects.
• Four KEY Concepts that you must know to properly write Business Income Coverage
• Major Business Income Policy Provisions
• How to calculate Coinsurance, Period of Restoration and Coverage Amounts
• Non-Coinsurance Options and when you should consider them
• How to determine Extra Expense needs and options for providing coverage
You’ll see the benefits of attending this seminar right away in your workplace:
Brokers : You will come away with the tools to assess various business interruption risks and to assist your customers determine coverage needs.
Underwriters : refresh your perspective on business interruption risks to ensure effective and thorough underwriting.
Adjusters : quickly identify potential coverage issues and ensure accuracy and understanding of determining coverage adequacy
CE hours: 5.5 (Ontario/Alberta/Manitoba)