Business Interruption

Introduction

This course provides an overview of business interruption insurance, suited to delegates who have working knowledge of property insurance but wish to gain an understanding this class of business.

What's Covered
  • Covers available – gross profit, revenue, increased cost of working
     

  • How the policy works
     

  • Terminology – gross profit, rate of gross profit, maximum indemnity period
     

  • Getting the cover right
     

  • Common pitfalls
     

  • Common extensions

Course Outcome
  • Explain the cover provided by a business interruption policy
     

  • Describe the factors to take into account when setting the sum insured and maximum indemnity period
     

  • Outline some common policy extensions
     

  • Recognise the problem areas when handling business interruption insurance

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