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Business Interruption Insurance – Advanced

Searchlight
Course summary
1 day
Birmingham, London, Manchester
Open / Scheduled

Business Interruption Insurance – Advanced

Business Interruption Insurance – Advanced

This participative workshop provides a more detailed study of some of the more complex features of business interruption insurance. Participants will learn how to overcome the problems of handling this class of business, understand how all business Interruption covers work, explain the purpose of the Salvage Sale, Accumulated Stocks and more.

In addition, this course will go over typical customer attitudes shown to Business Interruption insurance and the role the broker plays in overcoming problems arising from these. 

Suitability - Who should attend?

This course is suitable for participants who have a working knowledge of business interruption underwriting.

Outcome / Qualification etc.

The course is worth 6 CII (Chartered Insurance Institute) CPD hours.

At the end of this course participants will be able to: 

  • Thoroughly understand how to overcome the problems in handling this class of business
  • Thoroughly understand the main features of a business that will affect the setting of the Maximum Indemnity Period and recognise how to use these to determine the most appropriate for a client
  • Thoroughly understand how all Business Interruption covers work and recognise how to select the most appropriate for a client
  • Understand the difference between full value and first loss covers and explain the advantages and disadvantages of both
  • Recognise the information required to set up Advanced Business Interruption covers and understand the underwriting reasons why this is needed
  • Understand the main features of Engineering Business Interruption covers
  • Thoroughly understand how cover for damage occurring away from the client’s premises needs to be assessed and understand what information is needed to agree appropriate cover for a client
  • Understand how a Gross Profit claim is settled and the role of the loss adjuster in claims settlements
  • Explain the purpose of the Salvage Sale, Accumulated Stocks, Departmental, Alternative Trading and New Business Clauses

Training Course Content

This course covers the following topics: 

  • Typical customer attitudes shown to Business Interruption insurance and the role the broker plays in overcoming problems arising from these
  • Comprehensive review of all Business Interruption covers including Gross Profit, Revenue, Fees, Increased Cost of Working, Additional Increased of Working, Rent, Book Debts, Engineering BI covers and Advanced BI covers
  • A study of the essential features that have a bearing on the setting of the Maximum Indemnity Period with exercises to show how some businesses may require different considerations
  • The principles of claims handling and the role of the Loss Adjuster in Business Interruption Claims
  • A comprehensive look at the range of extensions available with discussion on how these can be selected to provide appropriate cover for a client
  • Detailed examination of the Business Interruption extensions commonly requested
  • Quiz

Expenses

Fill out the 'request information' form to contact Searchlight for more information and pricing details.

In-House Training

Searchlight can also deliver this course as an in-house workshop, delivered at your location of choice and adapted to suit any specific needs you may have. Please note that, while the open programmes have an insurance broking focus, thein-house courses can be tailored for any organisation.

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Provider: Searchlight

Searchlight - Training Courses for the Business Insurance Industry

Searchlight - Leading UK Training & Consultancy Company for Insurance and Financial Services Professionals

Searchlight is the UK's foremost provider of training for the insurance and financial services industry, covering the full range of technical, regulatory and soft skills needed by professionals operating in this dynamic business environment. Searchlight was the first organisation to receive...


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Contact information for Searchlight

Searchlight

Riverbridge House
Guildford Road
KT22 9AD Surrey

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www.searchlightsolutions.co.uk


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