DESCRIPTION
This module will uncover what business interruption insurance is, and its significance in the commercial world. Delegates will explore a vast arrange of scenarios that hinder the insured following a loss, and how the policy should respond to support the insured in the event of such loss.
The course will explore ways on how the insurer is able to support the insured through difficult times, offer a lifeline to the business and upload the principle of indemnity. Finally, the course explores the benefits that common extensions hold.
OBJECTIVES
- Identify the correct cover basis of business interruption
- Understand the factors when setting the sums insured
- Recognise events that will affects the length of the indemnity period
- Explain the consequences of not having appropriate covers in place when a loss occurs
- Explain how policy extensions can benefit the insured
