BIBA webinar - The underinsurance gap – business interruption insurance presented by McLarens

The ramifications of getting the sum insured wrong when it comes to business interruption insurance BBII can be catastrophic for a business. Learn about factors to consider when helping clients to calculate the BII sum insured particularly in times of economic uncertainty. The topical professional negligence case Infinity Reliance Ltd v Heath Crawford Ltd highlights why it’s important for brokers to understand the mechanics of BII cover and to consider individual business circumstances. We will look at how to understand the differences in calculation between accounting and insured gross profit, the benefits of revenue cover and declaration linked policies appropriate extensions and clauses. 

Learning objectives:

Following this webinar delegates should be able to:

• Distinguish between insurable gross profit and accounting gross profit
• Communicate factors that impact the Maximum Indemnity Period and making sure this is adequate
• Outline industry and economic differences that can impact setting the appropriate sum insured
• Understand the benefits of declaration linked policies

Presenter: Louise Butcher

Louise Butcher is a forensic accountant with 20 years in the accounting profession and is DIP CILA qualified. She has extensive experience in the quantification of multi million pound financial losses across multiple sectors for insurance and legal purposes, acting for major insurers, reinsurers and lawyers. Louise is a business interruption specialist and has considerable experience across a wide range of sectors including hospitality, retail, manufacturing, engineering, energy and agriculture. She has worked on property damage losses, product recall, stock and liability claims, cyber, advanced loss of profits and DSU claims as well as giving evidence as expert witness.

Delegates participating in the accredited webinar can claim up to 1 CPD hour towards the CII member CPD scheme. A formal completion certificate will be issued for members attending and returning a feedback form.  

DISCLAIMER:

Our webinars are designed to give information and guidance and we aim to make them as accurate as we can at the time of presentation and recording. However, they may sometimes represent individual views and BIBA cannot guarantee, nor do they accept any responsibility or liability for, the accuracy or completeness of the content or for any loss which may arise from reliance on information contained within these presentations and recordings.