Business Interruption Policy wordings - challenges highlighted by claims experience
In this joint IIL/CILA book relaunch Damian Glynn and Harry Roberts will say that we all know what 'contract certainty' means technically - that there needs to be a policy in existence at the start of the insurance, but when it comes to business interruption, we think it would be a good idea to take the concept of contract certainty a little further.
The concern is that there as been a lack of clarity for a long time now - for insurers, adjusters and customers - over certain aspects of BI policies. For example, there is often a big difference between the technical meanings for words in a policy and the way those words are used in everyday business.
The Chartered Institute of Loss Adjusters and the Insurance Institute of London joined forces and in October 2012 published a book looking at the issues. Earlier this year, the Chartered Insurance Institute's Society of Claims Professionals asked us to refresh the book which is being re-launched at this event.
By the end of this event members would have gained an insight into:
- The changes we've noted since 2012
- The remaining areas in most urgent need of further improvement
- Why wider adoption of our recommendations would benefit everyone
Registration & Security
IIL lectures are open to CII and PFS members
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For lectures held in The Old Library, Lloyd's pass holders may also attend and do not need to register
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3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.