BUSINESS INTERRUPTION
|
|
- Iris Pope
- 6 years ago
- Views:
Transcription
1 Robert M. Swift cpcu cipa cbcp ccm Business Interruption Consultants, inc. Michael Gardner, CPA The Claro Group, LLP Forrest Artz Director of Finance Memphis Shelby County Airport
2 BUSINESS CONTINUITY PLANNING Robert M. Swift cpcu cipa cbcp ccm Business Interruption Consultants, inc.
3 BUSINESS CONTINUITY PLANNING Survival document Basis of risk management plans Identifies period of restoration Quantifies business income probable loss and extra expense need
4 BUSINESS CONTINUITY PLANNING Strategy Business impact analysis Back ups and alternatives Return time objective Return point objective
5 PROPERTY INSURANCE Financing (insurance) Buildings Equipment Contents Income loss and expenses
6 PROPERTY INSURANCE Replacement cost Deductible regular and special Waiting period Machinery breakdown electrical arcing, HVAC, etc.
7 BUSINESS INCOME COVERAGE Actual loss of income due to suspension of operations from a covered peril at described premises. Contingent business income will pay actual loss sustained due to suspension of operations for a covered peril at a third party s premises.
8 BUSINESS INCOME INSURANCE Business income worksheet Revenue lost or deferred Extra expenses Payroll Period of restoration Extended period
9 Revenues landing fees, rental, concessionaires, other $25,000,000 Minus Discontinuing expenses direct, other $6,000,000 Plus Extra expenses temp facilities, transportation, incentives, other $5,000,000 Minus Payroll to be excluded- n/a total $24,000,000 Period of restoration 3 months (25%) 6,00,0000 Extended period of restoration 3 months (25%) 6,000,000 $12,000,000
10 CLAIMS Hire a bi specialist not CPA generalist Increase your professional fees coverage limit Implement your plan, don t wait for the adjuster
11 CLAIMS Calculate and present your claim Have enough cash flow for six months claim adjustment.
12 BE PREPARED AND BE PROTECTED.
13 Preparing Your Claim Michael Gardner, CPA
14 Documenting Your Claim Where Do You Start? Read your policy Review deductibles and reported values Make sure you understand the cause of your losses Most policies require that losses be calculated on an Actual Loss Sustained basis Establish a claim team to help compile and document the claim This will require resources from throughout the organization Establish a project code(s) to accurately capture your costs incurred in responding to the loss Consider how best to use technology to document your claim Open a dialog with your adjuster 14
15 What Triggers Business Interruption Coverage? Insured Property BI CHAIN 15
16 How long can a policyholder claim business interruption losses? Property Repair & Replacement P O I Time Element Period of Indemnity 16
17 What are the major drivers of business interruption losses? Length of Compensable Interruption Possible Extended Period of Indemnity Projection of But For Revenues Extra Expense Expenses to Mitigate Loss Possible Saved Expenses 17
18 What should a policyholder consider when calculating Actual Loss Sustained? Basis of Projection of But For Revenues Delayed Sales (e.g. concessions) Make-up of Lost Sales No Coverage for Unabsorbed Fixed Costs Idle Periods / Seasonality of Revenue Construction in Progress 18
19 Documenting Your Loss Financial results for last 2 years Latest Pre-Loss Projections Historic Budget to Actual results for last 2 years Business Plan For Next Year (LTO estimates, etc.) Correspondence with Customers (Air Carriers) Saved Expenses (Variable v. Fixed Expenses) 19
20 Common Claim & Coverage Issues Possible Property Damage Claim Issues Replacement Cost v. Actual Cash Value Advances in Technology Changes in Building Codes Post-loss What if you do not go Back with the Same Design? Use of Internal Resources on Rebuild Are they Covered? Possible Salvage Issues related to Temporary Production Other Potentially Available Coverages Contingent Business Interruption Ingress/Egress Civil Authority Utility Service Interruption Claim Preparation Expense 20
Business Interruption Coverage and Extra Expenses
Business Interruption Coverage and Extra Expenses Wanda Grau Auxiliary Vice President of Sales Cooperativa de Seguros MĂșltiples de Puerto Rico Ojel Rodriguez Advisory Partner Kevane Grant Thornton LLP
More informationAMERICAN BAR ASSOCIATION, SECTION OF LITIGATION, INSURANCE COVERAGE LITIGATION COMMITTEE
AMERICAN BAR ASSOCIATION, SECTION OF LITIGATION, INSURANCE COVERAGE LITIGATION COMMITTEE CHECKLISTS FOR PROPERTY DAMAGE AND BUSINESS INTERRUPTION CLAIMS As a result of Hurricane Harvey and its aftermath,
More informationBusiness Interruption Losses from Hurricane Harvey Have Started: Billions of Dollars of Insurance Claims Expected
Business Interruption Losses from Hurricane Harvey Have Started: Billions of Dollars of Insurance Claims Expected BY SCOTT A. BARNES, CPA, CFF, CGMA specializes in assisting policyholders in developing
More information15 of the 30 costliest hurricanes in US history have occurred in the last 10 years. Each of the 15 storms caused more than $1 billion in damages
15 of the 30 costliest hurricanes in US history have occurred in the last 10 years. Each of the 15 storms caused more than $1 billion in damages Wind Are you covered? Wind Deductible This deductible is
More informationMHEC MASTER PROPERTY PROGRAM BUSINESS INTERRUPTION VALUE REPORTING. March 8, 2018
MHEC MASTER PROPERTY PROGRAM March 8, 2018 David Letzelter Senior Vice President Thom Smith Assistant Vice President BI Introduction to business interruption coverage Calculating the business interruption
More informationLesson 5 Basics of Time Element Insurance
Lesson 5 Time Element Intro p1 (IP) Lesson 5 Basics of Time Element Insurance Time element exposures occur when there is a loss of income or increase in operating expenses that result due to a direct loss
More informationLesson 5 Basics of Time Element Insurance - Introduction
Lesson 5 Basics of Time Element Insurance - Introduction Time element exposures occur when there is a loss of income or increase in operating expenses that result due to a direct loss from a peril and
More informationHURRICANE SEASON: SMALL BUSINESS DISASTER READINESS CHECKLIST
HURRICANE SEASON: SMALL BUSINESS DISASTER READINESS CHECKLIST WELCOME In Louisiana and throughout the southeast region, business owners must be aware of the threats posed during hurricane season. According
More informationHow do I determine my Business Income/Extra Expense Insurance Needs?
What is Business Income Insurance? Your business is your livelihood. Consider a fire that destroys your manufacturing facility or office complex. Your property insurance would respond to the loss of your
More informationADDITIONAL COVERAGE - BUSINESS INCOME (AND EXTRA EXPENSE)
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL COVERAGE - BUSINESS INCOME (AND EXTRA EXPENSE) This endorsement modifies insurance provided under the following: DIFFERENCE IN
More informationPROTECTING BUSINESS INCOME: CONTINGENT BUSINESS INTERRUPTION INSURANCE AND THE EVOLUTION OF TIME ELEMENT COVERAGES. August 2012.
PROTECTING BUSINESS INCOME: CONTINGENT BUSINESS INTERRUPTION INSURANCE AND THE EVOLUTION OF TIME ELEMENT COVERAGES August 2012 PROTECTING BUSINESS INCOME: CONTINGENT BUSINESS INTERRUPTION INSURANCE AND
More informationWHITE PAPER. Disaster and Business Interruption Coverages. in the Aftermath of Katrina
WHITE PAPER Disaster and Business Interruption Coverages in the Aftermath of Katrina by Richard P. Lewis (212) 278-1822 rlewis@andersonkill.com and Jean M. Farrell (212) 278-1222 jfarrell@andersonkill.com
More informationELECTRONIC COMMERCE (E-COMMERCE)
POLICY NUMBER: BUSINESSOWNERS BP 05 94 01 06 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ELECTRONIC COMMERCE (E-COMMERCE) This endorsement modifies insurance provided under the following:
More informationr Do You Know? The BOP is great but...
Education ProgramS r Do You Know? The BOP is great but... sponsored by Do You Know The BOP is Great. but with Irene Morrill, CPCU, CIC, ARM, CRM, CRIS, LIA, CPIW Vice President of Technical Affairs Massachusetts
More informationBUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM
COMMERCIAL PROPERTY CP 00 30 06 95 BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and
More informationBUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM
COMMERCIAL PROPERTY CP 00 30 10 00 BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and
More informationSME BUSINESS INTERRUPTION WEBINAR SERIES
SME BUSINESS INTERRUPTION WEBINAR SERIES Webinar 2 How we approach Business Interruption cover in SMEs! Chris Graves National Underwriting Manager - SME April 2016 WEBINAR 1 RECAP What does Business Interruption
More informationIrene Morrill, CPCU, CIC, ARM, CRM, CRIS, LIA, CPIW Vice President of Technical Affairs
TECH TALK Dwelling Fire v. BOP for Rental Properties... Is there a difference? Irene Morrill, CPCU, CIC, ARM, CRM, CRIS, LIA, CPIW Vice President of Technical Affairs January 2016 I am periodically asked
More informationHibbs Hallmark & Company 6750 Hillcrest Plaza Dr. Suite 219 Dallas, TX Direct Toll Free (877) x2920
Hibbs Hallmark & Company 6750 Hillcrest Plaza Dr. Suite 219 Dallas, TX 75230 Direct 972-354-2920 Toll Free (877) 476-7436 x2920 Professional Designations: Associate Underwriting Designation Associate Risk
More informationManaging Major Property Losses Sample Action Plan
Managing Major Property Losses Sample Action Plan To: All Department Managers From: Risk Management Following the catastrophic loss of it is our responsibility to prevent further damage, investigate cause,
More informationEye on disaster recovery
Eye on disaster recovery Insights on disaster recovery through insurance and federal grants Issue #2 February 2016 2 Eye on disaster recovery A message from Allen Melton, Partner, Americas Practice Leader,
More informationCommercial Insurance
Customarq Package Commercial Insurance Barb Sandelands EVP, Package Manager, Commercial Insurance Chubb s Package approach provides flexibility to tailor insurance solutions to meet the individual needs
More informationBUSINESS INTERRUPTION
B u s i n e s s I n t erruptio n C a l culation Guide 1. G R O S S P R O F I T - D I F F E R E N C E M E T H O D Gross Profit is defined as the amount by which the sum of - a) the turnover and the amount
More informationBUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM
COMMERCIAL PROPERTY CP 00 30 10 12 BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and
More informationSupply Chain Risk Management. Willis Latin America Energy Conference October 10, 2012
Supply Chain Risk Management Willis Latin America Energy Conference October 10, 2012 Session Overview Traditional view of Business Interruption (BI), Contingent Business Interruption (CBI) & Extra Expense
More informationInsurance Recovery for Losses Related to Hurricane Irma
Insurance Recovery SEPTEMBER 2017 Insurance Recovery for Losses Related to Hurricane Irma Insurance for Property Damage and Business Interruption Losses Businesses and communities throughout Florida, the
More informationBUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM
POLICY NUMBER: COMMERCIAL PROPERTY BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties what
More informationBusiness Income EXECUTIVE SUMMARY: What s The Big Picture? Why Should I Care? What s The Solution? From The Desk Of Bob Jones
From The Desk Of Bob Jones Business Income EXECUTIVE SUMMARY: most businesses that do not survive after a major Property loss fail because of the ensuing loss of income. What s The Big Picture? In the
More informationSME BUSINESS INTERRUPTION WEBINAR SERIES
SME BUSINESS INTERRUPTION WEBINAR SERIES Webinar 1 What does Business Interruption cover mean to your customers Chris Graves National Underwriting Manager - SME March 2016 WEBINAR SERIES - OBJECTIVES At
More informationPremises Coverages 3. Additional Coverages 4. Limits Of Insurance 6. Waiting Period 6. Loss Determination 6. Loss Payment Limitations 7
Rental Income Table of Contents Section Page No. Premises Coverages 3 Additional Coverages 4 Limits Of Insurance 6 Waiting Period 6 Loss Determination 6 Loss Payment Limitations 7 Conditions (Including
More informationBUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM
COMMERCIAL PROPERTY CP 00 30 04 02 BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and
More informationNew Developments Summary
October 9, 2017 NDS 2017-06 New Developments Summary Natural disasters and other loss events Accounting and financial reporting considerations Summary The financial implications of natural disasters and
More informationUnderstanding Business Income and Extra Expense
Professional Insurance Agents of NC-Provider#: 16241 Instructor: Chris McLeod CPCU,CIC,ARM,AIM,AAI,AU,AIP,CRIS,AINS,CISR,CPIW Course #: 205631 3.0 Hours NC General CE Copyrighted material (07/2016) of
More informationTime Outline: 150 TOTAL MINUTES OF INSTRUCTION = 3 HOURS OF CE CREDIT (50 minute of instruction + 10 minute break per hour)
The Dirty Dozen Course Description: Analyze twelve significant commercial subjects and discover the facts. Discover the details on how coverage can vary significantly, depending on which edition of the
More informationOFF-PREMISES INTERRUPTION OF BUSINESS VEHICLES AND MOBILE EQUIPMENT
POLICY NUMBER: COMMERCIAL PROPERTY CP 15 06 02 14 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. OFF-PREMISES INTERRUPTION OF BUSINESS VEHICLES AND MOBILE EQUIPMENT This endorsement modifies
More informationGeoVera Specialty HO3: Common Coverage Questions for Hurricane losses. Evacuation Expense - Additional Living Expenses No Direct Damage
GeoVera Specialty HO3: Common Coverage Questions for Hurricane losses Special Note Please Read This information is for general information only. The insurance policy and endorsement forms, not this document,
More informationThe Fundamentals of Commercial Property Insurance Coverage:
The Fundamentals of Commercial Property Insurance Coverage: Key Strategies and Insight for Reading and Interpreting Policies Jeremiah M. Welch Saxe Doernberger & Vita, P.C. Stephen O. Clancy Robinson &
More informationIn the Wake of Catastrophe: Navigating Business Income Losses
In the Wake of Catastrophe: Navigating Business Income Losses Todd Burchett, CPA/ABV, ASA, CFF, CFE Partner tburchett@bkd.com Keith Seiffert, CPA, CFE Managing Consultant kseiffert@bkd.com October 11,
More informationCoverage on the Move: Business Interruption for Agricultural Equipment
Coverage on the Move: Business Interruption for Agricultural Equipment #IRMI2017 Until recently, standard policy forms could cover the actual cash value loss of agricultural and farm equipment. Beyond
More informationPROPOSAL FORM. Bajaj Allianz General Insurance Company Limited MACHINERY LOSS OF PROFIT PUT A MARK WHEREVER APPLICABLE P
Bajaj Allianz General Insurance Company Limited P - 0421 - MACHINERY LOSS OF PROFIT PROPOSAL FORM (The liability of the Company does not commence until this proposal has been accepted by the Company and
More informationCOMPREHENSIVE COMMERCIAL PACKAGE SMALL AND MEDIUM ENTERPRISE. rsabroker.ca
COMPREHENSIVE COMMERCIAL PACKAGE SMALL AND MEDIUM ENTERPRISE THE RSA ADVANTAGE With best-in-class ambitions, the RSA Advantage represents how, together, we win. Access to the deep technical expertise of
More informationBusiness Interruption Insurance
Business Interruption Insurance Daina Kojelis Zurich in North America Casualty Actuarial Society Annual Meeting November, 2010 ! The statements and opinions expressed in this presentation are the sole
More informationPower Failures, Floods, and Earthquakes: Business Interruption and Extra Expense Coverage From the Policyholder s Perspective
Power Failures, Floods, and Earthquakes: Business Interruption and Extra Expense Coverage From the Policyholder s Perspective Erica J. Dominitz Carl A. Salisbury 2013 Kilpatrick Townsend Overview Preliminary
More informationDEMYSTIFYING INSURANCE
DEMYSTIFYING INSURANCE FOR COMMUNITY ORGANISATIONS Presented By Mark Fredericks & Brendon Durrant of Insurewest Pty Ltd General Advice Warning This advice does not take into account any of your particular
More informationFUNCTIONAL REPLACEMENT COST VALUATION BUILDINGS
This endorsement changes the Property Coverages provided by this policy Page 1 of 5 -- PLEASE READ THIS CAREFULLY -- FUNCTIONAL REPLACEMENT COST VALUATION BUILDINGS (Entries required to complete the Schedule
More information& Valuation. Litigation BRIEFING. Damage control Surviving a business interruption. In valuation, timing is everything. Estate wins the discount war
JULY/AUGUST 2009 & Valuation Litigation BRIEFING Damage control Surviving a business interruption Nonqualified deferred compensation Independent appraisals offer protection against 409A challenge In valuation,
More informationWe have also provided a FAQ document with answers to questions we anticipate you ll receive.
Producer Bulletin Underwriting response to California Wildfires For: All Agents & Brokers Effective: Immediately November 1, 2017 Dear Agency Partner, In response to recent wildfires that occurred in California
More informationCOMMERCIAL 1. General. Fire and Allied Perils (buildings, contents, machinery and stock-in-trade)
COMMERCIAL 1 Sometimes in business, it seems that what can go wrong, does go wrong. Luckily, commercial insurance can help you plan for every eventuality. We offer invaluable protection against theft,
More informationZurich Canada Builders Risk. New Forms and Enhancements
Zurich Canada Builders Risk New Forms and Enhancements A clearer, stronger Builders Risk offering What s changing? We are introducing two new base coverage forms to meet changing market demands and the
More informationEXTRA EXPENSE COVERAGE FORM
EXTRA EXPENSE COVERAGE FORM COMMERCIAL PROPERTY CP 00 50 10 12 Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and what is and is not covered.
More informationSuccessfully Managing Property Losses
Successfully Managing Property Losses Deductibles First $25,000 is the College s or Dept. s obligation $25,001 to $250,000 is the University s obligation $250,001 to $1,000,000,000 is actual insurance
More informationTable of Contents. Underwriting Property Risks...4 The National Underwriter Company Coverage Guides...6
Table of Contents Introduction: The Building and Personal Property Coverage Form, CP 00 10...1 ISO Building and Personal Property Coverage Form, CP 00 10...1 Property Coverage Forms...3 ISO Rules...3 Underwriting
More informationPURCHASING DEPARTMENT
PURCHASING DEPARTMENT The bid listed below has had addenda issued. Documents are available over the Internet at http://www.norwalkct.org Adobe Acrobat reader is required to view this document. If you do
More informationWednesday, March 2, 2016 Houston, TX. 9:30 11:00 a.m. MANAGING AND RESOLVING THE BUSINESS INTERRUPTION CLAIM
Wednesday, March 2, 2016 Houston, TX 9:30 11:00 a.m. MANAGING AND RESOLVING THE BUSINESS INTERRUPTION CLAIM Presented by David Goodwin Partner Covington & Burling Mark O Rear Managing Director Navigant
More informationCommercial Coverage For
Customarq Series Commercial Coverage For Participating members of the Prospectors and Developers Association (See Form 80-02-1408) Producer: Partners Indemnity - PDAC Affinity Group 10 Adelaide Street
More informationPreparing in Advance for a Natural Disaster: Insurance Coverage Issues and Tips for Companies Dealing with Such Losses
ACC CONFERENCE Preparing in Advance for a Natural Disaster: Insurance Coverage Issues and Tips for Companies Dealing with Such Losses November 9, 2017 Selena J. Linde, Perkins Coie LLP Vivek Chopra, Perkins
More informationDisaster Recovery Resources for Health Centers Obtaining Federal Emergency Management Agency (FEMA) Funding for Damaged or Destroyed Facilities
Disaster Recovery Resources for Health Centers Obtaining Federal Emergency Management Agency (FEMA) Funding for Damaged or Destroyed Facilities Updated October 12, 2017 Prepared by Disaster Recovery Resources
More informationBusiness Income And Expense Worksheet
BUSINESS INCOME AND EXPENSE WORKSHEET DOWNLOAD business income and expense pdf Deducting Business Expenses. Chapter 2. Employees' Pay. Chapter 3. Rent Expense. Chapter 4. Interest. Chapter 5.... Chapter
More informationCoverage Issues for Catastrophic Events
Tracy Alan Saxe Saxe Doernberger & Vita, P.C. Christopher M. Brophy FTI Consulting Donna Stone GDF Suez Energy N.A. Paul McVey Marsh USA Inc. Denia S. Aiyegbusi Porteous Hainkel & Johnson Coverage Issues
More informationBusiness Interruption Training Series
Business Interruption Training Series Webinar Module 1 What is Business Interruption Insurance? An Introduction 19 April 2017 1 Introduction Welcome The Steadfast / MSM Webinar Series The Presenters Reference
More informationBusiness Interruption Insurance Coverage An Overview PAUL D. POUSSON, ARM, DRM MAY 11, 2017 AREA SENIOR VICE PRESIDENT
Business Interruption Insurance Coverage An Overview PAUL D. POUSSON, ARM, DRM MAY 11, 2017 AREA SENIOR VICE PRESIDENT Today s Agenda Business Interruption - What is it? Some Business Interruption Coverages
More informationTable of Contents. Introduction: The Building and Personal Property Coverage Form CP
Table of Contents Introduction: The Building and Personal Property Coverage Form CP 00 10...1 Property Coverage Forms...3 ISO Rules...3 Underwriting Property Risks...5 The National Underwriter Company
More informationCatastrophe Models: Learning from Superstorm Sandy
Catastrophe Models: Learning from Superstorm Sandy January 2013 Lockton Companies Although Superstorm Sandy was only a Category 1 hurricane, it made landfall on October 29 as the largest Atlantic hurricane
More informationNCJUA/NCIUA INDEPENDENT ADJUSTER INFORMATION
NCJUA/NCIUA INDEPENDENT ADJUSTER INFORMATION COVERAGE INFORMATION 1. Coverage is placed in the FAIR Plan or Beach Plan when a policyholder has been unable to secure coverage in the voluntary market. 2.
More informationBUSINESS INCOME (WITHOUT EXTRA EXPENSE) COVERAGE FORM
COMMERCIAL PROPERTY CP 00 32 10 12 BUSINESS INCOME (WITHOUT EXTRA EXPENSE) COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties
More informationFinancial Risk. Operational Risk. Strategic Risk. Compliance Risk. Chapter 2 Risk management. What is risk?
Chapter 2 Risk management What is risk? Business risk is a circumstance or factor that may have a significant negative impact on the operations or profitability of a given business. Business risk can result
More informationThe Business behind Business Interruption:
The Business behind Business Interruption: Applying Due Diligence to Business Interruption Claims By Scott E. Bushnell, CPA, CFF One of the most challenging aspects of commercial property and casualty
More informationIf we knew this, our jobs would be easy
Mass shooting incident Cyber attack Terrorist attack Building failure Aircraft collision Runway collapse Major storm event Chemical/Biological attack Hostage Taking Utilities Disruption If we knew this,
More informationPolicyholder Insurance Webinar Series: Covering Hurricane Loss for Commercial Insureds
Policyholder Insurance Webinar Series: Covering Hurricane Loss for Commercial Insureds October 19, 2017 Presented by: Katherine J. Henry & G. Benjamin Milam Bradley Arant Boult Cummings LLP Attorney-Client
More informationOur Mission. About Us. Osprey Insurance Broker C Comprehensive Hotel Insurance Services
Hotels Insurance Osprey Insurance Brokers is an industry leader in the provision of innovative and comprehensive hotel insurance. We lead the insurance industry in providing extensive and all-inclusive
More informationProperty Performance Policy Summary of 2017 Coverage Enhancements
AIG s Property Performance provides advanced, broad, all-risk property damage and business interruption coverage for midsize risks in a concise form. Recently enhanced with broadened coverages including
More informationHurricane Recovery Resources for Health Centers Obtaining Federal Emergency Management Agency (FEMA) Funding for Damaged or Destroyed Facilities
Hurricane Recovery Resources for Health Centers Obtaining Federal Emergency Management Agency (FEMA) Funding for Damaged or Destroyed Facilities Hurricane Irma- Florida Updated October 12, 2017 Prepared
More informationInsurance Handbook for VHFA-financed rental housing contains the following: 1) Insurance coverages and limits that are required by VHFA;
INSURANCE HANDBOOK Insurance Handbook for VHFA-financed rental housing contains the following: 1) Insurance coverages and limits that are required by VHFA; 2) Insurance coverages that are recommended by
More informationConsequential Loss (Machinery) Insurance A knowledge share initiative of Salasar Services (Insurance Brokers) Pvt. Ltd.
Consequential Loss (Machinery) Insurance A knowledge share initiative of Salasar Services (Insurance Brokers) Pvt. Ltd. INTRODUCTION MLOP insurance indemnifies the actual loss of gross profit sustained
More informationThe Panel. Tom Malia Joseph Rizzo Jess Millikan Katharyn Thompson
Introduction The Panel Tom Malia Joseph Rizzo Jess Millikan Katharyn Thompson 71% of businesses experienced power outages 56% of businesses experienced a loss of connectivity 52% of businesses experienced
More informationLessons Learned from the 2017 Hurricane Season
Lessons Learned from the 2017 Hurricane Season DFS Course ID # 104268 Two (2) Hours of Continuing Education Credit General Lines Property and Casualty Presented by: Wm. Keith Jones, CPCU, CLU, ChFC, CASL,
More informationPaul May LLB, MBA, FCII, FCILA, ADipC, DipAIS, ELAE, MAE, MCIArb FIFAA. Chairman Concordia Consultancy Ltd
Scope of B.I. Coverage 19 th April 2006 Scope of B.I. Coverage Paul May LLB, MBA, FCII, FCILA, ADipC, DipAIS, ELAE, MAE, MCIArb FIFAA Chairman Concordia Consultancy Ltd www.concordiaconsultancy.com Scope
More informationIntroduction to Business Interruption Insurance. Uninsured Expenses in BI Policies
Introduction to in BI Policies The Gross Profit items are the key components of most Business Interruption ( BI ) policies and because they are largely pre-printed, few decisions are required of brokers
More informationCAMBRIDGE PROPERTY & CASUALTY SPECIAL REPORT
CAMBRIDGE PROPERTY & CASUALTY SPECIAL REPORT STRAIGHT TO THE BOTTOM LINE RISK MANAGEMENT This Special Report was written by Kenneth R. Hale, J.D., CPCU, AAI, LIC. Mr. Hale is Chairman of Cambridge Property
More informationBECKER MEISEL ATTORNEYS AT LAW
BECKER MEISEL ATTORNEYS AT LAW FALL 202 NEWS ALERT Hurricane Sandy Disaster Relief Guide The impact of Hurricane Sandy on the area and our clients has been severe. In an effort to assist our impacted clients,
More informationLandlords Package Policy. Let Allstate help you protect your property and your investment. D8643-2
Landlords Package Policy Let Allstate help you protect your property and your investment. D8643-2 A landlord s job is never done. The right insurance can help. Being a landlord can be tough. You have to
More informationThe Four KEY Business Income Concepts
The Four KEY Business Income Concepts Thursday, February 28, 2013, 8:30 a.m. Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Director of Education Insurance Journal Academy of Insurance
More informationThe General Pension Plan of the International Union of Operating Engineers Part I
The General Pension Plan of the International Union of Operating Engineers Part I SUMMARY PLAN DESCRIPTION 2012 INTERNATIONAL UNION OF OPERATING ENGINEERS GENERAL PENSION PLAN I (for Full-Time Officers
More informationCOMMERCIAL PACKAGE POLICY COVERAGES WITH CONTRACTOR SHIELDSM
contractor shield sm COMMERCIAL PACKAGE POLICY COVERAGES WITH IMPACT CONTRACTOR SHIELDSM For decades, Federated insurance products have been designed specifically for contractors to manage the risks and
More informationHurricanes Irma and Maria- Puerto Rico and the U.S. Virgin Islands
Hurricane Recovery Resources for Health Centers Obtaining Federal Emergency Management Agency (FEMA) Funding for Damaged or Destroyed Facilities Hurricanes Irma and Maria- Puerto Rico and the U.S. Virgin
More informationPROPERTY INSURANCE PRE-LICENSING PEARSON VUE 2016 CONTENT OUTLINE CHANGES
An Illinois Certified Course Provider Since 1987 Phone: Office: 847-455-1130 Fax: 847-455-1153 Website: www.dohrnit.com Dohrn Insurance Training, Inc. 8517 Grand Avenue Pre-licensing and Ethics Classes
More informationBusiness Interruption Coverage for Vehicles and Mobile Equipment
Business Interruption Coverage for Vehicles and Mobile Equipment Loss Exposures Covered Business income (BI) Extra expense (EE) Extended business income (EBI) Basic Requirements for Coverage to Apply Loss
More informationVolcanic ash is it insurable?
Volcanic ash is it insurable? Airports Council International Insurance and Risk Management Conference Atlanta, Georgia 13 January 2011 Mark Meyer, London Partner (Head of Aviation and Space Group) e: MMeyer@eapdlaw.com
More informationRisk Solutions. TechAdvantage. The new equipment breakdown standard. The Boiler Inspection and Insurance Company of Canada
Risk Solutions TechAdvantage The new equipment breakdown standard The Boiler Inspection and Insurance Company of Canada Technology transforms exposures and risk We live and work in a world where technological
More informationCOLUMBIA INSURANCE COMPANY
Truck Application COLUMBIA INSURANCE COMPANY NATIONAL FIRE & MARINE INSURANCE COMPANY NATIONAL INDEMNITY COMPANY NATIONAL INDEMNITY COMPANY OF MID-AMERICA NATIONAL INDEMNITY COMPANY OF THE SOUTH NATIONAL
More informationSeptember 2013 Flood Devastation, Coverage, and Loss Adjusting Considerations
September 2013 Flood Devastation, Coverage, and Loss Adjusting Considerations Presented by: Skyler Rorabaugh, CPRP/CPSI/AFO/Executive Director - Estes Valley Recreation & Park District Joe DePaepe, CPCU/CIC/Sr.
More informationHeld 212. in charge. attacks. and Hurricane. income. from the. survival. Soon as Possible. Interruption. customers may lose. Group.
Held, Kranzler, McCosker & Pulice LLP Certified Public Accountants 212. 533.2727 wwww.hkmp.com Major disasters, such as the September 11 terrorist attacks and Hurricane Katrina, grab the headlines, but
More informationA package designed specifically for motor garages who are members of the Society of Irish Motor Industry - SIMI.
SIMI Scheme Insurer Aviva Insurance Limited KEY COVER FEATURES A package designed specifically for motor garages who are members of the Society of Irish Motor Industry - SIMI. Material Damage (Mandatory)
More informationCoastal Select Insurance Company Residential Windstorm-Hurricane (Form Number CS HU D003) Common Coverage Questions for Hurricane Losses
Special Note Please Read This information is for general information only. The insurance policy and endorsement forms, not this document, define the terms of coverage. All claims have unique facts and
More informationBusiness Interruption! Best Practice:! A Forensic Accounting Perspective!
Business Interruption Best Practice: A Forensic Accounting Perspective Daniel Thorpe, Director MDD Dubai 5 March 2014 Agenda Firm Overview and Area of Expertise Business Interruption Best Practice Scenario
More informationBusiness Interruption Values & Exposures
Business Interruption Values & Exposures Identifying, Communicating & Differentiating Your Risk Bill Warren, CPA, CGMA, Partner Bob Kirchmeier, Director of Business Development Atlanta Annual Educational
More informationNEIS Business Insurance Checklist. Produced by BizCover July 2018
NEIS Business Insurance Checklist Produced by BizCover July 2018 NEIS Business Insurance Checklist YOU HAD A GREAT IDEA FOR A NEW BUSINESS. YOU VE PUT COUNTLESS HOURS AND BUCKET LOADS OF EFFORT INTO CREATING
More informationDIMENSIONS. A CPA s Report to the Construction Industry. RECOGNIZE...PRIORITIZE...MITIGATE Managing Risks During Recovery
DIMENSIONS A CPA s Report to the Construction Industry RECOGNIZE...PRIORITIZE...MITIGATE Managing Risks During Recovery The signs of economic recovery are still uneven, with some areas of the country and
More informationUNDERWRITING GUIDELINES FOR TECHNOLOGY OFFICE SEGMENT
UNDERWRITING GUIDELINES FOR TECHNOLOGY OFFICE SEGMENT Local exceptions to these underwriting guidelines may apply. Please consult with your underwriter or sales executive for details and to discuss risks
More informationCommercial Property. Commercial Package Policy (CPP) The CPP is made up of:
Commercial Property... 2 Commercial Package Policy (CPP)... 2 Advantages to Packaging a Policy:... 2 The CPP is made up of:... 2 Coverage Parts... 2 The following are included on the CPP Common Declarations
More information