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Introduction to Business Interrutpion Insurance

07 March 2017

ACAL in collaboration with Ms. Liliane Baaklini is conducting a new training seminar on “ Introduction to Business Interruption Insurance” which will take place on the 7th & 8th of March 2017 between 01:30 and 5:00 PM in ACAL premises.

 

By the end of the workshop, participants will be able to:

 

1)     Define Business Interruption Insurance, its purpose and main features

2)     Understand BI terminology (Turnover, Variable charges, Standing charges, Net Profit, Gross Profit, Rate of Gross Profit, Reduction in Turnover, Annual Turnover, Standard Turnover, ICoW & Economic Limit, Indemnity Period and Maximum Indemnity Period, trends adjustment)

3)     Understand the difference between Increased Cost of working and Additional Increase in Cost of Working, Traditional BI and Declaration-Linked BI, Loss of Gross Profit and Loss of turnover/fees/loss of revenue/gross earning insurance

4)     Learn how to calculate the Gross Profit based on company accounts

5)     Learn how to set the indemnity period

6)     Learn the basics of calculating a claim settlement

7)     Interpret additional clauses such as Premium adjustment clause, Alternative Trading clause, Payment on account clause, Accumulated Stock clause,.

8)     Get a brief overview on Contingent Business Interruption extension and clauses (denial of access, suppliers and customers)

Who should participate?

Junior underwriters, underwriting assistants, junior claims personnel, sales, distribution and account executive staff in insurance companies and brokerage firms.

 

With 18 years’ experience in the Insurance Industry, Ms. Liliane Baaklini is the Managing Director of LEBA Group SARL, a consulting firm offering services focused primarily on the technical aspect of the operations within insurance companies and brokerage firms. Liliane is also currently teaching CII courses for certification in collaboration with LGU. 

Her previous experience includes managerial positions at Libano-Suisse SAL where she was Head of Research and Development and at Zurich Insurance where she held the role of Underwriting Manager.  
She holds a BA in Public Relations and Publicity from the Faculty of Information and Documentation and is an Associate of the Chartered Insurance Institute. - UK

 

Members interested in attending this training program are kindly requested to register before March 6  by logging in to the Training section on ACAL website.

 

The cost for this training program is 150 Dollars U.S. per participant.

 

 Looking forward for your participation.