Business Interruption Insurance

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Business interruption insurance, also called “business income” insurance, is one of the most important and yet most widely misunderstood of all insurance coverages. Fact: We don’t need an extensive financial background or training to effectively explain how business interruption insurance works. Nothing could be further from the truth. After completing this course, you will know a lot about business interruption insurance and, specifically, the Profits Endorsement Form. From there, it is just a matter of communicating that information in a way that your prospects will understand.

This course is broken down into three components:

Component A – Component A – Introduction to Business Interruption Insurance

  • The Importance of Separate Business Interruption Insurance
  • Two Types of Business Interruption Endorsements
  • The Role of The Broker in The Sales Process.

Component B – Profits Endorsement Form: A Coverage Analysis

  • Indemnity Agreement
  • Section 6. Provisions (a)-(g)
  • Section 7. Premium Adjustment
  • Extensions of Coverage
  • Other Common Clauses

Component C – Profits Endorsement Form: A Coverage Analysis Continued

  • Indemnity Period – Duration of Coverage
  • Measure of Recovery
  • Payroll Option
  • Insured Standing Charges
  • Definitions

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