Business Interruptions Losses and Claims Workshop

Loss of Business Income claims (f/k/a business interruption claims) submitted as part of a business’ insurance coverage are nothing new. The first property insurance policies in the United States provided “U & O” coverage for damage due to fire and date back to 1732. Today property insurance can provide protection for fire, theft, earthquakes, and acts of terrorism. Some of the policies or endorsements provide coverage for lost business income in addition to actual property damage. Preparing claims for business income losses has become a growing market niche for professionals. Loss of Business income claims have received more attention in past years due to natural disasters including earthquakes on the West Coast, tornadoes in the Midwest, and hurricanes in the Southeast the devastation has dramatically increased the number of businesses that have suffered business interruptions. Claims from these natural disasters, in addition to fire and other property related interruption claims, have led to a demand for professionals with the knowledge to calculate business losses to be submitted to, or reviewed on behalf of, insurance companies. The three-day Business Interruptions Losses and Claims Workshop provides professionals with the fundamental skills required to evaluate and perform engagements with the necessary level of competence. The workshop is recommended for general practitioners with five years of general experience seeking to gain the fundamental skills to enter this practice niche. The focus in this workshop is on smaller firms with standard ISO insurance policy forms rather than larger companies with manuscript or manufacturing insurance policy forms. Practitioners will become familiar with the basic terms of a policy, learn how to identify key issues, and determine if they have the necessary resources to prepare a loss of business income claim.