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| Financial Litigation Clinic—Business Interruptions and Lost Profits (163C) |
Course CPE: 14 hours
Field(s) of Study: Accounting–6; Business Law–2; Economics–4; Finance–2
Program Level: Basic
Prerequisites: Previous training or experience with the fundamentals of accounting, finance, economics, and business writing.
Delivery Method: QAS Self-Study
Advanced Preparation: None
A Certificate of Educational Achievement (CEA) will be awarded to course attendees for each Financial Litigation Clinic who successfully complete and pass the exam.
Purchasers also receive a copy of Measuring Business Interruption Losses and Other Commercial Damages: An Economic Approach, 3rd Edition with free domestic shipping. Please select hardbound or eBook format. |
Item
Number: 19FL1014BILP-14
Shipping Weight: 0lbs. 0oz. |
| Price:
$870.00 |
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Part I—Planning the Business Interruption Engagement
This part discusses who can represent the insured in a business interruption loss claim and why. We will discuss the beginning stages of the business interruption loss claim engagement from initial contact with the adjuster and the insured, gathering data, site visits, as well as discussing and deciding on the insured’s best plan of action during the period of restoration.
After completing the course, attendees will be able to:
- Determine who can and who cannot work directly with the insured and why on a business interruption loss claim
- Identify what items to discuss with and what documents to get from the public adjuster
- Identify what items to discuss with and what documents to get from the insured
- Identify expectations and deadlines with the insured
Part II—Business Interruption Policy Differences
Business interruption claims can vary drastically due to the type of damage and company involved. In many cases, the policy itself determines how the damage claim will be determined and how the policyholder should proceed. This part will discuss the relevant policy language and what it means to the policyholder as well as the financial expert when determining damages.
After completing the course, attendees will be able to:
- Interpret relevant business interruption policy language
- Determine whether a policy covers extra expense
- Identify how the policy will impact the policyholder during the damage period
Part III—Period of Restoration
In many cases, damages exist during the period of restoration. This part focuses on how to determine the period of restoration, the damage period, as well as an overview of how damages will be determined.
After completing the course, attendees will be able to:
- Identify the time period covered by the period of restoration
- Identify top down and bottom up damage calculations
- Differentiate what is covered during the damage period or extended damage period
Part IV—Types of Business Interruption Calculations
This part discusses the two methods of business interruption loss claim calculations, how they are calculated, and their differences. We will discuss the definition of extra expenses and learn to identify which extra expenses are acceptable and unacceptable in a business interruption/extra expense claim. We will go through a case study using both the Net Income and Gross Profit Methods of business interruption/extra expense calculations.
After completing the course, attendees will be able to:
- Identify and describe the two methods of business interruption loss claim calculations
- Distinguish the differences between the two methods of business interruption calculations
- Identify what are extra expenses
- Distinguish the difference between acceptable and non-acceptable extra expenses in the business interruption claim
- Calculate the business interruption/extra expense loss using both the Net Income and Gross Profit Methods
Part V—Business Interruption Claims
Business interruption claims occur frequently throughout the country due to natural disasters and other covered causes. Learn about the opportunities to assist with business interruption claims, the extent of losses from recent natural disasters, and how financial experts have become involved in these engagements.
After completing the course, attendees will be able to:
- Identify common business interruption opportunities
- Identify the relevant damages based on the impact of common natural disasters
- Determine ways to serve as a financial damage expert in business interruption claims
Part VI—Impact of COVID-19 to Business Interruptions and Lost Profits
COVID-19 has had a significant impact on business interruptions and lost profits practices. This sessions provides information on these issues.
After completing the course, attendees will be able to:
- Identify COVID-19 business interruption issues
- Choose the relevant issues practitioners must be aware of in this area
Part VII—Q&A Session on Business Interruptions and Lost Profits
COVID-19 has had a significant impact on business interruptions and lost profits practices. This sessions provides information on these issues through a question and answer session with the subject matter experts.
After completing the course, attendees will be able to:
- Identify COVID-19 business interruption issues
- Choose the relevant issues practitioners must be aware of in this area
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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