Business Interruption Insurance – Coverages & Quantification
By Jason G. Smith
Jason G. Smith is Lawyer and Public Adjuster with Pythe Navis MDP.
1.0 Technical Credit for Level 1, 2, and 3 General Insurance Agents and Salespersons.
To qualify for CE accreditation…
– Read the entire article carefully, including all its sections and content labelled ‘Mandatory’.
– Select the ‘Mark Complete’ button at the end of each section to track your progress.
– Successfully challenge the quiz to demonstrate your learning.
– Select the ‘Completion Certificate’ link to save and download your personalized completion certificate.
Please Note: CE credits from this HyperArticleTM can only be used once towards your CE requirements every three licence periods. For further information on CE regulations, please refer to the Insurance Council of BC’s website.
Overview
In this HyperArticle™, you’ll learn about the different types of business interruption coverage, with particular focus on the key distinctions between the Gross Profits and the Gross Earnings forms. You’ll look at how claims are quantified, including co-insurance issues, and dive into indemnity issues, exclusions, and related case law. Lastly, you’ll receive practical considerations for brokers when advising clients on the type of business-interruption coverage required and appropriate limits of insurance.
When you’re ready, please go to the first content section…