We will discuss a Business Interruption calculation of loss as a worked example.
Using this claim example we will focus on:
It is often only when a loss occurs that an insured and their broker find out how good their BI policy is. It is too late after a loss to retrospectively change the cover, so looking at a calculation of loss is a good way of demonstrating the importance of:
Mark has been a senior business interruption consultant with Commercial Loss Management since 2003. Commercial Loss Management specialises in acting for insureds to prepare their business interruption claims. He began his business interruption career in 1988, having worked as a Senior Loss Adjuster and then as a Director and Senior Business Interruption Consultant with a specialist Business Interruption consulting firm in Auckland.
Mark has a keen interest in education, training and professional development. For six years, he was an examiner in Business Interruption and has lectured on this subject throughout the country including presentations to brokers continuing education seminars since 1993.
He is a Chartered Accountant and has a Bachelor of Commerce degree. He is an Associate of the Australasian Institute of Chartered Loss Adjusters and the Chartered Institute of Loss Adjusters (UK), a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance and a FUEDI European Loss Adjusting Expert.