Following is a list of all workshops that Professional IQ College can currently offer. Whilst not all are offered in the 'Upcoming' list, we can schedule a workshop if your organisation has sufficient numbers of people interested.Contact us to discuss a tailored workshop programme. CPD Points apply to these workshops.

Business Interruption – Importance of cover for Additional Increase in Cost of Working

CPD Points: 1.00
Duration: 1 hr
$89.00 +GST Retail
$74.00 +GST Learning Partner
Registration Closed

Event Detail

BI is more than just the insurance of Gross Profit. Cover is automatically provided for Increased Costs as part of the Gross Profit item. But there are limitations to what can be claimed under this item – often referred to as Item 1(b). What are the “tests” that need to be satisfied for an extra cost to be covered under Item 1(b)? Why is it recommended that BI policies have the separate item of cover for Additional Costs? It might be called “Additional Costs” or “Additional Cost of Working”, but most frequently it is called Additional Increase in Cost of Working (“AICOW”). Whatever it is called – it is the wording that is important.

Topics include:

  • Review actual policy wordings.
  • Explain the differences with the policy wordings for Item 1(b) increased costs (under the Gross Profit item), and the separate item of cover “Additional Increase in Cost of Working (often referred to as “AICOW”).
  • Discuss the “tests” that need to be satisfied to claim extra costs – under both Item 1(b) and also AICOW.
  • Discuss how to set an appropriate level of cover for AICOW?
  • With examples, discuss the sorts of costs that cannot be claimed
  • Insuring for AICOW only, with no Gross Profit or Gross Revenue cover.

All Coming Instances

09:30a.m. - 10:30a.m., Tue, 20 Oct 2015
Registrations Close: 19 October 2015
Class Limit: 56
Presenter: Mark Anderson
Registration Closed
10:00a.m. - 11:00a.m., Tue, 21 Feb 2017
Registrations Close: 20 February 2017
Class Limit: 40
Presenter: Mark Anderson

A webinar link will be sent the day prior.

Registration Closed
10:30a.m. - 11:30a.m., Tue, 17 Apr 2018
Registrations Close: 16 April 2018
Class Limit: 50
Presenter: Mark Anderson


Registration Closed

Terms and Conditions

Discounts are available for group bookings.  Please enquire. 

The running of this workshop is subject to minimum attendees. 

No refund will be given if you choose not to attend within 7 days of the event.

Full terms and conditions are available here
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