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The “Business Interruption: Service Insureds” course is designed to help adjusters understand the business interruption assessment for service insureds, including potential coverage issues, gathering documentation, mitigating losses, and calculating the extent of the loss. The module is presented by Mark N. Henry, CPA/CFF, of Morgan Johnson Carpenter & Company, PC, and Anthony DeCesare, Executive General Adjuster of Engle Martin & Associates.
The course begins with an overview of the various types of covered losses which can lead service insureds to suffer a business interruption. Then, the course provides the features of applicable policy components such as automatic daily payments, 12- month limitations, and extended periods of liability. The course also explores in depth the flexible uses of the extra expense coverage. Then, the course reviews three in-depth examples of service insureds from the medical, financial, and professional industries, reviewing the documentation to be gathered, the unique challenges faced by each industry, and the various methods of calculating business interruptions losses. Finally, the course recommends frequent and substantive communication with the insured throughout the handling of the claim.
After completing the course, the attendee will understand how to gather information on the business operation and the loss; how to obtain the appropriate documentation; how to use extra expense coverage to help the insured mitigate losses and return promptly to normal business operations even in the aftermath of widespread natural disaster; how a timing delay in payment can affect business interruption losses; how long-term loss of clients can interact with the period of restoration; how to adjust projected losses by the percentage of charges typically collected; and how to navigate disputed income loss calculations through building trust with the insured.
The course is designed for insurance professionals working in the area of property adjusting.
What CE Credit is available?
Note: To qualify for credit, you must submit completion (including a passed final exam if required) within five days of completing the last quiz. No partial credits will be awarded.
State:
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Adjuster General CE Hours:
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Adjuster Ethics CE Hours:
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Attorney General CLE Hours:
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State's Course ID:
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NH | 2.0 | 481625 | ||
TX (classroom equivalent) | 1.0 | 107209 | ||
NC | 2.0 | 206649 | ||
FL * ( Provider Number: 364169 ) | 3.0 Optional | 1191351 | ||
IL | 2.0 | 533189 | ||
WY | 2.0 | 27639 | ||
OK | 2.0 | 1027697 | ||
NH | 2.0 | 481625 | ||
TX (classroom equivalent) | 1.0 | 107209 | ||
NC | 2.0 | 206649 | ||
FL * ( Provider Number: 364169 ) | 3.0 Optional | 1173035 | ||
IL | 2.0 | 533189 | ||
WY | 2.0 | 27639 | ||
OK | 2.0 | 1027697 |
* This course has been approved by the Florida Department of Financial Services for insurance continuing education credit.
Course Content
At 87% you qualify for TX/NH credit or a PLRB/CPCU certificate. For the other states offered, you must complete a final exam. Submit within 5 days to get CE Credit or Certificate of Completion.