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The course “Interplay Between Business Interruption, Extra Expense, and Property Damage” is designed to enhance the student’s knowledge, understanding, and professional competence in the legal and claims handling aspects of business interruption claims. The module is presented by Greg Barnhill, Executive General Adjuster for Crawford Global Technical Services, and Chris Dailey, CPA, with HSNO The Forensics Firm.
The presenters begin by providing an overview of business interruption losses and defining the components of the earnings loss. Next, the presenters provide the three methods for calculating the earnings loss and explain whether any of the three methods is better for certain situations. The presenters then define Extra Expenses and give numerous examples of the concept. Following this, the presenters speak at length of the interplay between coverages and common scenarios where “double dipping” can occur if the adjuster is not careful. Similarly, they describe several areas where expense duplication should be avoided, and they give tips on mitigating the loss. Finally, the presenters cover some special cases relating to business interruption topics and describe how each is best handled.
After completing the course, the viewer should be able to…
describe business interruption losses and list the elements of such losses; define the period of restoration; determine when business interruption coverage is triggered; list the components of the earnings loss; calculate the earnings loss using one of three accounting methods described in the presentation; identify documentation that helps establish loss amounts; define Extra Expenses; distinguish between mitigating and non-mitigating Extra Expenses; select among various options to help an insured mitigate a business interruption loss; avoid double-dipping to the extent possible; identify common areas of payment duplication; and effectively work with an insured in minimizing the period of restoration.
The course is designed for practitioners and insurance professionals working in the area of property insurance claims handling.
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 | 482657 | ||
TX (classroom equivalent) | 2.0 | 137732 | ||
NC | 2.0 | 201872 | ||
FL * ( Provider Number: 364169 ) | 3.0 | 1193792 | ||
IL | 2.0 | 585457 | ||
WY | 2.0 | 26494 | ||
OK | 2.0 | 1025059 |
* 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.