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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:
|
Adjuster General
CE Hours: |
Adjuster Ethics
CE Hours: |
Attorney General
CLE Hours: |
State's Course ID:
|
| 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.
