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Business Interruption Policy Wordings

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$38.50 (inc GST) $35.00 (exc GST)
0.30 KGS
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Product Description

Business Interruption Policy Wordings - Challenges Highlighted by Claims Experience

This book, is the result of joint collaboration between the Insurance Institute of London (IIL) and the Chartered Institute of Loss Adjusters (CILA).  Its aim is to deal with the most commonly encountered difficulties in business interruption (BI) policy wordings, examine the consequences and offer potential solutions. The book does not propose prescriptive new wordings but highlights those areas where clarification may help customers,brokers, insurers and adjusters. It does not claim to be exhaustive but examines the most commonly encountered problems areas with the objective of avoiding similar claims giving rise to different outcomes depending on a particular interpretation of a policy wording.

Authors: IIL Research Study Group

ISBN: 9780900493942

Published: IIL, May 2012

Binding Format: Soft cover

The book identifies the issues that would benefit from some level of change in as concise a manner as possible, balanced with the need for a degree of discussion so that the aim of clarity is clearly appreciated and justified.
It covers the following:

  • The perceived definition of Gross Profit and how this can differ from the insurance policy definition 
  • The scope of cover for Rent and misunderstandings around Rent Receivable and Rent Payable 
  • The issues that arise when there is Wide Area Damage 
  • Confusion around Suppliers’/Customers’ Extensions 
  • How Time Deductibles should be applied 
  • The intention of Underwriters in relation to Depreciation Savings


The Insurance Institute of London (IIL), by far the largest in the UK, was established in 1907 and today has over 17,500 members. IIL's objective is to raise professional knowledge of those working in insurance and assist them in their career development through a combination of lectures, an annual journal and facilitation of Research Study Groups (RSG). RSG's are formed to research specialised areas of insurance. They are lead and their members are drawn from those with acknowledged expertise in the particular areas being researched. The comprehensive reports subsequently produced and published are highly regarded and well received both in London and around the insurance world.

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