Commercial Property Insurance – Dealing with Under Insurance – 25th May 4.00-5.00pm
We are delighted to have Alan Chandler present our next Insurance Infusion session on Thursday 25th May 2023 (4-5pm) This is FREE of charge to our clients.
Commercial Property insurance dealing with under insurance.
It is estimated that at least 80% of policies have incorrect sums insured! This presentation looks at the major issue of under insurance in the UK property market and how to help your clients avoid the under-insurance trap. Under insurance has been made considerably worse now that we are seeing UK inflation go into double digits and this is something all insurance staff need to be aware of.
The presentation, delivered by Alan Chandler one of the UK’s most popular insurance presenters, will look at what clients actually need to take into consideration when settling Buildings, Contents and Stock sums insured. Alan will explore why under insurance is so common, the effects of under insurance for the client, and why the current environment of high inflation, leading to significant under insurance is an increasing cause of Professional Indemnity claims against brokers. Unfortunately, high inflation is likely to be with us throughout 2023 due to continuing challenging global events and clients need to make sure they get their sums insured right because they will get checked by loss adjusters in the event of a claim.
One of the problems is that the figures on the client’s balance sheet are not the same as those required for insurance purposes and Alan will point out the differences so that clients can be warned.
Delegates will be able to:
- Understand what needs to be taken into account in respect of Buildings, Contents and Stock Sums Insured.
- Understand why there is a difference between the figures for accounting purposes and the figures for insurance purposes.
- Understand the effects of under insurance for clients and how to aid them in mitigating their exposure to under insurance in a high inflation environment.
Date: Thursday 25th May 2023
Held: via Zoom
Cost: FREE OF CHARGE TO OUR CLIENTS
Please note the maximum number of attendees is 3 per firm (if you need more then please let us know and we will let you know if we have any spare places due to cancellations)
We will not be sending you a booking form for the webinar as it is a FREE webinar. However, if you are unable to attend please let us know in advance so that we can offer your place to another person. The webinar will be delivered via ZOOM and log in details will be sent in advance of the session. Please ensure you have the appropriate software/apps and login details before the session.
Book you place(s) now and pop the date in your diary as it will be popular
To book please contact Deborah@createsolutions.co.uk