IUA Circular 026/23
The Business Interruption Adjustments Clause –
Are we in a perfect storm of factors with Brexit, post-Covid recovery, inflation, insolvencies, and more coinciding?
with guest speakers:
Cranston Watts, Director Forensic Advisory Services at Sedgwick and Josephine Suppiah,
Head of Forensic Advisory Services UK, Sedgwick
Event Chair: Joe Shaw, Senior Market Services Executive, IUA
HYBRID EVENT
Event Date: Wednesday 29 March 2023
Time: 1pm/13:00hrs for approx 1 hour (UK/London time)
Venue: ACORD Conference Suite, 8th floor, 1 Minster Court, Mincing Lane, London. EC3
(the event will be followed by a sandwich buffet lunch)
Check your time zone
here
Subject: This market briefing our guest speakers will discuss BI claims in the current challenging business environment and question if insurers are paying out more than they should on BI claims?
Contact: Deborah Finch, IUA Events Manager (020 7617 4451)
This is a free event, but names and email addresses of all attendees are required for registration.
Click here for dial in details for remote access
We understand that some attendees are unable to join our webinar's due to company restrictions for some applications on company computers. Please note you can also connect and join with a mobile or tablet device.
Please adhere to on line etiquette during our presentations. We kindly ask you to mute your microphone and video upon commencing the link and to use the Chat application for any questions, which will be addressed by the speaker at the end of the presentation. We suggest dialling in at least 5 mins before the start of the webinar.
Please note that any recording of this session will be available post-event on the IUA's You Tube channel, subject to speaker authorisation and technical quality.
The future is impossible to predict, and it is difficult to understand the impact an expected incident has on any business.
Although buildings and contents insurance cover the physical aspects of damage, missed income and employee wages also need to be protected and the correct cover will defend your business, finances and reputation in the event of an unforeseen occurrence.
At this market briefing training event, our speakers will include the following in relation to a further understanding of business interruption:
•
Post Covid business performance – base line
•
Impact of Brexit on certain sectors
•
Inflation in BI claim - margin squeeze, utilities costs and other costs increasing including staff wages,
•
Risk of insolvencies
•
Strikes and other disruptions (Power?)
•
Delays in reinstatement due to construction challenges – extending the Interruption period
•
Currency volatility – operational impact on businesses, policy impact for global companies.
The training is aimed to provide guidance on the topic to give attendees a wider comprehension of the business interruption claims arena.
Our Speakers:
has worked in adjusting and forensic accounting for 7 years and has been a chartered accountant for 15 years. He has worked at Sedgwick (previously Cunningham Lindsey) since 2016 handling Business Interruption claims over multiple sectors. Cranston is DIP CILA qualified and is currently the Education Secretary of the LBIA.
Josephine Suppiah is a qualified Chartered accountant and has been working in the insurance sector as a forensic accountant for 21 years. Prior to joining Sedgwick International UK, Jo was with Marsh Ltd as a Senior Vice President / Managing Consultant and with Matson Driscoll & Damico UK LLP where she started her career as a forensic accountant.
Jo's experience includes dealing with major and complex BI/CBI and physical damage losses across mix of large and multinational businesses in varied industries. She also has experience in carrying out pre-loss BI reviews. She is also co-Chair the IIL Claims Committee.
DISCLAIMER: The market briefing presentation materials and speaker comments therein were prepared solely by the presenter(s) in their personal and professional capacity. Any materials or opinions expressed do not necessarily represent the views of the IUA and IUA does not bear any responsibility for, or liability to, any parties in respect of the accuracy, legality or overall content of the presentation or any other comments made by speakers or other attendees during the market briefing.
As a member of the CPD (Continuing Personal or Professional Development) Certification Service the IUA is committed to providing high quality training activities. Our market briefing events are certified as being suitable for CPD purposes. To obtain a self assessment form for any particular event please email
Deborah Finch. These forms will be issued after each individual event upon request.
Anti-Trust Statement: It is the clear and unequivocal policy of IUA to comply in all respects with all applicable competition or antitrust laws. Consequently, IUA Market Briefing Attendees will not participate in any practice that would have the object or effect of restricting competition, nor will IUA provide a forum to promote anti-competitive conduct. In particular, any discussion or agreement on key commercial terms, such as commercial premiums, is likely in all instances to be unlawful and must be avoided. A competition law ‘
Do’s and Don’ts’ guide is available and the IUA is happy to answer any questions on competition law that attendees may have.
etails of speakers here