Skills Unit
LA507-00
Business Interruption Loss Adjustment
Discusses the business interruption policies available, the purpose of business interruption cover and the effect business interruption can have on businesses. Students will learn about the role of a loss adjuster in the preparation and assessment of business interruption claims, the claim triggers to business interruption and the calculations and preparation costs needed to assess a claim under an Industrial Special Risks (ISR) policy.
What you'll learn
Upon completion of the program, participants should be able to:
- explain the purpose of business interruption cover
- explain the effects business interruption can have on businesses
- describe the business interruption policies available to businesses
- explain the role of the loss adjuster in the preparation and assessment of business interruption claims
- describe the three claim triggers to a business interruption claim
- describe the calculations needed to assess a claim for loss of gross profit and loss of payroll under a typical ISR policy wording
- describe the cover provided for claim preparation costs and additional increased costs of working under a typical ISR policy wording
- describe the conditions and issues surrounding business interruption policies.
Competencies
FNSISV511A Settle non-routine and complex claims
Online Assignment
- Pass Grade: students must be assessed as competent in all assignment questions
Online Exam
- Pass Grade: 50%
- Duration: 120min