Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.
Prof. Allan Manning
FEBRUARY 10, 2025
In fact, quite rightly we are seeing Brokers suggest longer Indemnity Periods due to a general lengthening of the time taken to recover from a major insured event. From the very beginning of Business Interruption insurance, it was understood that most events would cause a short disruption rather than a long one.
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