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
I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. In fact, around 75% of interruption claims by number have an Indemnity Period of less than 3 months.
Let's personalize your content