Information Release

Contact: Hugh O. Strawn
hstrawn@plrb.org
630-724-2230

Date: September 6, 2016

Unraveling a Contingent Business Interruption Loss

2016 PLRB Large Loss Conference

 

Large Loss adjusters frequently deal with complex claims that sometimes interrupt the ability of a business to function normally. "Unraveling a Complex Business Interruption Claim," is one of the workshops offered at the Property & Liability Resource Bureau's Large Loss Conference, October 4 to 6 in Chicago.

The workshop, which will dissect and analyze a claim scenario that involves a large contingent business interruption claim, will be lead by Marcus Reath, Executive General Adjuster, McLarens, Jason Uloswceh, Partner, Madison, Driscoll & Domico, and Mindy Medley, Shareholder, Clausen Miller PC.

"Contingent Business Interruption and Contingent Extra Expense insurance are an extension of Business Interruption coverage," noted Scott Powell, Vice President, Education and Technical Services, PLRB. "Together they are known as Contingent Time Element coverage. It insures the policyholder that sustains a loss because of an interruption of business at the premises of that policyholder's customer or a supplier that has been caused by a covered property damage. Sorting out the facts is frequently a detailed process requiring significant research."

The key issues to be addressed in the workshop will include:

  • Given exposure and known challenges, what is an appropriate advance?
  • Resolving the interplay between local and global policies.
  • How does an adjuster determine the appropriate period of restoration?
  • What is the impact of long-term contract with alternate suppliers?

The session is approved for adjuster continuing education credit in Florida, North Carolina, Oklahoma, and Texas. It has also been approved for educational credit for both CPCU and RPA designees.

The workshops offered at the Large Loss Conference are adjuster-led and encourage active participation. They provide a unique opportunity to learn from and with many of the insurance industry's leading experts.

Classes are offered in three tracks:

  • Commercial Lines, property claims
  • Personal Lines, property claims
  • Casualty Claims

The Large Loss Conference will be held at the Chicago Marriott Downtown Magnificent Mile. Senior claim professionals and service providers from across the nation will meet for professional education and development. They will evaluate a variety of large loss claim scenarios through workshops. They will share ideas and adjustment strategies with large loss professionals from across the country. They will also be able to network with large loss adjusters and service providers from across hundreds of disciplines and specialty areas.

Complete information regarding the workshops and registration is available here.

The Property & Liability Resource Bureau is a not-for-profit association of property and casualty insurance companies. It is located in Downers Grove, Illinois.