HOW A CLAIM IS CALCULATED

HOW A CLAIM IS CALCULATED

  • undefinedThe Underlying principle
  • Step 1.1: Does the BI policy cover the loss?
  • Step 1.2: Not all disruptions follow damage
  • Step 2.1: Calculate the Standard Turnover
  • Step 2.2: Calculate the Standard Turnover – part 2
  • Step 3.1: Calculate the Adjusted Standard Turnover
  • Step 3.2: Grouped as trend and special circumstances
  • Step 3.3: Analysis of monthly turnover
  • Step 3.3: Analysis continues
  • Step 4.1: Turnover elsewhere
  • Step 4.2: Shortfall calculated
  • Step 5.1: Calculate the Rate of Gross Profit
  • Step 5.2: Uninsured working expenses
  • Step 5.3: Adjusting the Rate of Gross Profit
  • Step 5.4: Adjustments take skill & time
  • Step 5.5: Agreeing the Rate of Gross Profit
  • Step 6: Calculate the Loss of Gross Profit (Item 1A)
  • Step 7: Increased Cost of Working
  • Step 8: Savings
  • Step 9: How a claim is calculated – Traditional Policies
  • Step 9.1: Check for Adequacy of Insurance
  • Step 9.2: Check for Adequacy of Insurance Continues
  • Step 9.3: The cost of under insurance
  • Step 10: How a claim is calculated – Declaration Linked Policies?
  • Step 10.1: Declaration Linked Policies
  • Step 11: Additional Increase in Cost of Working
  • Summary of Claim Calculation
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