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Business interruption… Groundhog Day?

Damian Glynn - Sedgwick
COVID-19 has raised some tricky questions about business interruption cover around the world and cyber-related issues continue to present complicated challenges. We can afford to focus on those concerns because we already have the basic BI cover sorted out. Or do we?
In 2017, RIMS issued a report that summarised the findings of a business interruption survey. The report offered a snapshot of the scope of BI cover and the level of confidence that risk managers had in their insurance programmes. Unfortunately, the results suggested that the scope of cover for many businesses was inadequate and the overall level of confidence in programmes was low. ....

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SoCP will assist members to acclimatise to 'new normal' in 2021

The Society of Claims Professionals (SoCP) has revealed that it plans to assist members both individually and collectively in acclimatising to the ‘new normal’ in terms of working patterns in 2021.
Jeremy Trott, non-executive director of the SoCP, said the professional body recognises that claims professionals need to ensure they keep up to date with all of the technical aspects of coverage and how what said cover might actually play out from a claims perspective.
Trott also detailed that claims professionals need to consider more leadership and behavioural support, as the various restrictions and working from home on a more permanent basis have changed the way the sector operates. ....

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