The correct arrangement of business interruption insurance is a perennial issue for the insurance industry, and in our briefing note of February 2011 we highlighted some of the common problems that arise.

These have now been considered by The Chartered Institute of Loss Adjusters, who have recently issued Business Interruption Policy Wordings – Challenges Highlighted by Claims Experience, a report written by CILA fellows Harry Roberts and Damian Glynn. The report, which is the result of three years of research and collaboration between CILA and the Insurance Institute of London, identifies commonly encountered problems within existing business interruption wording and offers potential solutions.

The authors acknowledge that a lack of clarity over certain aspects of business interruption cover has led to similar claims giving rise to different outcomes depending on the insurer’s interpretation of policy wordings and it seeks to help policyholders, insurers and loss adjusters by highlighting areas where clarification may help.

A copy of the CILA report can be found here.

Please contact us if you would like to discuss any of the issues raised by emailing melissa.hackney@edwincoe.com.

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