HOW A CLAIM IS CALCULATED

  • The 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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