SPECIALIST INTEREST GROUP CONFERENCE BUSINESS INTERRUPTION 29TH OCTOBER 2007
BI SIG SIG BI Conference 29 October 2007
BI SIG - Purpose • Represent the views of SIG members • Issue guidance notes e.g. flooding • Consider questions/issues referred • Facilitates networking with illuminii • Issue technical notes e.g. depreciation
BI SIG: Consistency • Chartered Accountants, Chartered Surveyors, Solicitors, and others have technical guidance notes. • Avoidable inconsistency makes us look unprofessional. • Guidance notes give a common starting point; they assure that sufficient has been done; they allow flexibility.
BI SIG: Consistency • Majority of issues are entirely non-contentious. • Guidance notes allow the SIG to advertise its expertise. • Demonstrate that the technical basis of the cover in policies is mirrored by common technical approaches in practice.
BI SIG: Technical Guidance Notes • Purchases • Premises • Interest • BI/Stock overlap • Temporary Accommodation
Developing Guidance Notes • SIG members identify an issue • Committee register as a work in progress • Initial draft produced and circulated • Feedback to committee (Forums) • Revised draft • Approved and posted on website
BI SIG - Purpose • Comments?