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A Practical Guide to Business Income Coverages

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Myron Steves and Company

3131 Eastside Street

#500

Houston, TX 77098

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A Practical Guide to Business Income Coverages

Presented by:

Chris Behymer, CPCU, ASLI, CIW, Director of Business Development-Bind
Markel Wholesale Marketing

Course description:

If you want to strike fear into the heart of an insurance professional, ask him or her to explain how business income insurance works. Few topics in our business are more dreaded than the issues and challenges embedded in the nine-page ISO Business Income form.

In order to remove some of the mystery, this class will address the following subjects:

  • A discussion of business income concepts such as the definition of business income and extra expenses, the requirements or triggers of business income coverage, and why time is so important in terms of what will ultimately be paid.
  • The importance of the period of restoration and why it is the one of the most important factors in selecting the amount of coverage to purchase.
  • A big reason people avoid business income is due to the nature of the form’s coinsurance provision. Class participants will learn an easy way to establish not only a coinsurance percentage but an amount of coverage to buy.
  • Even if the business is properly covered for a business income loss, it might face financial problems if the customers lost during the period of restoration do not come back. Extended business income is an option that is often overlooked and we will discuss why that might not be the best course of action.

Throughout the class, students will have an opportunity to examine many important business income topics by following a sample risk as it goes from the selection of the appropriate amount of coverage, application of coinsurance, and the settlement of an extended business income loss. At the conclusion of the program, participants will have a good understanding of the importance of this form of coverage in terms of protecting the financial health and well-being of the policyholder.

This class will benefit agents, brokers, customer service representatives, managing general agents, and insurance company underwriters. This class has been approved for three hours of continuing education (CE) credit in the state of Texas.

*This class has a capacity of 65 people. Registration is first come first served.

Free- Restricted to Myron Steves appointed agents only

RSVP before: Friday, November 3, 2017

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Myron Steves and Company

3131 Eastside Street

#500

Houston, TX 77098

View Map

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