Suffering a major incident such as a fire or a flood can have disastrous consequences for businesses, particularly if the insurance cover for business interruption losses proves to be inadequate.
Past research undertaken by the Chartered Institute of Loss Adjusters (“CILA”) has uncovered frequent and significant levels of under insurance. In some cases, the declarations made by policy holders have been so inadequate that insurers have sought to decline to make any payments under the policy at all.
CILA is updating its research. It is seeking to establish whether under insurance remains a problem and if so, why?
Please spare five minutes to participate in a short survey. Next year, CILA will provide access to the results which will include the various views of the insurance industry and the purchasing public. CILA will use the results to identify any common themes and address any problem areas.
Survey closes 31st January 2012.