A common question on Business Interruption

I would think that the most common question put to me on business interruption is what is the difference between increase in cost of working coverage and additional increase in cost of working.

Speaking with Steve Manning, Revell Weightman, Murray Rowley and many other experts at LMI, it is appears it is for them as well.

Today I received this:

Dear Allan, I hope this finds you well? Would you have a very simple example on how to differentiate the difference between ICOW and AICOW working covers, some simple examples would be great if you had any readily available?

Yours Faithfully

Michael [surname and email provided]

Rather than keep answering the same questions over and over, I would ask that readers use the search function on the blog as there are over 1,500 articles on a very wide range of topics and the answer may well be there for you.

In this case I wrote to Michael and said:

This is one of the most common questions I get asked. I have covered it in several blog posts in the past, an example can be found here, in the BI explained section of BIcalculator.com and also in my book Business Interruption Insurance and Claims.

Have a look at those resources and give me a yell if you are still not sure.

Thanks

Allan

I received this appreciative note straight back.

Hi Allan,

Thanks for getting back to me so quickly – I’ve just had a look on BIcalculator.com which gives an excellent explanation of the difference between the two covers.

Thanks so much for the advice, keep up the good work

Kind regards

Michael