Liberty Mutual Property has launched online training capabilities for business interruption coverage, designed to address the most confusing and complicated aspect of property insurance. The Web-based training program guides risk managers and producers through a series of online lessons that provide the basics of business interruption and practice completing a simplified, industry specific business interruption worksheet.
“If a customer doesn’t fully understand BI coverage or how to fill out the business interruption form, they could leave out vital information and put their operation at risk,” said Karen Dente, Director of Learning and Development for Liberty Mutual Property. “Our online BI program provides self-paced training and support to help customers and producers understand the components of BI and make it easy for them to report the correct information, ensuring that they are properly protected.”
The Business Interruption training program consists of four lessons:
* Business Interruption Basics covers business interruption protection, the policyholder’s responsibilities and available endorsements.
* Extra Expense Insurance covers the similarities and differences between business interruption and extra expense insurance.
* Business Income Worksheet covers the importance of accurate business income values, and how to fill out the worksheet.
* Loss Adjustment covers an overview of the business interruption claims adjustment process.
Liberty Mutual Property also simplified the business interruption worksheet, which now contains industry specific forms and language, FAQ’s and detailed instructions for providing correct values. Within the online program is a downloadable worksheet for customers to practice completing, giving them the opportunity to calculate the required values specific to their business.
Liberty Mutual Property’s Business Interruption online training is available at www.libertymutualproperty.com/BItraining. For questions regarding training or other educational opportunities available from Liberty Mutual Property, please contact the Training and Development group at LMP_T&D@LibertyMutual.com.
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