Jason Reeves to Present LMA Academy Masterclass on Business Interruption: Increased Costs of Working and Extra Expense
June 11, 2019On June 11, 2019, Jason Reeves, a partner in the London office of Zelle, will present an LMA Academy Masterclass titled “Business Interruption: Increased Costs of Working and Extra Expense.”
Mitigation measures can significantly reduce a potential loss of profit, but questions inevitably arise on issues including whether the expenditure is economic and the extent to which costs incurred during the Waiting Period are covered.
This masterclass will discuss the differences between Increased Costs of Working (ICW), Additional Increased Costs of Working (AICW), Expense to Reduce Loss (ERL) and Extra Expense(EE), as well as providing practical examples to illustrate how contentious issues arise in practice and how they might be dealt with.
This presentation will focus on:
- defining ICW, AICW, ERL and EE
- the application of the economic test
- mitigation costs incurred during the waiting period
- pro-rating costs
- practical considerations with mitigation
Joe Aldous of BTVK Advisory will co-present with Reeves. For more information, please visit the LMA Academy website.
