Increase in cost of working – the peccadilloes

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Presented by

Damian Glynn and Nicole Lawrence

About this talk

This session will address a number of issues with regards additional expenditure from a practitioner perspective, including: • What are increased costs and where is the cover shown in the policy schedule? • What is the ‘economic limit’? • How and when is it applied? • Who decides if a cost is reasonably incurred? • Does it matter when increased costs are incurred? • What about benefit beyond the Maximum Indemnity Period? • What is AICW? • What are ICW only policies? Learning objectives: • Understand what increase in cost or working cover is • Understand how it is applied in practice • Appreciate its critical importance for loss mitigation
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