There are a number of drivers for BI Insurance Reviews and these include:

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- An organisation wishing to understand their BI exposures to ensure that optimum BI insurance coverage is purchased.

 

- A move by insurers to seek additional BI information for particular businesses, sometimes driven by a loss that has been encountered where the BI claim is unexpectedly high or there is concern about the level of BI information or BI values provided.  

 

- Placement or capacity issues and / or insurers (or new markets) demand the need a BI Review Report.

 

- There is a need to have BI estimated maximum loss (EML) data, that take into account the mitigation / business continuity options that are available:

       - to review the current PD/BI Policy Limit(s)

       - or a need to convert the current Full Value basis of cover to a PD/BI policy limit

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- Significant change in the business e.g. BI value increases due to post Covid-19 recovery, Brexit impacts and mergers and acquisitions activity

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- Insurance Brokers having concerns about current BI coverage e.g.

         - the basis of BI coverage requires to be checked

         - BI values as declared look incorrect

         - indemnity periods appear too short

         - the interdependency risk does not appear to be correctly insured

         - the suppliers or customers BI coverage is too restrictive

         - certain BI extensions are inadequate

         - a loss experienced led to BI coverage issues and questions.

 

- Insurance Brokers encountering that an account is at risk from another insurance broker and it is known (as per the RFP) or feared that the BI coverage is an attack point.​