A Typical Loss of Production Income (LOPI) claim - IMUA
A Typical Loss of Production Income (LOPI) claim - IMUA
A Typical Loss of Production Income (LOPI) claim - IMUA
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Business Interruption (BI)<br />
Provides compensation to the Operator / Vessel Owner for a<br />
shortfall in the ability <strong>of</strong> the asset / facility to earn income, as a<br />
result <strong>of</strong> a Named Peril (i.e. Physical Damage, etc.)<br />
• <strong>Typical</strong>ly subject to a “Waiting Period” number <strong>of</strong> days<br />
before BI cover will commence.<br />
• BI coverage specifies a Limit value.<br />
• Expediting / Mitigation Costs may be applicable.<br />
• <strong>Typical</strong>ly a very complex calculation which evaluates preincident<br />
& post-incident costs and income.<br />
The Adjuster (and / or a forensic accounting firm) will typically<br />
review the circumstances, calculate costs and income, and<br />
apply Policy provisions to calculate a potential <strong>claim</strong> amount.<br />
HYDROFRACKING – The scope and magnitude <strong>of</strong> the process, inland marine exposures/issues and community impact. Slide No. 16
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