If you are responsible for your company’s Business Interruption Values (BIV) reporting, we have a special offer for you! BIV measurement and reporting is possibly the most misunderstood data requirement of all lines of coverage. We hear it from brokers and policyholders across the country. It’s a concern for many and now you can find out how your values stack up. We have a simple and effective way to score your current values and provide some clarity on how they can be improved.
Here’s what you will need to get your BIV grade:
Ratable Value (RV) is the insurance industry’s gross measurement of BI value at risk, which represents 12-months of company-wide BI value. RV serves as a starting point for determining true BI exposure. It is important to start with the right value, but RV alone does not take into account the industry, operational model, mitigation strategies, business continuity plans or incident response plans which all play a role in understanding the exposure, all of which should be reflected in the rating on the RV.
So let’s start at the beginning and see how your RV measures up against our calculations for your industry segment.
Just like any process, the best results are dependent on the proper steps and procedures. If your methodology is correct, your grade will reflect it. If not, you'll learn what you're doing wrong or what's missing form your process.
Along with your BIV Grade, we'll make recommendations for your organization to improve both your process and your BIV for your next renewal.
Click here to schedule your review or complete the questionnaire above and we'll contact you to schedule a consultation.