Technical Briefing Note - Payments Made Beyond Maximum Indemnity Period
This paper was launched at the BI SIG presentations given at the 2008 CILA Conference in Birmingham. Since launch the detail has been updated and this represents the latest version.
One of the requirements for “Increases in Cost of Working” to be payable as an alternative to a loss of Gross Profit, is that the additional expenditure be incurred for the sole purpose of avoiding or diminishing a reduction in turnover during the Maximum Indemnity Period. The question arises as to whether payments made following expiry of the Maximum Indemnity Period can rank for consideration as ICWs.
