It's time to get rid of the dreaded 'killer worksheet'

Many agency staff (and, yes, even owners) inwardly cringe when the subject of business interruption arises. It seems to be a topic that confuses some, disheartens others and fills most CSRs with a sense of dread. The reason for this almost universal aversion is the worksheet that carriers demand be completed to measure the exposure to loss. I call this the “killer worksheet.”

I refer, of course, to ISO’s CP 15 15, the Business Income Report/Work Sheet. While not always required by carriers (some have their own version), many underwriters like to have it. It is almost universally demanded when the agreed-value coverage option is requested. And that’s only fair. After all, we are perfectly comfortable providing a signed statement of values when we ask for agreed-amount coverage for property. Why rebel at the thought of providing it for BI?