• Business interruption

Business interruption insurance

Businesses are full of interdependencies. One major incident, like storm damage or arson damage, can lead to other problems; especially with customers, staff, suppliers and banks to keep happy.

If an insurable event - man-made or natural - results in an interruption to your trading, business interruption insurance can bridge the gap until a permanent solution is in place.

This cover can be set-up to protect your gross profit or the gross fees you miss out on during any interruption. Quite simply, the amount of profit or income insured. Increased costs are often incurred in these situations and therefore can also be insured, either on an economical, or - should your trade dictate - non-economical basis. Remember: material damage losses will fall under separate cover; buildings and contents, for example- please see Property damage.

Every business interruption claim lasts a different amount of time, so it’s crucial to identify a suitable indemnity period - that’s the length of time needed for trading conditions to have returned to levels you enjoyed before the loss occurred. Think about how long it would take for debris to be removed; for any issues with listed buildings to be overcome; for plant machinery to be built, imported and bedded in.

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