A high proportion of businesses which suffer a major loss never trade again or fail within a short time of restarting. Whilst this is not always due to insufficient business interruption insurance, this is a contributing factor in many cases. Sums insured are often arranged on an incorrect basis or an inappropriate indemnity period is selected. Allowances should be made not just for how long it takes to rebuild or repair but for how long it takes to regain customers or market share.
Often businesses are dependent on individual machines or production lines and the effects of breakdown or damage to parts of a business need to be considered.
Planning for a major loss is important, as you may need help with business continuity or disaster recovery planning.
Range:
- Business interruption following fire and other perils
Losses following damage at suppliers or customers
Engineering consequential loss
Advance profits and research and development covers
