Business Interruption

Covers loss of income, contributes towards the continuing fixed costs of the business and increased working costs incurred to avoid or diminish a reduction in income or interference to the business following loss or damage to property.

Damage to your premises or plant may result in partial or complete stoppage of your business – leaving you with reduced or no income, but still having to pay overheads such as salaries and wages, rent, rates and loan repayments.

You may think you will be able to recommence your business activities at another location without any interruption to your service however this is rarely the case without significant additional costs being incurred for renting alternative premises, re-establishing technology, overtime to staff and contractors to name a few. These costs can add to your expenses considerably at a time when your income is also being impacted, adding financial pressure when you least need it.

There are a lot of balls to juggle after suffering a loss; here are just a few things to consider:

• Are suitable alternative premises going to be available at the time you need them?
• Are you likely to lose key staff to your competitors because they are uncertain of their own future?
• Can you replace all required equipment quickly?
• Will any interruption to your service mean a loss of your customers to competitors due your inability to provide your normal service—even for a short time?
• Do you need to advertise so you can be sure your clients know you are still open for business, if indeed you are?

Studies indicate that as many as 9 out of 10 businesses that do not have Business Interruption insurance and suffer a major interruption will shut down within 3 years. Those with Business Interruption tend to have survival rates at or better than average.

Be a survival story and protect your business with Business Interruption insurance and have the peace of mind when you need it the most.

Please note: This is a general description of cover only – full details are set out in the Policy wording