Protect Your Business from the Unexpected
Business interruption insurance provides you with vital cover following unforseen events that disrupt your business operations and negatively affect your revenue. Its purpose is to help get you and your business back up and running so you can recover from the loss and regain your normal business operations.
Business interruption policies vary dramatically and depend on your scope of work. It is therefore critical to speak to an experienced insurance broker who can arrange a suitable policy that covers your needs.
Case Study: Business Closure
Linda is the owner of a small office supplies business – with eight staff on
the payroll and numerous suppliers.
Late one night, the restaurant next door catches fire and it spreads to her
business premises – destroying the property along with the stock and IT
systems. She’s unable to open the shop for weeks while the building is
being repaired. Because the business isn’t operating, she’s not making any
money – meanwhile the bills are piling up.
But with business interruption insurance, Linda banks an insurance
payment – maintaining her cash flow at pre- interruption level. Linda can
continue paying her staff their regular wages, so they keep their jobs, and
rents a temporary location so the store can keep running.