Why business interruption insurance
Business interruption (BI) cover is designed to protect your business from reduced profitability as a direct result of an insured event. The cover aims to ensure that your business continues to enjoy the same profitability as it would have, had the event not occurred.
With the correct BI cover in place your business can trade with confidence, knowing that any disruption to trade will not harm your bottom line.
How our business interruption insurance review can help you
Our BI review service aims to identify the key risks to trade, quantify the potential financial impact from those risks, and recommend policy coverage to mitigate those risks.
They key areas of our review service will cover;
- Business continuity plan
Review of your business continuity plan and its robustness. Run through major and partial loss scenarios to identify any further coverage requirements.
- Sum insured
A review of your declared sum insured and its adequacy to cover you in the event of a claim, compared against the insurers definitions of profit and revenue.
- Maximum indemnity period
An assessment of the maximum time it would take to reinstate your business and recover trade to expected levels following a major loss.
- Contingent BI exposure
Identifying potential financial exposure arising from damage and disruption to key suppliers and key customers.
An assessment of the potential impact on other areas of your business that are not directly damaged but could be affected by a claim.
For businesses with multiple locations, we will assess the potential for impact to trade on other locations arising from damage at one location.
Our policy coverage recommendations are tailored for your business. This is based on the financial data and our understanding of the key risks to trade following an event.
- Our review expertise
The review will be carried out by qualified accountants with major loss claims experience in a wide variety of sectors and industries.