WHAT IF THE DAMAGE HAD HAPPENED YESTERDAY
Do you have a plan for when an insurance claim stops or limits your business operations?
In business insurance, I handle three risks simultaneously:
- Property damages
- Damages to third parties
- Damages to revenue as a result of an insured event
Business interruption insurance is insurance of indirect - consequential damages. These arise as a consequence of property damage and in many cases have a greater impact on the continued existence of the business than actual property damage.
Why is business interruption insurance important?
1. Retaining key employees
2. Sufficient funds for the duration of the repair/replacement of the damaged item (fixed costs)
3. Sufficient funds for the period after the business interruption (lost profits)
Do you want to have a well-set liability period, sufficient sums insured and risks properly covered?
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