Business Interruption

Helping your business recover after a loss

If your business suffers a major interruption, such as a fire or a flood, you may be unable to continue to trade.

While it’s very easy to picture the physical devastation caused by a fire or flood, for many businesses it can be difficult to envisage the financial implications such an event would have on their balance sheet.

This is surprising, as this has the potential to be altogether much more devastating to the business than the loss of any physical assets.

When a business suffers damage, it is almost certain that two things will happen:

  • The day-to-day running costs of the business will increase

  • The ability to earn revenue is diminished

This is where Business Interruption insurance steps in - it will alleviate the financial headaches that can continue while the business attempts to bounce back from the original event.

Business Interruption cover will indemnify your lost income and cover fixed costs to ensure you can continue to recover. Following a loss, you may incur additional costs, such as the cost of relocating. This valuable extension can ensure you’re able to fund these unexpected expenses. Your policy can benefit from a variety of additional extensions such as covering your losses that result from an insured loss at your customer or suppliers’ premises. Careful consideration should be given to the extensions you need.

Having the right business interruption insurance will help your business recover following a loss. Whether your business operates from a single site or you have operations across the globe, our team has the experience and expertise to ensure your business interruption policy is fit for purpose.

Consideration should also be given to your indemnity period – this is the agreed time period for which your insurance company will continue to indemnify you. If it is too short, your business may not be able to fully recover. 

We’ll help you calculate the right level of cover and guide you through the various options and extensions.

 

“Without your involvement, I wouldn’t be in business today”. 

- Neil Sampson, Chairman of Green Gate Access Systems

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Additional Considerations

Denial of Access

Being denied access can impact your ability to trade. You can insure this exposure under this extension and cover can be arranged to include coverage when the denial is as a result of instruction by the authorities.

Customers/Suppliers

A major incident for one of your customers or suppliers can adversely impact your own income. We can cover lost or reduced income in this scenario.

Utilities

Without utilities such as power, water or telecommunications, your business may suffer a loss of income. This extension can help cover this.

Linked Business Interruption Cover

In addition to this cover, you may need to arrange business interruption cover linked to other policies including Engineering Business Interruption or Terrorism Business Interruption. We can assist with these areas.