Business Interruption Insurance


Business Interruption Insurance

This cover protects your business against loss of income if you are forced to temporarily stop trading due to an unexpected event causing damage to your premises or equipment.

Every year, many businesses fail because they are unable to recover from loss or damage due to such events as fire, flood or storm, or are unable to trade due to breakdown of essential equipment.

Business Interruption aims to put your business back into the same trading position it was in before the event occurred and typically protects your business against losses caused to your premises or equipment by such standard perils as fire, theft and storm, or equipment breaking down.

In certain circumstances, extensions to the cover can be arranged, covering you against damage to utilities (gas, electricity, water & telecoms); damage at a customer’s or supplier’s premises; or denial of access, possibly due to terrorist activity, such as a nearby bomb scare.

Revenue protection can offset your lost income, enabling you to recover loss of gross profit due to a reduction in turnover, while additional trading expenses cover can give you the financial help you need to get your business back on its feet.

Many companies underestimate the level of disruption caused and the time it takes to fully recover from a catastrophe and as such do not have adequate business interruption cover in place. By working with you to understand your business, we can establish and implement the most appropriate level of business interruption cover for your needs.

When arranging your policy, it’s important to assess how long your recovery would take and ensure your indemnity period covers the full period. This will vary from 12 months for a small business up to three or four years for a large manufacturing company.