Business Interruption Insurance

Read on for More Information on our Business Interruption and Business Income Insurance Services

Business interruption insurance is designed to protect against the unexpected effects of damage to your business property. Such damage can mean that you cannot continue trading in the usual way which inevitably leads to a loss of income.

The knock-on effect of this can be devastating to any company, especially those that rely on regular and reliable cashflow. Without business interruption insurance, your company may be unable to meet its financial obligations and may even fail entirely if trade is lost as a result. Very few businesses recover from a serious loss unless they have this cover.

In order to protect the earning power of your business, aba can arrange business interruption cover which will protect your company against loss of gross profit or gross revenue. The policy will cover you for a selected period of time after the loss, during which you can replace or repair damaged property, renew your stock and recover lost trade and customers.

The insurance also protects your business against the costs you incur in minimising disruption.

The policy will provide help in maintaining your business in various scenarios. Examples of these include:

1. If a crucial piece of equipment is destroyed or damaged, business interruption insurance will assist with the cost of hiring a replacement until the equipment is replaced or repaired.

2. If your usual site or property is damaged, the policy will assist with the cost of securing temporary premises.

3. Insurance cover can assist with the cost of sub-contracting manufacturing processes which you are temporarily unable to service.

4. Business interruption insurance can also cover advertising fees to advise your customers that you are still in business and prevent competitors from touting for your business.

5. You can also purchase add-ons to your cover that will assist if your own premises becomes inaccessible due to damage at a neighbouring property or if there is a failure of the public utilities supplying your premises.