Business Interruption

Without the right level of Business Interruption cover, businesses are at significant risk of being unable to recover from a loss.

Why cover Business Interruption?

As many businesses can be tied to other aspects of the customer’s life, the implications of not holding this insurance or holding insufficient levels of cover could have life changing consequences. Few businesses can absorb the loss of earnings that accompany a physical loss at their premises and continue to meet ongoing expenses whilst key assets are repaired or replaced. For many businesses, this process could take months.

 

Why have the right level of cover?

The right level of cover is important. The penalties for insufficient levels of insurance can be severe, cover can run out or the indemnity period can expire before the business is fully reinstated increasing costs to be absorbed by the business, potentially to the point where the business can no longer continue to operate.  Some policies will include underinsurance provisions that will reduce the amount payable as a result of insufficient cover being bought at the outset.

 

Help is at hand

Our free Business Interruption Calculator is tailored specifically to the requirements of RSA policies.  

Inputting a few straightforward details can ensure that the business is adequately covered with a confirmed value to be insured and indemnity period to be covered.  The calculator includes easy to follow help and additional tools and knowledge centre for registered users.

The calculator can be accessed here:

Access Business Interruption calculator here

What benefits are available for using the calculator?

Commercial Combined insurance

Care Combined

Professional Insured Select

Property Owners' Insurance

Business Combined

 

Commercial Combined Insurance ; Care Combined ; Professional Insured Select ; Property Owners’ Insurance

The Business Interruption calculator can be used on cases up to a maximum turnover threshold of £25m.

Mid Term Amendments

Where the calculator is completed mid-term and results in an increase in Business Interruption premium, we will waive any additional premium generated up to renewal, to a maximum of £10,000.

Renewal

Where the calculator is completed at renewal and the Business Interruption sum insured is increased, resulting in an increase of premium of greater than 10%, we will discount the Business Interruption premium by 10%.

 

Business Combined

New Business / Mid Term Amendments / Renewal

Where the calculator is completed and the Business Interruption sum insured is selected at the level calculated, we will remove all provisions regarding Underinsurance in respect of Business Interruption insurance.

 

For further details please get in touch with your local business contact

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