A look at Business Interruption for Manufacturers
January 05, 2021
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General Insurance
Business Insurance
Small Business Insurance
Professional Indemnity Insurance
Business Interruption Insurance
Loss of Gross Profit Cover - Business Interruption
The typical costs of a major loss
- Loss of Gross Profit during the interruption period
- Aditional Increased Costs of Working
- Claim Preparation Costs/Professional Fees
Indemnity Periods. Why are they important?
- An Indemnity Period is a set maximum period of time that the policy will respond.
- Indemnity periods of 12 months or less aren;t typically recommended, particularly for larger scale operations
What to do when you have suffered a major loss
- Call your broker
- Interruption claims are time critical. The best chance of a full recovery is to act decisively and immediately
- Find an alternate premises to operate from
This article originally appeared on McLardy MShane South East Website and has been published here with permission.
Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Shane Brady.
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