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.
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