Provides protection for financial loss due to interruption of your normal business operations following an event claimable under the Material Damage policy as defined in the policy wording
provides cover for loss of income when you are unable to operate your business due to an unforeseen event. A Business Interruption claim cannot be triggered with your Material Damage Policy having been triggered first. Business Interruption cover options include:
- resultant loss of Gross Profit or Revenue
- Additional Increased Cost of Working expenses to avoid a reduction in turnover (such as rental of an alternative site, temporary hire of equipment or labour)
- loss of Rental Income
- Wages or Redundancy payments
- Restoration of Records
- Claims Preparation Costs. Claim Preparation Costs assist any business with professional and specialized help with their claim. In any sizable property insurance claim, the policy holder incurs significant costs in developing the claim, in presenting the claim to the insurer, in gathering information requested by the insurer in response to the claim, and in negotiating the claim. Claim payments are made until normal turnover is restored or the indemnity period (maximum payment period after a loss) is exceeded, whichever happens first.