The indemnity period of the business interruption policy
not being adequate enough to allow for the business to get back to the position it was enjoying immediately before the loss--which invariably is well after the damage has been reinstated.
If your business premises are shut down due to earthquake damage, you'll need to have earthquake coverage to make a claim under a business interruption policy
25, 2003), the United States District Court for the Southern District of New York ruled that the period of restoration in a business interruption policy
would not extend to the policy's maximum of 12 months and 30 days.
Thus, for example, a company that is operating at a loss prior to the interruption may not be in a position to recover under a business interruption policy
A business interruption policy
, to cover loss of income, is essential, as is protection against claims arising from employees, visitors or patients.
Protection against these hazards can be written into your business interruption policy
, but you have to ask for it.
However, it's sometimes possible to add an extra expense clause to the business interruption policy
that covers expenses over and above those that reduce or mitigate the loss.
A line-by-line look at an updated business interruption policy
, highlighting specific provisions and types of coverage that insurance companies are including in their policies this year (coverage for accident or injury that causes the disability of an owner or key employee, legal liability claims, property loss from fire, natural disaster, theft, vandalism; payment of business's ongoing expenses, compensation of owners or shareholders for lost revenues during the forced shutdown, payment of employees' salaries, loss of income for the time that an e-commerce site was down and unable to accept business, etc.
The broker renewed the business interruption policy
with the same limits at the new, larger location.
However, using stock throughput insurance in conjunction with a business interruption policy
can be a comprehensive, holistic and progressive way of addressing transit risk in today's complex global supply chain.
A business interruption loss in a property and business interruption policy
is often defined as "the reduction in business income, less charges, that do not necessarily continue during the suspension of operations.
The risk manager also must understand the variety of available business interruption policy
endorsements (see Chapter 2).
That happens all the time and has a measurable impact on many businesses around the country but that's not something a business interruption policy
can respond to.
Issue: Is there a "suspension of 'operations'" as required by a business interruption policy
when there is a partial but not a total interruption of business?
It falls outside the period of indemnity covered by the business interruption policy