Because the hourly employees are highly skilled and critical to the plant operations, Adam's insurance group added 60 days of ordinary payroll coverage to the company's property and business interruption policy.
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.
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.
2 /PRNewswire/ -- Santos Limited advises that its insurers have agreed that losses resulting from the New Years Day incident at the Moomba Gas Plant are recoverable under the property damage and business interruption policy.
Whether it's catastrophic coverage to repair hurricane damage or a business interruption policy to resume operations, organizations have to deal with the financial consequences of a disaster in their recovery plans.