Business Interruption or Destruction

Business Interruption – A Lawyers Perspective
June 1, 2011
Insurance Review Audits
June 2, 2011

Business Interruption or Destruction

Unless you have vast cash reserves and can afford to fund your own business recovery, you should strongly consider business interruption insurance if you answer YES to any one of the following :

1. I or my Business owns commercial property?

2. My Business is a manufacturer?

3. My Business is a wholesaler / Importer / Distributor ?

4. My Business is a retailer?

5. My Business operates in a niche or specialist market?

6. My Business relies on key stock, equipment, supplier or customer, which is not  able to be immediately replaced?

7. My Business is financed by debt?

8. My Business is Secured by my family home?

9. My Business would lose revenue if I was unable to operate from our existing Building?

10. My Business could keep operating after a loss but there may be significant increased costs?

11. It would be difficult to find alternative premises?

12. Our staff are key to the businesses future success?

13. My Business does not have a business continuity plan?

14. My Business is seasonal. We cannot afford to lose our peak season?

15. My Business relies on Utilities?

If you answered YES to more than one of the above then the Businesses reliance upon Business Interruption Insurance increases dramatically and will be critical to survival following a claim.

UNDER-INSURANCE in this area is as critically important as having no insurance.

Did You Know!

1,170 people lost their jobs following the storms in Newcastle in 2007 due to the fact that their employers business failed to reopen due to not having business interruption insurance!

How importantly do you value your Staff? Do you feel a sense of responsibility towards your long term Staff?

Who will be the one to tell your loyal Staff they no longer have a job?

Action Plan :

VeriSure are Specialists Risk Advisors.

Our commitment to providing the very best Policy Terms and Conditions at the most competitive Premium together with our professional Claims Advocacy is paramount.

Contact us for an extensive Risk Assessment today.

Knowledge then Security.

 

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