Contents of chapters
- Introduction
- Core Business Interruption Cover – 1
- Core Business Interruption Cover – 2
- Gross Profit or Increased Cost of Working (ICOW) Only Cover?
- Additional Increased Cost of Working (AICOW) Cover
- Gross Profit – Which Expenses to Include? – 1
- Gross Profit – Which Expenses to Include? – 2
- Gross Profit – Which Specification?
- Gross Profit – Setting the Sum Insured – Conventional Basis
- Gross Profit – Setting the Sum Insured – Declaration Linked Basis
- Choosing the Maximum Indemnity Period
- Choosing the Maximum Indemnity Period – Part 2
- Choosing the Perils
- Choosing Extensions and Limits
- Choosing Extensions and Limits Part 2
- Advance Covers
- Insuring Rent
Guide to Business Interruption
Arranging Appropriate Cover
When buying insurance it is better to have a basic understanding of what is being proposed by your broker so that the right questions can be asked and a better buying decision arrived at. As Business Interruption is so vital for the survival of the organisation consideration of the cover that is needed should not be totally outsourced and for this class of insurance generally more decisions have to be made by the customer in choosing the cover they want
Arranging adequate BI insurance is also of fundamental importance to any firm as it is primarily catastrophe protection impacting on the very survival of the enterprise.
The absence of BI cover or the presence of inadequate BI cover is frequently cited as the major cause of insolvency following serious physical property damage.
It is often said that material damage or property insurance protects the physical assets of a firm, be they buildings, contents, stock or other specialised machinery, whilst BI protects the finances, the income or the cash flow of the business.
Even if the physical assets can be replaced immediately the firm still needs income or capital to pay for the expenses necessary to get goods or services to their customers.
The guide, written by experts, contains many questions for the customer to ask his/her providers. Please note this guide is not interactive and will be supplied in hard copy.