Property & Business Interruption Insurance
Property: Covers the physical assets of the business including buildings, stock, tools plant, equipment, leaseholder improvements and fit-out.
Specialist Machinery/ Equipment Breakdown: Cover for breakdown risks. Cover can be extended to include loss of income and increased costs resulting from damage by a peril insured under a Machinery policy.
Chilled/ Refrigerated Stock: Covers deterioration following accidental stoppage of refrigeration equipment for chilled or frozen goods. Usually only available in conjunction with Machinery Breakdown insurance.
Contract Works: Covers property during construction against physical loss or damage.
Natural Disaster Excess Buy Down: Reduces the excess under a Material Damage policy.
Gross Profit/Revenue: Insurance to help minimise the financial impact if an interruption to normal business operations following a physical loss to assets.
Loss of Rent/ OPEX: Covers rental income because of Fire and/or Lightning or other peril or perils cover under the policy.
Additional Increased Costs: The extension under allows the insured to claim reasonable costs required to maintain business operations and services following an insured event. OR Cover for costs not planned for but lead to the reduction in turnover being mitigated. This could include setup costs at a new (or temporary) premises, the additional rents that may be incurred, advertising and marketing costs.
Claims Preparation Costs: Cover for professionals who works on the insureds behalf in the preparation, quantification, presentation, certification, verification and/or negotiation of a claim under a Business Interruption policy.
Severance/ Wages in Lieu: Cover to meet the cost to the business of the wages in lieu of notice that must be paid to employees on termination of employment.
Bad Debts: Covers loss resulting from inability to recover debts because of damaged records.
Specialist Machinery/ Equipment Breakdown: Cover for breakdown risks. Cover can be extended to include loss of income and increased costs resulting from damage by a peril insured under a Machinery policy.
Chilled/ Refrigerated Stock: Covers deterioration following accidental stoppage of refrigeration equipment for chilled or frozen goods. Usually only available in conjunction with Machinery Breakdown insurance.
Contract Works: Covers property during construction against physical loss or damage.
Natural Disaster Excess Buy Down: Reduces the excess under a Material Damage policy.
Gross Profit/Revenue: Insurance to help minimise the financial impact if an interruption to normal business operations following a physical loss to assets.
Loss of Rent/ OPEX: Covers rental income because of Fire and/or Lightning or other peril or perils cover under the policy.
Additional Increased Costs: The extension under allows the insured to claim reasonable costs required to maintain business operations and services following an insured event. OR Cover for costs not planned for but lead to the reduction in turnover being mitigated. This could include setup costs at a new (or temporary) premises, the additional rents that may be incurred, advertising and marketing costs.
Claims Preparation Costs: Cover for professionals who works on the insureds behalf in the preparation, quantification, presentation, certification, verification and/or negotiation of a claim under a Business Interruption policy.
Severance/ Wages in Lieu: Cover to meet the cost to the business of the wages in lieu of notice that must be paid to employees on termination of employment.
Bad Debts: Covers loss resulting from inability to recover debts because of damaged records.
