Wednesday, October 21, 2015

Business Interruption Insurance

By now, we all know how important it is to be able to get up and running as soon as possible after a business interruption. And it’s obvious that part of that recovery is having funds available to restore operations. You no doubt have business insurance, but how good is your business interruption coverage? And are you aware that there’s contingent BI in case the problem is not on your premises but on that of a customer and supplier? And what about cyber insurance? You can find more information about all these topics in this week’s articles.

Business interruption insurance can be as vital to your survival as a business as fire insurance. (Item #1)   In order to better understand business income insurance let’s explore three terms you need to know. (Item #2)   Are you familiar with the top five business interruption issues? (Item #3)

There are very few businesses in the modern world that would not be severely crippled if their network were unavailable. (Item #4)   How much of your company’s operations rely on another entity? (Item #5)   The core purpose of Business Interruption insurance, of course, is to offer funding to help cover lost revenue or increased expenses because of the disruption, including short-term financial impacts, but this insurance will only respond if the cause of the disruption is covered within the scope of the policy coverage. (Item #6)

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