Is your Business Interruption cover adequate enough?

Watch out for shortcomings in your Business Interruption cover

Business Interruption remains the most undersold but vital cover to include in a Business Pack or ISR policy (Section 2 Consequential Loss).

But problems exist even when an Insured has chosen the cover. Have they set it up correctly? Will it respond adequately after a material damage claim?

I just want to touch on a few areas that can cause shortcomings in the cover.

So in conclusion, it is important to review these critical areas of your Business Interruption cover as sadly recent claims have shown them to be inadequate in many cases. We strongly recommend increasing an Indemnity Period to at least two years, making sure the Additional Increased cost of Working limit is set at least 20% of the Gross Profit Sum Insured and Claims Preparation Costs are at least 10% to 15% of the Gross Profit Sum Insured. It does not cost too much more for this extra Peace of Mind.