Business Interruption - SureInsure

Business Interruption

Business Interruption Insurance covers the loss of income that a business suffers after a disaster. It can also cover you when processes like production lines break down and you can’t fulfil orders.

You can claim for income and profit loss, trades and extra working hours for staff as your business recovers.

Business interruption insurance is specifically designed to cover the shortfall in your gross profit caused by the interruption. The best thing to do to make sure you have adequate cover is to talk to Sure Insure about your asset value. Your assets can be covered in your own warehouse or while being stored by a third party. They can also be covered when they are on the road or on the water. If goods belong to you or you are liable for their cost or transportation, we can create a policy to fit.

Supply chains are complicated and involve many working parts and many people. That means that many things can go wrong and difficult scenarios can easily compound into drama. Business Interruption can be dramatic or happen behind the scenes, either way, it can be hard to deal with.

What can I claim for?

As long as you have discussed your supply chain, asset worth and risk factors, you can claim for many things. Business Interruptions can be caused by multiple factors. This can be caused by accidents or by malicious intent by another person or company. If you have a fire or flood that affects your property, you can claim for replacement of damaged goods. A customer who is inconvenienced by you being out of stock can sometimes pass on their losses to you or discontinue your items. In that case, you can claim lost income through interruption caused by your supplier or supply chain.

A good example of business interruption that a lot of people will remember is the blocking of the Suez Canal. The knock-on effects of the cargo on that ship and those it delayed flooded insurance companies with claims for interruptions.

When you put in a claim, you can continue to pay your rent and wage bills and maintain supplier relationships.

Some of our Business Interruption Specialists