Understanding Business Interruption Insurance: This is probably the one risk area that is often overlooked and most likely to put a company out of business shold they suffer a loss that causes an interruption. Time and again we see examples of companies not understanding this coverage and not having the proper coverage at the time of a loss. When business is interrupted by a disaster, business interruption insurance will help get it up and running again as soon as possible, but if your building is heavily damaged and your equipment and materials are gone, how do you do that? Your main concern is to keep your employees, keep your existing customers, and to maintain your excellent relationship with your suppliers. Business Interruption Insurance is designed to replace the loss of business income and to help pay for at least a portion of the extra expenses which you encounter in restoring your business operations after a covered loss. Business Income Coverage […]
