Like This?
Share it.

Business Interruption Insurance

No matter how much you prepare, any number of scenarios can disrupt your business — from tornado damage to the loss of a major supplier. Business interruption (BI) insurance covers lost earnings, ongoing expenses and recovery costs for a prescribed period of time following a disruption.

Let’s work together to assess your business disruption exposures and determine the real costs of getting your business back up and running.

What does BI insurance cover?

Property, auto and other forms of commercial insurance cover the cost to rebuild or replace damaged property — but not the losses that can occur while your business is closed. BI insurance provides for:
  • Lost or reduced earnings for a predetermined period of time following a business disruption event
  • Relocation or recovery expenses, along with additional operating costs incurred during recovery
  • Contingent losses or expenses caused by damage to key suppliers or customers

How BI insurance enhances your overall insurance portfolio

Business interruption coverage is an essential supplement to the many other policies that protect you when your normal business activities are disrupted.

See how BI insurance extends the protection provided by policies for:

Next
Directors and officers (D&O), professional liability and employment practices liability (EPL)

When your company or its senior leadership experiences a critical event, business can stall. If the disruption is blamed on a senior leader, a D&O, Professional Liability or EPL claim could result which BI would not cover. An associated BI enhancement would be crucial to cover the cost of the disruption.

Next
Next
Cyber risk

When business-critical software or hardware is inaccessible due to a cyber breach, outage or ransomware event, operations could come to a halt, leading to financial losses. Such a case would trigger the network business interruption coverage under a cyber risk policy.

Next
Next
Contingent business interruption

A supply chain interruption could prevent you from producing products or delivering services. In that case, a contingent business interruption policy — coverage that complements traditional BI insurance — may be necessary.

Next
Next
Workers' compensation

If employees are injured by a catastrophic event that causes business disruption or during disaster recovery cleanup, workers’ compensation insurance will cover costs associated with their claims. However BI insurance will cover lost income due to the business disruption itself.

Next
Real claims stories:

Construction site fatality leads to BI claim

A fatal accident on a construction site, and the ensuing police investigation, prevented work for more than 48 hours. The shutdown led to significant losses for the construction company, and turned into a claim on its BI policy.

READ MORE
Real claims stories:

Construction site fatality leads to BI claim

A fatal accident on a construction site, and the ensuing police investigation, prevented work for more than 48 hours. The shutdown led to significant losses for the construction company, and turned into a claim on its BI policy.

Real claims stories:

Supply chain interruption leads to contingent business interruption claim for bakery

A busy bakery couldn’t get the particular flour necessary for its products due to political instability in its vendor’s geographical area. As a result, the bakery had to halt production — and because the stoppage was caused by the vendor, it triggered the bakery’s second-tier contingent business interruption policy.

HIDE

Let’s assess your business interruption exposures.

Together, we can build a tailored BI policy to your unique risks, and ensure that your business is positioned to survive a major disruption.

©2017 HUB International Limited. All rights reserved.
Privacy PolicyTerms & Conditions