Business Interruption

Please contact Fisher Insurance to discuss your Business Interruption insurance requirements.

Business Interruption cover is commonly packaged with property insurance, or can be arranged as a stand alone policy.

Cover provides indemnity following an insured loss e.g. fire at the premises, prevention of access, or loss at a supplier or customers premises.   Business Interruption benefits include cover for loss of revenue,  additional expenses reasonably incurred in maintaining operations, claims preparation costs , and payroll.

Business interruption sum insured calculations are technical and should be completed with the assistance of your broker.  The indemnity period for cover should be carefully considered and should take into account;

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  • Demolition (including Asbestos where applicable) and removal of debris timeframes.
  • Obtaining building design, plans and council/government requirements and approvals.
  • Ordering of replacement machinery, type, from where, is it a shelf item or custom?
  • Lead and delivery time of equipment. Does it need to be imported?
  • Tendering criteria and choice of tenderer.
  • Building time including an allowance for delays (weather/strikes etc), final building approvals, installation and commissioning of equipment.
  • Restoration of pre-loss turnover capability.
  • Restoration of pre-loss turnover/market.

Fisher Insurance – Newcastle Insurance Broker.

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