Insurance to help you keep on trading
Updated: Oct 10, 2018
Practicing comprehensive risk management is crucial when it comes to successfully managing a company. Risks, like companies themselves, come in many different shapes and sizes. Most companies have near the top of their list of risks, the threat posed to their physical items. Buildings, stock, furniture and so on, are all taken care of by a good comprehensive business contents insurance policy.
However, replacing physical items is only half of the battle. In the event of a significant event hitting your business, physical losses may actually be of secondary importance when it comes to the true cost to your business. Failure to be able to trade will potentially lose you customers, hurt sales and significantly hit trading profits. There may also be additional costs to cover in terms of third party fees as well as the costs of implementing any continuity plans you have in place.
Having business interruption cover in place can give you much needed peace of mind.
Such a policy will aim to put your business back in the same financial trading position as it would have been had the unfortunate events not happened in the first place. Business interruption insurance is very specific to your business and will only be put in place after detailed discussions. Given its nature it involves open book disclosure to the insurer.
We can help talk you through exactly what events are covered and which ones aren’t. There are certain events that are typically excluded from this type of policy such as terrorism or cyber-crime incidents. Both of these can of course be covered with alternative covers if required.
Contact us on 01273 789 979 or email for more information.