Blog

What is Business Interruption Insurance?

If your business suffered an unexpected disruption, such as fire, flood or storm, or a major supplier closes because of one of these events, how long would it take to get it up and running again? And how much would you lose along the way.
Business interruption insurance can help make sure your business keeps running smoothly after an unexpected event, by covering the turnover that is lost – so you can recover and rebuild.

“Insurance can help your
business get back on its feet if
things go wrong. You can insure
against disasters and for business
disruption to cover your losses
during the recovery period.”
Dept. of Innovation, Industry
and Science, 2018

Who should consider it?
For most business owners, there are ongoing expenses that you need to pay even if you’re not generating any revenue – like staff wages, supplier invoices, rent and loan repayments.
Business interruption insurance can get you through a temporary crisis by protecting your cash flow – so you can pay these expenses, and help ensure the future of your business.

Did you know?

• It’s estimated that natural
  disasters cost Australia $11
  billion on average each year.
  (Actuaries Institute, The cost and
  funding of natural disasters in
  Australia – current position
  paper draft for discussion 2016)
• The top two risks to business
  around the world are
  extreme weather events and
  natural disasters
  (Fortune. “These are the Biggest
  Risks for Business in 2018.
  According to the World
  Economic Forum. 2018)
• While most companies insure
  their building and contents
  against disasters like fire, theft
  and storm, many neglect to
  insure for the interruption to
  their business caused by these
  events
  (Aust. Federation of travel Agents
  “Do you have business interruption
  insurance? 2018)

For further information on Business Interruption Insurance:

Contact:

CAPITAL INNOVATION INSURANCE GROUP
(03) 63322500 and mention SIA