The Basics of Business Interruption Insurance for Sunshine Coast Firms


Cash-flow is king as the saying goes. It is one thing to insure your physical property of the business , but how do you keep your business running in the event of a loss?
Business interruption insurance is designed to protect the loss of income and assist a business to return to the same financial position as if the loss never took place.

If your business experiences a loss, such as your physical building burns down or an electrical storm wipes out your power and you cannot continue to work, your property or material damage insurance policy is triggered to repair your physical business. What happens though in the meantime? Repairs to your building or replacing electrical / computer equipment or data may take months or even years.
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Common Business Interruption Insurance Errors You May Not Be Aware Of


Material losses, withdrawing investors, lost supplier ties—these are dreadful problems every small business faces following a disastrous calamity. Most have secured business interruption insurance policies to cover for income loss while trying to get back on track. But others end up in utter disappointment as their claims are reduced, if not denied.

The tendency is to immediately seek legal measures to resolve the situation. The focus on restoring the business is diverted as monetary resources are exhausted on the lawsuit. But in the end, there are only two possibilities: the claim being awarded or the efforts ending up futile.
http://insuring.theproduct.com.au/news-updates/info-articles/common-business-interruption-insurance-errors-may-not-aware/

Useful Business Interruption Insurance to Offset Losses from Disasters


The economy can be quite unpredictable, but even more erratic are the unfortunate catastrophes that can beset any business. Whether it is a fire accident, a freak storm, or even a devastating earthquake, such things are beyond the power of businesses that are at the mercy of such disasters. Fortunately, financial hedges such as business interruption insurance products can help businesses offset the losses they suffer from an unforeseen accident.

An event like the recent hailstorm that hit the Brisbane area, resulting in costly damages to both residential and commercial properties, put to light just how expensive it can be to recover from a very physical interruption in business operations. As reported on the Courier Mail in November 28, 2014, the hail was so strong that it managed to smash the city’s various windows and tip over exposed planes on airfields.
http://insuring.theproduct.com.au/news-updates/industry-news/useful-business-interruption-insurance-offset-losses-disasters/