Business Interruption Insurance - Revision history

Editor at 13:43, 8 October 2020

2020-10-08T13:43:26Z

← Older revision		Revision as of 13:43, 8 October 2020
Line 1:		Line 1:
−
	A typical 'commercial combined' insurance policy taken out by a business will have a number of sections which provide cover for both 'material damage' and 'liability' events.		A typical 'commercial combined' insurance policy taken out by a business will have a number of sections which provide cover for both 'material damage' and 'liability' events.

Line 7:		Line 6:

	Events that may be covered include:		Events that may be covered include:
−	*Enforced closure of premises due to a notifiable infectious disease at the premises.	+
−	*Damage to property in the vicinity of the premises which hinders or prevents access to the premises.	+	* Enforced closure of premises due to a notifiable infectious disease at the premises.
−	*Damage at a supplier’s premises.	+	* Damage to property in the vicinity of the premises which hinders or prevents access to the premises.
−	*Accidental failure of telecommunications at the premises lasting at least 24 hours.	+	* Damage at a supplier’s premises.
−	*Accidental failure of public supplies of electricity, gas or water lasting at least 30 minutes.	+	* Accidental failure of telecommunications at the premises lasting at least 24 hours.
−	*Damage to documents in transit.	+	* Accidental failure of public supplies of electricity, gas or water lasting at least 30 minutes.
		+	* Damage to documents in transit.

	Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then loss of income cover reimburses the amount of income agreed as being lost during that three month period.		Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then loss of income cover reimburses the amount of income agreed as being lost during that three month period.

−	----	+	-----
−		+	This article was written by: --[[User:Martinc\|Martinc]] 08:30, 23 July 2014 (BST)
−	This article was written by: --[[User~~%3AMartinc~~\|Martinc]] 08:30, 23 July 2014 (BST)	+

−	= ~~Find out more~~ =	+	= Related articles on Designing Buildings Wiki =

−	~~=== Related articles on Designing Buildings Wiki ===~~	+	* Building Users' Insurance Against Latent Defects.
−	*Building Users' Insurance Against Latent Defects.	+	* Business interruption cover under COVID-19.
−	*Contractors' all-risk insurance.	+	* Contractors' all-risk insurance.
−	*Contract works insurance.	+	* Contract works insurance.
−	*Directors and officers insurance.	+	* Directors and officers insurance.
−	*Employer's liability insurance.	+	* Employer's liability insurance.
−	*Flood insurance.	+	* Flood insurance.
−	*Indemnity to principals.	+	* Indemnity to principals.
−	*Insurance.	+	* Insurance.
−	*Integrated project insurance.	+	* Integrated project insurance.
−	*Latent defects insurance.	+	* Latent defects insurance.
−	*Professional Indemnity Insurance.	+	* Professional Indemnity Insurance.
−	*Public liability insurance.	+	* Public liability insurance.
−	*Residual value insurance.	+	* Residual value insurance.

−	[[Category:Cost_/_business_planning]]	+	[[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]

Designing Buildings at 17:12, 1 December 2014

2014-12-01T17:12:18Z

← Older revision		Revision as of 17:12, 1 December 2014
Line 1:		Line 1:

−	A typical ~~“Commercial Combined”~~ insurance policy taken out by a business will ~~usually~~ have a number of sections which provide cover for both ~~“Material Damage”~~ and ~~“Liability”~~ events.	+	A typical 'commercial combined' insurance policy taken out by a business will have a number of sections which provide cover for both 'material damage' and 'liability' events.

−	Typically equipment will be insured against loss or damage and the company will be provided with ~~Employers Liability~~ and ~~Public Liability covers,~~ too.	+	Typically equipment will be insured against loss or damage and the company will be provided with employers liability insurance and public liability insurance cover too.

−	Business ~~Interruption~~ cover is often provided as well. This covers the additional expenses incurred by a business following loss or damage. Cover is usually on an ~~“All Risks”~~ basis and can be extended to cover ~~Loss~~ of ~~Income~~	+	Business interruption cover is often provided as well. This covers the additional expenses incurred by a business following loss or damage. Cover is usually on an 'all risks' basis and can be extended to cover loss of income.

−	~~Examples of events~~ that may be covered ~~are~~:	+	Events that may be covered include:
−	*Enforced closure of premises due to a notifiable infectious disease at the premises;	+	*Enforced closure of premises due to a notifiable infectious disease at the premises.
−	*Damage to property in the vicinity of the premises which hinders or prevents access to the premises;	+	*Damage to property in the vicinity of the premises which hinders or prevents access to the premises.
−	*Damage at a supplier’s premises;	+	*Damage at a supplier’s premises.
−	*Accidental failure of telecommunications at the premises lasting at least 24 hours;	+	*Accidental failure of telecommunications at the premises lasting at least 24 hours.
−	*Accidental failure of public supplies of electricity, gas or water lasting at least 30 minutes;	+	*Accidental failure of public supplies of electricity, gas or water lasting at least 30 minutes.
	*Damage to documents in transit.		*Damage to documents in transit.

−	Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then ~~Loss~~ of ~~Income~~ cover reimburses the amount of income agreed as being lost during that three month period.	+	Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then loss of income cover reimburses the amount of income agreed as being lost during that three month period.
		+
		+	----

	This article was written by: --[[User%3AMartinc\|Martinc]] 08:30, 23 July 2014 (BST)		This article was written by: --[[User%3AMartinc\|Martinc]] 08:30, 23 July 2014 (BST)
		+
		+	= Find out more =
		+
		+	=== Related articles on Designing Buildings Wiki ===
		+	*Building Users' Insurance Against Latent Defects.
		+	*Contractors' all-risk insurance.
		+	*Contract works insurance.
		+	*Directors and officers insurance.
		+	*Employer's liability insurance.
		+	*Flood insurance.
		+	*Indemnity to principals.
		+	*Insurance.
		+	*Integrated project insurance.
		+	*Latent defects insurance.
		+	*Professional Indemnity Insurance.
		+	*Public liability insurance.
		+	*Residual value insurance.

	[[Category:Cost_/_business_planning]]		[[Category:Cost_/_business_planning]]

Designing Buildings at 06:56, 25 July 2014

2014-07-25T06:56:43Z

← Older revision		Revision as of 06:56, 25 July 2014
Line 1:		Line 1:
−
−
−	~~'''BUSINESS INTERRUPTION INSURANCE'''~~

	A typical “Commercial Combined” insurance policy taken out by a business will usually have a number of sections which provide cover for both “Material Damage” and “Liability” events.		A typical “Commercial Combined” insurance policy taken out by a business will usually have a number of sections which provide cover for both “Material Damage” and “Liability” events.
Line 19:		Line 16:
	Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then Loss of Income cover reimburses the amount of income agreed as being lost during that three month period.		Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then Loss of Income cover reimburses the amount of income agreed as being lost during that three month period.

−	This article was written by: --[[User~~:Martinc~~\|Martinc]] 08:30, 23 July 2014 (BST)	+	This article was written by: --[[User%3AMartinc\|Martinc]] 08:30, 23 July 2014 (BST)

−	[[Category:~~Roles_~~/~~_services~~]]	+	[[Category:Cost_/_business_planning]]

Martinc: Created page with " '''BUSINESS INTERRUPTION INSURANCE''' A typical “Commercial Combined” insurance policy taken out by a business will usually have a number of sections which provide cover f..."

2014-07-23T07:30:18Z

Created page with " '''BUSINESS INTERRUPTION INSURANCE''' A typical “Commercial Combined” insurance policy taken out by a business will usually have a number of sections which provide cover f..."

New page

'''BUSINESS INTERRUPTION INSURANCE'''

A typical “Commercial Combined” insurance policy taken out by a business will usually have a number of sections which provide cover for both “Material Damage” and “Liability” events.

Typically equipment will be insured against loss or damage and the company will be provided with Employers Liability and Public Liability covers, too.

Business Interruption cover is often provided as well. This covers the additional expenses incurred by a business following loss or damage. Cover is usually on an “All Risks” basis and can be extended to cover Loss of Income

Examples of events that may be covered are:
*Enforced closure of premises due to a notifiable infectious disease at the premises;
*Damage to property in the vicinity of the premises which hinders or prevents access to the premises;
*Damage at a supplier’s premises;
*Accidental failure of telecommunications at the premises lasting at least 24 hours;
*Accidental failure of public supplies of electricity, gas or water lasting at least 30 minutes;
*Damage to documents in transit.

Loss of income is a significant risk where an event has caused major disruption to a business so cover is available for a maximum indemnity period which insures an agreed and justifiable estimate of loss. If, for example, a business is unable to trade for three months due to a major event then Loss of Income cover reimburses the amount of income agreed as being lost during that three month period.

This article was written by: --[[User:Martinc|Martinc]] 08:30, 23 July 2014 (BST)

[[Category:Roles_/_services]]