- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 01 Dec 2014
Business Interruption Insurance
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.
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.
- 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: --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.
- Integrated project insurance.
- Latent defects insurance.
- Professional Indemnity Insurance.
- Public liability insurance.
- Residual value insurance.
Featured articles and news
An architectural technologist in Germany.
3 World Trade Center designed by RSH+P
The struggle to achieve net-zero emissions by 2050.
What is 'agent of change' and who does it protect?
A consistent and measurable approach to home adaptation.
Acknowledging and challenging the realms and interpretations of heritage.
Embodied carbon in construction steel.
A prototype for assessing circularity in buildings.
New Wiki site is set to make BIM mainstream.
FMEA is a step-by-step approach for collecting knowledge about possible points of failure.
The various types and everything else.