Adequacy Of Sum Insured And Indemnity Period
One of the most contentious parts of a significant insurance claim, most typically fire, is the value of lost income due to an inability to trade afterwards, either partly or wholly.
Whilst replacement of material property, Buildings, Machinery and Stock, can take place in an ordered sequence after a loss, often it takes considerably longer than anticipated to demolish, plan, rebuild and restock sufficiently to begin trading again to a realistic extent. Not to mention the loss of previously loyal customers who have defected to a competitor whilst you are unable to supply them.
Failure to get your Business Interruption cover right may mean your business will fail before it can fully recover.