Most businesses are exposed to the risk of losing valuable revenue if their operations are interrupted by circumstances beyond their control. For example, from a fire, flood, vandalism or other extreme event.
Thankfully, there is an insurance product that can provide valuable financial protection should this happen. It is called Business Interruption Insurance. This product can provide the continuity of income after insured property is damaged or lost after an unexpected event. The Product Disclosure Statement issued by the insurer will describe what is covered and how much cover is available.
Research conducted by a large Australian insurer shows that many businesses do not have this category of cover. This is not surprising when the research also shows that just over one in five business owners say they only have a vague idea of what it covers. Half of those who have bought the cover, did so because they were worried they couldn’t stay in business if a fire, power failure or extreme weather event affected their premises.
If you would like a review of your business interruption insurance or would like to find out more, please don’t hesitate to contact us at any time.
Whether you are based in WA, NSW, VIC, TAS or anywhere else in Australia, and whether you are a small business owner, accountant, a doctor, an architect or any other occupation, to find out more, contact us for a no obligation review at any time. We can provide more information.
20 Jan 2023.
This is general information and you should always read the Product Disclosure Statement before buying insurance coverage.
General insurance services are provided by Experien General Insurance Services Pty Ltd ABN 77 151 269 279 AFS Licence No. 430190 (EGIS) trading as Experien Insurance Services. EGIS arranges insurance and is not an insurer. Data sources from QBE.
