Hundreds of Christchurch businesses were forced to relocate their premises after the 2010 earthquake and many only had a 12 month indemnity period on their business interruption
for more stats about business interruption
The Superior Court found that the original umpire's possible impartiality was sufficient to set aside the Business Interruption
Natural catastrophes or cyber attacks can cause business interruption
not only for one company, but to whole sectors or critical infrastructure," says Chris Fischer Hirs, CEO of Allianz Global Corporate & SpecialtySE (AGCS).
Technology failures leading to business interruption
are "equally damaging to a company's operations, reputation and bottom-line profits," Paxton added.
Weigh the price, but realize that contingent business interruption
coverage is not a commodity where you are comparing apples to apples.
Many microbusiness owners don't know where to begin when seeking a business interruption
endorsement, which can overwhelm them into inaction.
Their suppliers would not have suffered a loss, so there would be no contingent business interruption
Policies usually have a 48- to 72-hour waiting period before business interruption
insurance kicks in.
These camps most likely did not receive any benefit from their business interruption
insurance because 1) they may not have had coverage for communicable disease events, and even if they did buy the additional peril of communicable disease and 2) their decisions to close were voluntary and not ordered by the health department.
Finally, the cost of business interruption
- the time spent when you physically can't sell to customers, the overall disruption to your company - is likely to be a higher overall cost than the cost of replacing the assets.
TELECOMWORLDWIRE-26 February 2008-Capital Continuity introduces Business Interruption
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