Seek help from your insurance agent or broker to undertake a side-by-side comparison of different insurance products offered by different insurance companies offering contingent business interruption coverage
The lack of business interruption coverage
created problems for the local businesses that remain open year-round.
Piccinini suggested a conference call with myself, the rail risk manager, and the carrier for these coverages so we could have an open discussion with potential scenarios on both policies and see if (the agency) had resources to handle the situation if a loss occurred, or if the business interruption coverage
was a cost-effective and necessary route to go," McWeeney said.
Business interruption coverage
requires careful analysis, due to the variety of policies and the types of losses incurred.
As for future cyber insurance policies, Sacia predicts a greater demand for business interruption coverage
and a need for expense coverage with huge limits.
Red Bird further argued that the failure of electrical service resulted in a fire (a covered cause of loss) that, in turn, damaged the fan motors and triggered the business interruption coverage
business interruption coverage
(actual loss of rental revenue)
The company's insurance covers liability risk for terrorism but excludes it for property and business interruption coverage
If there's ever a situation that causes insurance brokers to be sued, most of it comes from business interruption coverage
," says Usher, who advises medium and large companies on insurance and risk management.
The white paper is based on the webinar "Emerging Opportunities in Business Interruption Coverage
for Insurance Agents and Brokers," sponsored by Zurich North America.
Olson, a director at BDO Consulting, said that he hears a lot of complaints from clients about the terms and conditions for business interruption coverage
in cases of data breaches or cyber attacks.
Insurance is all about managing risk, whether it's protecting property from fires, earthquakes or floods; vehicles from deer or close encounters with other cars; providing payment for injured workers; securing business interruption coverage
for dozens of possible perils; or guarding against a major data breach.