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Business Interruption Insurance covers financial losses that are a direct consequence of a fire or flood. Business Interruption will assist with elements such as loss of profit, loss of rental and additional staff costs. Business interruption looks forwards not backwards so quite often a Business Interruption claim runs for several years as the financial loss to a business continues long after it reopens. You may also have other costs such as marketing and advertising that are needed to get customers back on board. These are all taken into account with Business Interruption.If you are looking to make a Commercial Business Interruption Insurance Claim, a good Loss Assessor will be able to help calculate this. Remember Loss assessors work for you and Loss adjusters represent the insurance company. Any claim where there is BI will usually need the assistance of an insurance claim management company or specialist.
BOOK APPOINTMENTJustifying how your business would be performing had the claim had not occurred is extremely challenging. You have to show to Insurers the company's performance historically, and other factors that could have influenced trading over the interrupted period. Markets are examined in your specific industry to see how it's performing generally, as well as local factors such as increases or decreases in your market share due to competition. Preparing, collating and presenting these to Insurers to maximise your entitlement is a time consuming and tactical exercise requiring significant experience, vision, and imagination.
LOSS ASSESSING
Our primary role is to diminish the impact to your day to day operations, helping your business to recover. We will assist in locating temporary offices, warehouses, plant, machinery, hire and other temporary arrangements. We can also deal with press agencies, your employees and other internal or external parties. Appeasing staff and suppliers without jeopardising your Insurable position is also important. If employees and suppliers think the business may not survive then this can have a devastating effect on the company. Banks and other investors will also want to know the likelihood of a successful outcome from the Insurance Claim. We can deal with this for you too.
Make your property safe and mitigate any additional damage.
Oversee all parties including Insurers Loss Adjusters and their Specialists
Interpret your policy, its wording and any conflicts relating to compliance with its conditions
Collate the required information and negotiate your entire claim including including but not limited to Reinstatement Works, Stock or Content Losses & Business Interruption.
Maximise your entitlement of Business Interruption cover and justify any Increased Costs of Working.
Survey the property to identify any defects not visible to the naked eye to protect your long term investment.
Aid with specialist appointments should assistance be required in complex situations such as your own forensic scientists.
Push Insurers to accept liability as quickly as possible, in order to obtain Interim Payments to help you maintain your business operations.
