Key Points Page
- Business Income Insurance1
- Protecting the Lifeblood of a Business2
- Gross Profit — The Basis of the Coverage2
- Period of Interruption3
- Projecting Sales3
- Deducting the Cost of Goods, Establishing Value4
- Considering Discontinuing Expenses5
- Expediting and Extra Expenses5
- Executive Overtime6
- Advanced Payments May Speed Recovery6
- Understanding the Coverage is Paramount7
- The Broker's Role in Claims Settlement8
- Strategic Questions10
Business Income Insurance: Having and Understanding This Coverage Can Be Essential to a Company's Survival
Advisor. Consultant. Prognosticator. Trusted friend. Today’s insurance broker wears many hats while assuring that his or her client has the best protection possible. As business insurance grows more complex and the stakes get higher every day, never has this service been more crucial — or the consequences for failing to provide it, greater.
This issue of Adjusting Today discusses the key components and considerations of business income (business interruption) coverage. From an adjusting point of view, business income insurance is very important in protecting the lifeblood of a business when a disabling loss occurs.
Complementing this article is an equally informative piece discussing how a broker’s expertise can be invaluable to a client during the claims process. “The Broker’s Role in Claims Settlement: Make It Your Advantage” looks at some things the broker can do to help their clients through the claims settlement process.