Business Interruption Cover
According to the Insurance Council of Australia over 50% of Australian businesses that suffer a physical loss and do not have business interruption cover will not resume their normal business operations. And yet only 30% of SME Businesses have Business Interruption cover as part of their insurance portfolio.
Business interruption insurance, also known as “loss of profits insurance” or “consequential loss insurance”, complements insurance on material assets such as buildings, plant and stock. It is designed to provide protection against loss consequent upon interruption of the turnover to a business as a result of damage to these assets by fire and other contingencies insured under a material damage policy, such as Fire and Extraneous Perils or Industrial Special Risks.
Get a business insurance quote by click here or call to discuss with Insure 247 on 1300 046 787
Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service