BUSINESS & PROPERTY
Business Interruption Insurance
Cover designed around the financial impact of an insured event that interrupts normal trading.
OVERVIEW
Property can be replaced. Lost trading time cannot.
Business Interruption Insurance is intended to help protect the financial position of a business when an insured event disrupts its operations. Depending on the wording, the cover may respond to loss of revenue or gross profit and certain additional costs incurred while the business recovers.
The right structure depends on how the business earns money, what it depends on and how long a serious interruption could realistically last.
WHAT MATTERS
Revenue basis, recovery time and business dependencies
Insurers may consider the calculation basis, indemnity period, dependence on premises, key suppliers and customers, utilities, machinery, stock, seasonality and the availability of alternative premises.
Australian catastrophe exposure can also affect interruption planning. A business should consider not only whether property can be repaired, but whether local infrastructure, access, utilities or supply chains could delay recovery.
Understand more. Or begin.
Read the Business Interruption guide, or begin your proposal and tell us how your business would be affected by a serious disruption.
Australian insurance context
For Australian organisations, Business Interruption Insurance should be considered against the actual activities, location, scale, contracts, assets and risk controls of the business. Insurance requirements and insurer appetite can vary by state or territory and by the way the risk is presented.
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