Insurance is provided for all kinds of companies, associations and institutes: commercial, industrial, educational, cultural, religious, social, health, HORECA (hotels, restaurants & café’s), warehouses, etc.
Coverage can be provided for:
- Buildings, including machinery (or improvements to the building made by the tenant)
- Contents (including equipment and machinery)
- Goods held in stock
- Interruptions to business
- Money (in safe and in transit)
Our wordings are based on LM7 (London Market) standards, one of the most comprehensive coverage schemes possible. These are All-Risk conditions, meaning that any event is covered unless specifically excluded.
The coverage includes (but is not limited to): fire, explosion (including pressure-based apparatus), smoke, lightning (direct and indirect), impact of vehicles and aircraft or other aerial devices or articles dropped there from, fallen trees, fallen cranes, glass breakage, burglary by forcible entry, burglary by hold up, water damage due to bursting or overflowing of pipes, apparatus or water tanks, rain damage, water leakage investigation costs, earthquake, storm/tempest/flood, strikes/riots/civil unrest, malicious damage, damage to electrical apparatus, electrical fluctuation, removal of debris, expert and architect fees, loss of rent/loss of property, liability towards neighbors, liability towards co-owners ,etc.
Business Interruption Insurance (also known as Loss of Profits) will pay for your lost income and standing charges (such as rent, salaries, etc..) should your business be interrupted by a covered event. For example if your business suffers a claim for fire or burglary your income will drop or even halt. A good business interruption policy will replace your lost income until your business has recovered and is able to trade at the same levels it would have been at before the claim.
Without business interruption insurance you might be able to repair or replace damaged buildings, equipment or stock but you will not be able to replace your lost income, customers or staff. Business interruption insurance will help your business survive. This could involve renting alternative premises and equipment, sourcing stock, paying overtime and communicating with customers.
Extensions to a business interruption policy can also cover interruption to your income from less obvious causes that could be critical to your business, including:
- Disruption of utilities - gas, electric, water, telecoms, drainage, etc.
- Damage at a suppliers premises
- Damage at a customer’s premises
- Denial or prevention of access to your premises
- Loss of attraction